What is Startup?<\/h3>\n
A startup<\/strong><\/a> is a newly established company, usually small, that is started by a single or small group of people. A startup provides a different good or service that isn\u2019t provided elsewhere similarly, which distinguishes it from other young businesses.<\/p>\n The Startup India Scheme<\/strong><\/a> is an initiative launched by the Government of India in 2016<\/strong> to promote and support startups in the country. The scheme aims to create a favorable environment for entrepreneurship<\/strong><\/a> and innovation and help startups grow and succeed.<\/p>\n Here is a comprehensive guide on how to start a business under the Startup India Scheme:<\/strong><\/p>\n The first step to starting a business under the Startup India Scheme is to check your eligibility. To be eligible for the scheme, your business must be registered as a private limited company<\/strong><\/a>, a partnership firm, or a limited liability partnership (LLP)<\/strong><\/a>. It must also be less than seven years old, and its annual turnover should not exceed Rs 25 crore.<\/p>\n Once you have confirmed your eligibility, the next step is to register your business<\/strong>. You can do this through the Startup India Portal<\/strong><\/a>, which is an online platform that facilitates the registration process. You will need to provide some basic information about your business, including its name, address, and type of entity.<\/p>\n After registering your business, you can apply for a certificate of recognition from the Department for Promotion of Industry and Internal Trade (DPIIT)<\/strong>. This certificate is essential because it makes your business eligible for various benefits under the Startup India Scheme. The certificate of recognition is also a mark of credibility that can help you attract investors and customers.<\/p>\n To apply for the certificate of recognition, you will need to submit some documents, including the certificate of incorporation, a brief write-up about your business, and a description of the innovative nature of your products or services. The DPIIT<\/strong> will review your application and issue the certificate of recognition if your business meets the eligibility criteria.<\/p>\n One of the most significant benefits of the Startup India Scheme<\/strong><\/a> is the funding opportunities it offers to startups. The scheme provides funding through various government schemes and private investors. Some of the government-funded schemes that you can apply for include the Fund of Funds for Startups (FFS), Credit Guarantee Fund Trust for Micro and Small Enterprises<\/strong><\/a> (CGTMSE), and Small Industries Development Bank of India (SIDBI).<\/p>\n To apply for funding, you can submit your business plan and other relevant documents through the Startup India Portal or directly to the relevant government agency. Private investors, such as angel investors and venture capitalists, also invest in startups registered under the scheme. You can connect with these investors through networking events, incubators, and accelerators.<\/p>\n The Startup India<\/strong> Scheme also offers mentorship programs to help startups<\/strong> grow and succeed. These programs provide guidance and support in various areas, including business strategy, marketing, legal compliance, and financial management. You can access these programs through the Startup India Portal<\/strong> or by joining an incubator or accelerator that is part of the scheme.<\/p>\n Startups registered under the Startup India Scheme can avail of various tax benefits. These benefits include exemption from income tax for three consecutive years, exemption from the capital gains tax, and more. To avail of these benefits, you will need to submit the relevant documents to the income tax<\/strong><\/a> department.<\/p>\n 1) Certificate of Incorporation<\/p>\n 2) Copies of the articles of association or the memorandum of association for an LLP or company<\/p>\n 3) The information about the directors, including names, phone numbers, and pictures.<\/p>\n 4) Social media or website connection for the entity.<\/p>\n 5) Details if any about IPR.<\/p>\n 6) If a company receives financing assistance from investors, the fund details.<\/p>\n 7) A list of any awards or badges of achievement.<\/p>\n 8) Mobile number & Email Id<\/p>\n 9) Company details<\/p>\nkey Takeaways<\/h4>\n
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What is Startup India Scheme?<\/h3>\n
Step 1: Check your eligibility<\/h4>\n
Step 2: Register your business<\/h4>\n
![\"Startup](\"https:\/\/www.kanakkupillai.com\/new-learnwp-content\/uploads\/2022\/03\/Startup-India-Portal.jpg\")
<\/p>\nStep 3: Get a certificate of recognition<\/h4>\n
Step 4: Apply for funding<\/h4>\n
Step 5: Access mentorship programs<\/h4>\n
Step 6: Avail of tax benefits<\/h4>\n
Documents Required For Startup India Registration<\/h3>\n