One of the most difficult tasks to manage in a modern organization is the management of its employee base. HRMS Medicover simplifies both HR management and employee self-service with a comprehensive digital platform available that automates and centralizes employee operations. It allows the HR professional to address everything from payroll and attendance to leave tracking […]
Asia is undergoing a financial revolution that is changing the way people use money or get loans, invest, and carry out transactions. With countries such as Singapore, India, Indonesia and Hong Kong all embracing digital financial solutions at lightning speed, Asia has become a world centre of fintech innovation. Central to this process is FintechAsia […]
In today’s fast-moving digital economy, Commerce Advice OnPressCapital has become a useful source of business wisdom for entrepreneurs and startups looking to thrive on the internet. Whether you’re doing a business through your small computer or responsible for managing the development of a brand, in finance, internet marketing and strategy right guidance can mean ultimate […]
The finance industry today is undergoing a huge transformation, in which innovation, digitization and technology truly are key. As Ftasiafinance business trends from fintechasia continue to develop, they are even changing the way in which individuals and organizations manage their money, influence investments and engage with originating systems. From artificial intelligence to blockchain and green […]
This comprehensive guide will offer you everything you need to know. How does this code work, where do you find the members in 2025, what warning signs seem apparent and what safer alternatives can actually save on hotel bookings? Let’s get going. What Is the Discount Code ttweakhotel? A discount code the term “code” is […]
Collaboration has become the foundation of a successful business. See I know that in this era all business, large or small now cannot do without digital transformation. Whether it’s a small start-up or the most famous international brand, the ability to achieve results that are integrated culturally, structurally and collectively makes for sustainable growth in […]
When it comes to names in the Indian startup scene, one that stands out is Ritesh Agarwal. This young man’s credit carries ambition, creativity, entrepreneurial ideology, and more. He is both founder and CEO of OYO Rooms, which has transformed the way we book budget hotels with its myriad implementations of innovation. With a keen […]
Real Name Malavika Hegde Birth Year 1969 Birth Place Bengaluru Father’s Name Somanahalli Mallaiah Krishna Husband Name V.G. Siddhartha Current Post C.E.O of C.C.D Malavika Hegde’s CCD is an interesting story of grit and leadership. CCD was in a terrible soup when it lost its founder V.G. Siddhartha. It had a debt burden of a […]
The entrepreneurial scenario in India has changed over the last decade. The Indian government is supporting innovation through its Startup India initiative, creating employment opportunities and accelerating economic growth. In this blog, let's discuss Startup India, including its objectives, benefits, and eligibility criteria; also, know how to get a startup registered under this initiative.
A startup is the early stage of a company that is formed to develop a unique product or service, introduce it into the market, and scale it to make substantial revenues. Startups are an important part of innovation, job creation, and diversification in the economy. In India, startups play a critical role in driving technology adoption and solving complex challenges in areas such as healthcare, education, and financial inclusion.
Startup India is one of the flagship initiatives of the Government of India, launched on January 16, 2016. It aims to build a robust ecosystem that nurtures innovation and startups across the country. The idea is to give an impetus to economic growth and employment generation in a substantial way. Startup India seeks to encourage entrepreneurship by giving a boost to innovation and design, thus leading to the growth and success of the startup ecosystem.
Standup India Scheme Standup India scheme was announced on April 5, 2016, to finance new enterprises, to boost the entrepreneurship culture in India. The program ensures the availability of loans through the Scheduled Commercial Banks (SCBs), between ₹10 lakh and ₹1 crore to at least one member of the Scheduled Caste (SC) and Scheduled Tribe (ST), and at least one woman, per bank branch. The support in this new scheme is granted to businesses in the trading, services, or manufacturing sectors. This will supposedly help about 250,000 borrowers.
If you want to get funding through the Start-up India scheme, you need to meet certain eligibility requirements. Knowing these requirements well will help you successfully go through the application process.
Here are the requirements:
Step 1: Start Your Business
The first step in starting your business is to choose a legal structure, such as a Private Limited Company, Partnership, or Limited Liability Partnership (LLP). You will need to complete the standard registration process, which involves submitting an application and obtaining a Certificate of Incorporation or Partnership registration.
Step 2: Register with Startup India
Once you have created your business, the next step is to register it as a startup. This process is straightforward and can be completed online. First, visit the Startup India website and click the 'Register' button. Enter your name, email address, and mobile number, then create a password and click 'Register.' You will receive a One-Time Password (OTP) in your email. Enter this OTP and provide additional information, such as your user type, business name, and the stage of your startup. Finally, click 'Submit' to create your Startup India profile. Completing this registration will help your business be recognized as a startup under the Startup India scheme, granting you access to various benefits and support.
Step 3: Obtain DPIIT Recognition
After creating your profile on the Startup India website, the next step is obtaining recognition from the Department for Promotion of Industry and Internal Trade (DPIIT). This recognition provides benefits such as quality intellectual property services, relaxed public procurement rules, self-certification for labour and environmental laws, simplified winding-up procedures, access to the Fund of Funds, and tax exemptions for three years.
Step 4: Submit the Documents for Registration
Step 5: Self-Certification of Eligibility Conditions
Step 6: Obtain Your Recognition Number
When applying for registration, you will receive your recognition number immediately. The authority will send you the certificate of registration or incorporation after reviewing your uploaded documents. Ensure that you upload accurate information to avoid errors, as mistakes can lead to fines of up to 50% of your paid-up capital or a minimum of Rs. 25,000. By fulfilling the eligibility and registration requirements, your company can participate in the Startup India scheme and enjoy various benefits provided by the government.
The Startup India initiative has revolutionized the entrepreneurial landscape in India by offering financial, regulatory, and infrastructural support. If you’re an entrepreneur with an innovative idea, registering under this program can unlock numerous opportunities for growth and success. Begin your startup journey today and contribute to India’s transformation into a global hub for innovation.
Q1. What is the aim of the Startup India initiative?
Ans: Startup India aims to promote entrepreneurship, support innovation, and create a robust startup ecosystem in India.
Q2. How long does it take to register under Startup India?
Ans: The registration process typically takes 2–3 weeks, depending on document verification.
Q3. Are there any fees for registering under Startup India?
Ans: No, the registration process under the Startup India initiative is free of cost.
Q4. Can a sole proprietorship register under Startup India?
Ans: No, only Private Limited Companies, LLPs, and Partnership Firms are eligible to register.
Q5. What are the tax benefits available to startups?
Ans: Startups can avail of income tax exemptions for three consecutive years and exemptions on long-term capital gains.
Q6. Is the Startup India initiative open to foreign startups?
Ans: No, the initiative is exclusively for startups registered and operating in India.