- Eligibility Criteria for Startup Recognition by DPIIT:
- The Startup should be incorporated as a private limited company or a limited liability partnership;
- Turnover should be less than INR 100 Crores in any of the previous financial years;
- 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;
- An entity formed by splitting up or reconstruction of an existing business shall not be considered a “Startup”.
- 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.
- 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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