The term startup is considered as the business entity which is in its initial stages of operations. The startups are founded by either a single or more than one of the entrepreneurs who intend to provide products/ services to the public for which they believe there is a demand. So, such businesses will be starting with increased costs along with limited revenue, when they will be looking for capital from many distinct sources for example venture capitalists.

Understanding about startups

The startups are businesses/ ventures that are being focused upon a single offering( products/services) that the founders will be looking forward to bringing to the market. So, such organizations won’t typically have a developed business model or lack adequate capital for moving toward the next phase of the business. Also, the majority of the companies will be initially funded through the founders. Many of the startups will be turning towards others for greater funding and this will include family, friends as well as venture capitalists.

Read Also This – A Complete Guide On Startup Registration In India: Benefits, Documentation & Procedure

What are Government initiatives for startups in India?

The Governmental authorities will be supporting all the young business enthusiasts in establishing their startups. The reason is that it is going to give a boost to the economy of the country. Also, the startup is the business entity that offers the most innovative of the products/ services and extends solutions to problems existing in the society. So, the startup will be redeveloping the existing products/ services and transforming them into something much better.

Startup India initiative

The Government of India has already taken the initiative of starting as well as promoting the Startup India program for growing the Indian economy, promoting new businesses along attracting new talents.

What is the procedure of startup registration India?

  • Incorporating business entity

    • The first step is the incorporation of the business entity whether it is a private limited company(PLC), partnership firm, or LLP( limited liability Partnership). Make sure to adhere to all the procedures for registering your business for example submission of the registration application, seeking certification of incorporation, or partnership registering.

  • Also, there is the provision of incorporation of the PLC( private limited company), or LLP( limited liability partnership). This is done through filing the application for registration with the registrar firms of your specific region. Also, you need to submit the requisite paperwork along with the fees to the company registrar
  • Registration with Startup India

    • Also, the specific business entity must have registration as a startup. The whole procedure is online, simple, and also sophisticated. So, you need to visit the site of the Startup India, by clicking upon the registrar icon. Make sure to enter your name, email ID, contact details, and password along with clicking on the register icon.

  • The next step is entering the OTP which is being sent to the email along with other details for example user type, name, startup stage, and much more along with finally clicking on the submit button.
  • Once these details are entered, there will be creation of the startup India profile. After, the creation of the profile on site, the startups will be applying for many of the acceleration as well as incubator programs on sites as well as seeking access to learning resources, funding provisions, Governmental schemes as well access to the market.
  • Seek DPIIT recognition

    • The next step once the profile is created on the startup India is to seek the DPIIT( department of Promotion of Industry & Internal Trade) recognition. Such type of recognition will assist the startups in seeking benefits for example access to premium quality intellectual property solutions as well as resources, relaxation in terms of public procurement regulations, self-licensing as per labor & environmental laws, convenience in terms of winding company, access funding, exemption to the taxation for period of 3 consecutive years, exemption on taxation on investment which is greater than fair of the market value.

  • For seeking DPIIT identification, make sure to log in and register of the account credentials on-site as well as click upon the icon to apply for DPIIT recognition under the respective tab.
  • Recognition application

    • Upon startup recognition form, you are required to fill out all the details which will include information about your business, complete office address, authorized representative details, director or details of partner, information needed, activities of all startups as well as the certification. So, all you have to do is to click upon the plus signs which are printed on the form’s right-hand side along with entering form’s each & every action.

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    Documentation for registrar

  • Incorporation or registration certification for startups
  • Funding proof
  • Authorization letter of the company/ LLP/partnership representative
  • Concept proof for example pitch decking/ website linking, video
  • Details of patent/ trademark
  • Awards list or recognition certification
  • PAN number
  • Recognition number
  • Other regions
  • Patents, trademarks, or design registrations

    • Whenever you require a patent for innovation or a trademark for business, then you can conveniently approach from the facilitator’s list having issuance from Governmental authorities. So, you are required to bear just the statuary fees while seeking around 80% of the fee reduction.

  • Self-certification

    • The startups will be self-certifying as per the labor & environmental laws and also in that case, there will be a reduction in the compliance cost.

    The self-certification is extended for reducing the regulatory burden and facilitating them for focussing on core business. So, the startups will facilitate the self-certification of the compliances as per the labor & environmental regulations for an extended duration of 3-5 years from incorporation tenure.

    What is the procedure for seeking startup registration in India?

    The Government of India has already simplified the startup India registration procedure. And many of the young & budding entrepreneurs are required to seek the 5-step process for getting their startups registered. Here are the steps for registering your startup in India:

  • Business incorporation

    • There must be the incorporation of the company in terms of the LLP, PLC, or partnership firm. Also, you are required to submit the application form for the receipt of the incorporation certification. Make sure to submit an application form to register startup in India , to the companies/ registrar of firms as well as all the crucial paperwork as well as fees.

  • Registration with Startup India

    • The firm is required to register on the Startup India site.So, you are required to visit the official site as well as click upon the registration provision. Make sure to fill in the requisite of the detailing as well as the creation of the account. Then, there will be the creation of the startup India profile. Once this is accomplished, you are eligible for acceleration programs, competitions as well as other resources.

  • Seek DPIIT recognition

    • The DPIIT( department of Promotion of industry & internal trade) recognition will be assisting you through world-class intellectual property solutions as well as resources. Also, you are required to log in the register the account on the website for Startup India along with clicking upon DPIIT recognition for startups as per the schemes as well as the policies tab. After that, you need to click for submission of application for recognition on the button displaying startups.

  • Fill recognition application form

    • This is the next step where you need to fill Startup India registration form. Make sure to enter all the details for example address of your office, authorized representative detailing, partner/ director information, all activities undertaken by an entity as well as the self-certification. Once such details are filled in, make sure to click upon the terms and conditions accepted, while submitting the form.

  • Obtain registration certificate

    • The next and last step is to wait for all the details to get verified. Once the procedure of verification is accomplished, there will be a receipt of the email along with the registration certification. The paperwork needed for the whole of the startup registration India procedure will include incorporation/ registration certification for a startup, PAN number, funding proof, and many other papers.

    Read Also This – Schemes, Features, Eligibility Criteria & Process For Startup Registration In India

    Hire Consultants For Startup Registration In India

    Now startup India registration is possible with the help of expert consultants who will guide you throughout the procedure. The team of specialists will ensure that the form is filled with all the requisite information, product description, as well as all the prescribed documentation. So, the consultants are here to assist you in seeking startup India registration in a convenient, affordable way within the minimum stipulated time frame.