TwitterHow Startup India Recognition Certificate benefits you?
StartupIndia is flagship scheme of the Govt of India, operated by DPIIT (Department for Promotion of Industry and Internal Trade) under Ministry of Commerce and Industry. Launched on 16th January, 2016, the Startup India Initiative has rolled out several programs with the objective of supporting entrepreneurs, building a robust startup ecosystem and transforming India into a country of job creators instead of job seekers. In India, public procurement (government tenders) can also present useful pilot opportunities for startups that have not yet been able to gain traction in the private sector. Conversely, opening government tenders up to startups improves the choices available to government bodies since startups are often more agile than corporate vendors and can provide cheaper, more innovative products and services. DPIIT recognised startups are exempt from requirements of Prior Experience, Prior Turnover and Earnest Money Deposit on the GeM platform.
Eligibility to Apply for StartupIndia Recognition or DPIIT Startup Certificate
Private Limited Company,OPC,LLP and Registered Partnership can Apply for Startup Recognition subject to fulfilment of below conditions
- Working towards innovation, development or improvement or of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.
- Whose turnover not exceeds Rs 100 crores in any Financial Year since incorporation/registration.
- Entity should not formed by splitting up or reconstruction of an existing business
- Ensure Entity was neither incorporated/registered as a subsidiary of any Indian or foreign entity nor is a subsidiary of any Indian or foreign entity.
- Company not too old. We suggest upto 6 years old entity should go for Startup Recognition.
Benefits of StartupIndia Recognition (DPIIT) Certificate
- Easy Public Procurements: - Startups are exempted from otherwise stringent selection criteria such as Prior Experience, Prior Turnover and Earnest Money Deposits
- GeM Startup Runway: - DPIIT Recognized Startups can view the GeM Startup Runway on their GeM dashboard, where they can spread awareness about their product by completing a form that describes their product as well as intended buyers and uses (Minitries/Departments).
- 3 years Income Tax Exemption Benefits: - recognised Startup can Apply for this benefits separately with DPIIT subject to meet other criteria.
- Govt. Funding Opportunity under Startup Scheme
- IPR Govt. Fee Concession - 50% rebate in Trademark fee and 80% in Patent.
- Self-Certifications and compliance under 9 environmental & labour laws.
- Participate in various Govt. financial assistance scheme in innovative solutions
- Networking with other Startups
- Easy Winding up in 90 days under insolvency & Bankruptcy code 2016.
Documents Requirements for Startup Recognition Apply
Below are the essential documents and details we need to apply to DPIIT for startup recognition
- Certificate of Incorporation for Pvt. Ltd. / OPC/ LLP & for Firm - Firm Registration Certificate
- PAN Card Copy of the Entity
- All Directors/Partners/Authorised Person's - Name, Complete Address, Gender, Designation, Mobile and Email ID
- Brief Description of your business and its Innovation, Solutions, Uniqueness and Revenue generation.
- Website /mobile App link / Pitch Deck / Video/Patent (anyone)
- Company Logo (Optional)
- MSME Registration number (Optional)
You could call us on 9654711011 OR on 0124-4075701 write to us or e-mail us on p4legalip@gmail.com for immediate needed assistance, steps, and legal advisory.
Prior to fixing up meeting/ conference, you may call on 09654711011or on 0124-4075701 or write to us on p4legalip@gmail.com for necessary fee structure and quote and/or to know about the consultation& professional charges for needed legal representations.
