Startup India

• Eligibility Criteria for Startup Recognition by DPIIT:

1. The Startup should be incorporated as a private limited company or a limited liability partnership;
2. Turnover should be less than INR 100 Crores in any of the previous financial years;
3. An entity shall be considered as a startup up to 7 years from the date of its incorporation, in case of biotechnology sector it shall be up to 10 years;
4. An entity formed by splitting up or reconstruction of an existing business shall not be considered a “Startup”.

·        Financial Benefits

1. The Start-up India Scheme provides its applicants and registrars with financial benefits for their organization. The government offers a refund of 80% for the high patent costs borne by the startups. It also assists in facilitating the patent registration process faster for startups.
2. The government launched the Pradhan Mantri Mudra Yojana in April 2015 in collaboration with regulated banks and NBFCs that provide Startup India loan to non-corporate, non-farm MSMEs in their initial or growth stage.

To be continuted with the next writting.. so please stay connected……………..

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