How to Register your Business under Start-up India Government Scheme in Electron

Posted by Vignesh on May 10th, 2021

According to Start-up company registration in Electronic city, the government of India has introduced many various measures for the advancement and improvement of the Indian start-ups so far. These created a great number of benefits for the growth and development of Indian start-ups have been established. The government has likewise opened various ways for giving economic guidance and assistance to the MSMEs and small business sectors.

The Ministry of Commerce & Industry had started improving and boosting up the start-up business sectors under the various remarkable initiative known as Start-up India or Stand-up India Scheme.

Under this scheme, a business entity has a firm that will continue to be termed as a Start-up, if the company’s annual turnover for any of the previous fiscal years since the beginning of the business does not exceed more than ₹100 crores. Previously the doorsill limit was ₹25 crores.

In addition, the time period for identification of a business as a ‘start-up’ has been increased from 7 years to 10 years.

We must first understand what is the Start-up India and Stand-up India scheme.

AN GENERAL REVIEW OF START-UP INDIA STAND-UP INDIA SCHEME

Start-up Business Consultants in Electronic city has an adverse “start-up culture” is gaining a huge name in India. In several fields, Start-ups are achieving exceptionally high in India. With a view to further improve the quality of the Indian economy and also to encourage entrepreneurship, the Government of India has taken under the administration of the Ministry of Commerce & Industry, that had begun the Start-up India and the Stand-up India initiative in 2015 to boost up the growth of the Indian start-ups.

BASIC CRITERIA OF GETTING REGISTERED UNDER START-UP INDIA

In order to get recognition and identification under this beneficial scheme, start-ups have to get approval from the Department of Industrial Policy and Promotion (DIPP).

The start-ups are required to achieve various conditions for getting approved under the Start-up India Stand-up India scheme.

CONDITIONS FOR GETTING REGISTERED AS START-UP ON START-UP INDIA SCHEME

In start-up Registration services provider in Electronic city A business entity that meets the following conditions shall be termed as “start-up” under the Start-up India or Stand-up India scheme:

Incorporation of a company should not be before the time period of 10 years

Must be incorporated as a LLP or an Partnership firm or an Private Limited Company

The Annual Turnover of a start-up must not exceed more than INR 100 crore for any of the previous financial years since its date of Incorporation.

The Entity or a company should have been formed already by the promoters and should not be merged by the division of an already existing company or entity.

Innovative concept: The business must have a solid concrete plan for the progress or the development of a service, process, and product. It must have a climbed business model with a high prospective for the increasing of wealth & employment generation.

Such a business will be recognized and will be certified by the Department for Promotion of Industry and Internal Trade (DPIIT).

How to Apply for Start-up COMPANY REGISTRATION in Electronic City?

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