Importance of Start-up India Registration

Importance of Start-up India Registration

"Call Our Business Plan Experts at +91-72999-72500"


The Government of India has recognised startup companies that have a significant potential to grow, and has introduced the Startup India initiative in 2016. The scheme offers multiple opportunities and recognition to startups. 

It also provides several benefits, like tax exemptions, mentorship programs and funding opportunities. The government has established an online portal for Startup India registration, which simplifies the process and makes it quick and easy to register your business. It also facilitates networking with other entrepreneurs, investors and industry experts.

To qualify for the Startup India scheme, the enterprise must be a new business or not older than five years and should have the following requirements:

The firm must be a private limited company or a partnership firm. The firm must be working towards innovation, development or commercialization of a product or service that is driven by technology or intellectual property. The firm should not have a turnover of more than Rs 25 crore in any financial year since its incorporation or registration.

A Startup India registration allows the startups to benefit from various regulatory relaxations and exemptions, like self-certification compliance for nine labour laws and two environmental laws. This makes it easier for the startups to conduct business operations. The government also provides a 50% rebate on the patent filing fees and 80% rebate for trademark filings to Startup India-recognised enterprises.

Startup India-recognised start-ups can follow a simpler process to close or wind up their business, which will free up their time and resources for other growth opportunities. To apply for Startup India, one must register as a private limited company or a partnership firm with the Ministry of Corporate Affairs (MCA). The scheme also helps to support startups by providing them with a network of incubators, innovative labs, events, competitions and grants. It also offers tax exemptions on income and capital gains.

 

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