Register Startup In India
The startup is the term which is referred to a business that is in the initial stage of operations. So, the startups will be founded by a single or more business owners who are searching for ways to create the product/ service for which they think there is an increased demand. So, such an organization will generally start from the increased cost along with the limited revenue and this is the reason why they will be searching for capital from an array of sources which will be including venture capitalists.
The startup is the business that is present in the initial stage of the business. The founders will be normally financing the startups as well as attempting to attract investment externally before they get off the ground. The funding sources will include family, friends, venture capitalists, crowdfunding as well as loans. Also, the startups will be considered, where they are carrying out the business activities along with their legal structure. The startups are accompanied by an elevated level of the increased risk as there is the possibility of failure and this can be an extremely unique place to work along with seeking extraordinary advantages, focusing on innovation as well great chances of learning.
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The Indian Government has initiated as well as promoted the Startup India initiative which is meant for the development of the Indian economy, and the recognition as well as promotion of startups to attract talented business owners.
The Governmental authorities have already brought forward this flagship initiative which is intended to develop an extremely strong eco system for the purpose of nurturing innovation as well as new businesses within the nation for driving sustainable economic growth as well as generating extensive scale opportunities for employment. In addition to this, there is an action plan that was being launched and contains 19 of the action items which span across several of the regions for example the simplification as well as the handholding. The funding support as well as the incentives along with the industry-academia partnerships as well as the incubation.
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The Governmental authorities have already made quite the quick paced of efforts to make the Startup India initiative into the real thing. So, there has been substantial progress which has been made according to this initiative and this has already stirred the spirit of entrepreneurship all across the nation.
Here is the eligibility criteria for startup Registration India:
Here are the factors that need to be considered for seeking the DPIIT certification for recognition
The existence period along with the operations of the company should not be exceeding greater than 10 years from the formation date
The DPIIT recognition certification is extended to the business that is either incorporated as a PLC, Private Limited company, LLC, limited liability partnership, or registered partnership firm
To seek DPIIT certification of recognition, the company must have an annual turnover of greater than INR 100 crores during any of the fiscal years since the federation
For seeking DPIIT recognition certification, the business should not be having the incorporation through the splitting up or the re-establishing already existing of the entity.
The unit should be in the position of working for the improvement/ development of the product/ process or the services
The entity should also have a scalable of business model having the huge potential for the creation of wealth as well as employment. So, the firm should have a huge potential for employment or the creation of wealth.
The documents required for the DPIIT Certificate of Recognition for Startups are listed as follows:
-Incorporation certification/ registration entity
-When the startup will not be getting any funding, then there needs to be the funding proof to furnish for the DPIIT certification or startup recognition
-Award documentation/ recognition received through entity
-Paper of any of the patent which is published through entiy
Here is what all the description should contain Certificate of Incorporation or Registration of entity
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Here are the steps that the business should adhere to for seeking the DPIIT recognition certification
As stated, the entity must be in the position of incorporating the business like the PLC, partnership firm or LLP, limited liability partnership
The business is required to be registered through the Startup India scheme to seek DPIIT recognition certification
The applicant entity is required to gain access to the startup India recognition portal for the purpose to startup Registration in India for seeking the DPIIT certification of recognition for the startups.
Details of entity
This will include the nature of the entity, industry, sector, categories, company, incorporation number as well as the date of registration
The DPIIT recognition certification for startups will be issued after the assessment of the application along with the submission of the paperwork
Once the ministry approves the application procedure as well as extends the unique startup recognition number then the entity will be registered with the concerned authorities along with availing the taxation advantages.
Entity incorporation
Make sure to incorporate entities like the PLC, private limited company, partnership firm, and limited liability partnership(LLP). So, make sure to adhere to the normal of processes for registering any of the units. This will include the submission of the registration application, along with seeking partnership registration.
Registration with Startup India
There must be the registration of the business just like the startup. So, the whole of process is simple, straightforward as well as online. All you have to do is to visit the site & click on the registration button. Enter your name, email ID, contact details, and password and simply click upon the register button
Seeking DPIIT recognition
So, DPIIT recognition will assist startups in seeking several of the benefits, for example, accessing premium quality intellectual property, resources, relaxation in public procurement processes, norms, self-certification, as per labor as well as the environmental laws.
Application recognition
Upon startup recognition form, you are required to fill in all the details for example information about the entity, address of office, details of the authorized representative, director/ partner detailing, information needed, activities of the startup as well as the self-certification. Clicking upon + sign which is lying form’s right-hand side and will be entering each of form’s sections.
Registration certification of startups
Once you submit an application and it is verified, then you will get the recognition number of the entity. The recognition certification will be having the issuance after the evaluation of all paperwork. This will be conducted within two days of submission of all the details online.
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Whenever you will be required the patent for innovation/ trademark for business, then you will be able to approach one of the facilitators, that the Government will be issuing. So, you are required to bear just the statutory of fee structure for seeking an 80% reduction within the cost.
This is one of the most eminent of the challenge which is faced by several of the startups that are searching for finance. So, owing to the lack of experience, and security/ prevailing of cash flows, the businesses will be failing to attract investors.
Seek comprehensive assistance to fasten & streamline entire of the entire startup India registration process. Legal Raasta is top notch startup India registration service provider employed dedicated and expert legal team that takes care of the whole process ranging from application filing, and documentation the further follow-ups. Also, the experts will ensure that all the information is accurate, updated as well as verified. Our experts are here to guide you all throughout the process to ensure that the application filing process is hassle-free and you can get the startup registered within a minimum turnaround of times.