Get recognised under Startup India Initiative and enjoy the
benefits the Government provides to startups in India. Now the requirement to
be examined by the inter-ministerial board has been done away with. So you would
now require only a certificate of recognition from the Department of Industrial
Policy and Promotion (DIPP) and would not be required to be examined by the
inter-ministerial board.
Eligibility Criteria
An entity, incorporated or registered in India:
Not
prior to seven years, however for Biotechnology Startups not prior to ten
years,
With
annual turnover not exceeding INR 25 crore in any preceding financial year, and
Working
towards innovation, development or improvement of products or processes or
services, or if it is a scalable business model with a high potential of
employment generation or wealth creation
Provided
that such entity is not formed by splitting up, or reconstruction, of a
business already in existence
Recommendation Letter
So if you think you meet these criteria, apply with a
recommendation letter, from:
approved
incubator,
industry
association recognised by DIPP,
angel/VC
holding more than 20% equity in the startup,
government
departments which have extended funding
or, give
details of patent filed
Letter of recommendation has to be supported by a Brief note or
a supporting document regarding the innovativeness of the idea of the product
or services offered by the entity. The FORMAT for the above mentioned “Letter
of Recommendation, Letter of Support
from Incubator, Letter of Funding from SEBI, Recommendation letter from
Industry Association/Organisation” is available on http://www.startupindia.gov.in/startup-recognition.php.
An application for a certificate is processed within a period of
10-25 working days from the date of Application, if accepted, the certificate
is available to be procured.
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