Since 2015, Startups have become very popular in India, it is an emerging sector which is creating a number of job opportunities and developing the Indian economy. The Indian government, under the leadership of Prime Minister Narendra Modi, has started and promoted the Startup India initiative to recognize budding entrepreneurs and focused on the philosophy of Make In India!
Govt. of India has simplified the procedure of registering your startup in a few simple steps. State Govts and Central Govt. have also come up with various schemes to support your startup and help you run it easily.
Steps to Register
1.Incorporate your business
Your company must first be incorporated as a Limited Liability Partnership, a Private Limited Company, or a partnership firm. You must adhere to all standard business registration requirements, such as submitting an application and receiving a certificate of incorporation or partnership registration. The registration application must be submitted to the Registrar of Companies or Registrar of Firms along with the necessary paperwork and fees.
2. Register- Startup India
Next step is to register the company on the Startup India website. The process is very easy, just visit www.startupindia.gov.in and click on the register option. Create your account by filling in your details and then enter the OTP and other details like, user type, name and stage of the startup, etc and click on the ‘Submit’ button. After entering these details, the Startup India profile is created.
Once your profile is created, you can apply for the acceleration/ incubator programs, competitions, along with other resources, etc.
3. DPIIT Recognition
Department for Promotion of Industry and Internal Trade (DPIIT) Recognition, this can be done through the startup India website only. It basically aids you with intellectual property services and resources, self-certification under labour laws and environmental laws, access to funds, tax exemptions and more. For getting DPIIT Recognition, log in with your registered account credentials on the Startup India website and click on the ‘DPIIT Recognition for Startups’ button under the ‘Schemes and Policies’ tab. Then click on the ‘Click here for submitting your application for recognition as a Startup’ button at the end of the page.
4. Fill Application Form
After the 3rd step you will reach the Startup Recognition Form, fill in all the required details in there like entity details, full address (office), authorised representative details, directors/partner details, information required, startup activities and self-certification.
Now that you have filled in all the details, wait for it to get verified, it doesn’t take long. After the verification is complete, you will receive an email with the registration certificate.
Incorporation/Registration Certificate of your startup
Proof of funding, if any
Authorisation letter of the authorised representative of the company, LLP or partnership firm
Proof of concept like pitch deck/website link/video (in case of a validation/ early traction/scaling stage startup)
Patent and trademark details, if any
List of awards or certificates of recognition, if any
Frequently Asked Questions
1.Who can register?
A company, partnership, or limited liability partnership that has been incorporated may register under the startup India programme. These commercial entities must have an annual revenue of no more than Rs. 100 crores and be active for at least ten years after its establishment or registration. The goal of such an organisation should be the invention, development, or improvement of goods, services, or procedures.
2. Can foreign companies register under Startup India ?
The foreign company must have atleast one registered office in India to be registered under the Startup India scheme.
3. What is an Incubator?
Startup incubators are often organisations that support business owners by helping them grow their enterprises, particularly at the beginning. Institutions with expertise in business and technology typically perform the incubation function.
4. What is an Accelerator?
Startup accelerators aid growth-oriented, early-stage businesses. These programmes typically have a duration during which time each company works with a group of knowledgeable mentors who may also offer financial assistance for anywhere between a few weeks and a few months.
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