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A startup is an entrepreneurial venture in the early stages of operations, typically created for resolving real-life problems. These companies typically don’t have a fully developed business model and, more crucially, lack adequate capital to move onto the next phase of business.
Any company which fall into below list of category will be called as “Startup” and eligible to be recognised by the DPIIT to avail the benefits from the Government of India.
- Age of the Company
Period of existence and operations should not be exceeding 10 years from the Date of Incorporation.
- Type of Company
Should have been Incorporated as a Private Limited Company or a Registered Partnership Firm or a Limited Liability Partnership.
- Annual Turnover
Should not exceed Rs.100 crore for any of the financial years since its Incorporation.
- Original Entity
The company or Entity should have been formed originally by the promoters and should not have been formed by splitting up or reconstructing an existing business.
- Innovative & Scalable
Should work towards development or improvement of a product, process or service and/or have scalable business model with high potential for creation of wealth & employment.
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Note: This Post was last updated on December 2, 2023
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