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How can a company register for the Startup India Scheme

How Can A Company Register For The Startup India Scheme?

We have already discussed the various features and benefits of the Startup India Scheme at length now. Let us now understand the process of registering a company for the scheme.

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Eligibility Criteria For The Startup India Scheme

  • A private limited company or a limited liability partnership.
  • Approval from the Department of Industrial Policy and Promotion (DIPP) is necessary.
  • A recommendation letter by an incubation must be present.
  • Innovative schemes or products.
  • The startup must not be older than 5 years.
  • The total turnover limit for the startup to avail of the scheme is ₹25 crores.
  • Angel fund, Incubation fund, Accelerators, Private Equity Fund, Angel network must be registered with SEBI (Securities and Exchange Board of India).
  • A patron guarantee must be obtained from the Indian Patent and Trademark Office.

If eligible for the scheme, go ahead and register under it. This scheme has become a major milestone in India’s entrepreneurial journey and will go a long way in improving its prospects.

Also read: Steps To Dissolve a Foreign Company In India

Registration Process

Before moving on with the scheme, it must be ensured that the company gets registered as one of these entities-

  • Partnership Firm
  • Limited Liability Partnership Firm
  • Private Limited Company

The step-by-step process of applying for registering a company for the Startup India Scheme below-

  1. Register and log in at the Shram Suvidha Portal.
  2. If the establishment is a startup, a link has to be clicked after successfully logging in.
  3. Once clicked, the startup India application portal will be opened.
  4. Fill in the legal entity type in the required column.
  5. Put in the registration number and date of incorporation (of the entity).
  6. Enter details such as PAN number, address, pin code, and state.
  7. Then, details of the authorized representative, directors, and partners must be filled in next.
  8. Thereafter, all necessary documents and self-certification have to be uploaded.
  9. Upload the company’s incorporation/registration certificate next.

Once completed, successfully apply for the registration of the company under the scheme. A recognition number will be immediately issued after the registration. Finally, the registration certificate will be issued after the examination of the details and documents provided.

Important Documents

  • Letter of recommendation (LoR) either by DIPP, incubation fund/angel fund/equity fund, or accelerator/angel network (registered with SEBI).
  • Incorporation/registration certificate.
  • Business description (in brief).

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