In India, startups are getting increasingly popular. The Startup India project aims to create a robust ecosystem that promotes startup growth. The Startup India Scheme is managed by the Department of Industrial Policy and Promotion (DPIIT).
Steps to register a startup in India
The startup registration procedure is as follows:
Step 1: Incorporate Your Business
For startup registration in India, you must first register your company as a Private Limited Company, Partnership Firm, or Limited Liability Partnership. Then, you’ll need to go through the usual steps to register a company, such as getting the incorporation certificate, the PAN, and any other necessary regulatory standards.
Step 2: Register With Startup India
Now you need to register your firm or company as a startup in the Startup India scheme of the government. You just need to fill the form available for you on the Startup India website. You have to fill in all the details and upload a certain number of documents as well.
Step 3: Get DPIIT Recognition
The next step after creating the profile on the Startup India Website is to avail the Department for Promotion of Industry and Internal Trade (DPIIT) Recognition. Due to their status as early-stage companies, startups now have access to several privileges, such as lower barriers to public procurement, self-certification under labour and environment regulations, streamlined dissolution procedures, and access to a pool of capital for three years. To get the recognition from DPIIT, you need to hit the ‘Dashboard’ button and further hit the ‘DPIIT Recognition’ option if you have an existing profile.
Step 4: Recognition Application
Go through the details of the recognition application shown on the website. In the registration details area of this screen, choose to see/ view details from the menu. Please submit the form after you’ve completed it.
Step 5: Documents for Registration
- Incorporation/Registration Certificate of your startup
- Proof of funding, if any
- Authorisation letter of the authorised representative of the company, LLP or partnership firm
- Proof of concept like pitch deck/website link/video (in case of a validation/ early traction/scaling stage startup)
- Patent and trademark details, if any
- List of awards or certificates of recognition, if any
- PAN Number
Step 6: Acknowledgement Count
Immediately upon submitting your application, your startup will be assigned a recognition count. The certificate of recognition is issued after all of your paperwork has been reviewed. It should take no more than a couple of days from the time you submit the required information online.
Documents required for Startup India Registration
- Director’s Complete Profile Verification Details.
- PAN Card Number
- Written Proof related to your official website, link, or pitch deck. Needed for validation, speaking, early traction, or a staged startup.
- Startup’s incorporation or Registration Certificate.
- Details about patent and trademark.
- Articles of Association/Incorporation
- A Non-Disclosure Agreement (NDA)
- Employee Contracts and Offer Letters
- Shareholder’s Agreement
- Intellectual Property Assignment Agreements
- Founder/ Co-Founder Agreement
- Business Plan/Pitch Deck
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Note: This Post was last updated on July 16, 2022
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