DPIIT Startup (2023 Handbook)

The Department of Industry and Domestic Trade Promotion (DPIIT) recently announced an initiative aimed at boosting the growth of start-ups in India. This initiative provides a platform for entrepreneurs and creative people who want to turn their ideas into successful businesses. Let’s look at the eligibility and process of DPIIT startup registration.

What is DPIIT Registration?

Launched in 2016, the Startup India Scheme is the flagship scheme of the Government of India. Startup India aims to create new products and services while increasing employment rates in India.

To access various tax incentives, ease of compliance, fast tracking of IPRs, and other benefits under the Startup India initiative, eligible companies must apply to the Department of Industry and Internal Trade Promotion (DPIIT).

The Small Industries Development Bank of India (SIDBI) is the operational agency, and the DPIIT serves as the Fund of Funds for Startups` monitoring agency (FFS). The aim is to reduce the regulatory burden for start-ups, allowing them to focus on their core business while reducing compliance costs.

As part of the Government of India’s Startup India initiative, the Ministry of Industry and Internal Trade Promotion is helping start-ups to self-certify and comply with the country’s environmental and labor laws. Startups approved by DIPP can also take advantage of Intellectual Property Rights benefits like IPR fast track, etc. without needing any additional approval from the Inter-Ministerial Board

DPIIT Startup Registration Process

Steps of DPIIT Registration

1. First Startup India Recognition Portal to register with Startup India and get DPIIT Startup Recognition Certificate.
2. Then provide the entity details.
3. Type of company, industry, industry, division, corporate number, date of registration
4. Full address of the entity
5. Authorized representative details
6. Add director or partner details
7. Intellectual property details
8. Funding details
9. Company recognition and start-up activities
10. Upload the required documents.
11. Then, after reviewing the application and submitted documents, a DPIIT certification for start-ups will be issued.

After the Ministry approves the application and assigns a unique startup identification number, the startup can register for tax incentives.

DPIIT Registration Eligibility

The eligibility criteria are as follows:

Company age: The duration and operating period shall not exceed 10 years from the date of establishment.

Company type: Incorporated as a limited liability company, limited liability company, or limited liability partnership.

Annual Turnover: Annual turnover not exceeding Rs 100 crore for any of the financial years since its Incorporation.

Original Entity: A legal entity may not be created by a split or reorganization of an existing company.

Innovative and scalable: Must strive to develop or improve products, processes, or services and/or have a scalable business model with high potential for wealth and job creation.

DPIIT Recognized Startup List:

DPIIT Startup Registration Fees

Startups do not need to pay any fees to the Ministry of Commerce and Industry to obtain the DPIIT Certificate of Recognition for Startups.

Wrapping Up

The DPIIT Startup Program supports budding entrepreneurs through scholarships, mentoring, networking opportunities, and access to resources. DPIIT hopes to foster a culture of entrepreneurship in India that will lead to long-term economic growth.

Recommended Articles

Startup India Upgrad (The Definitive Guide)

Startup Current Account (The Hassle Free Solution)