Shyam Nagarajan / Reading Time: 8 mins
DPIIT also makes the list of recognized startups available publicly. (You can download and search for SMBSure Business Solutions. That's us GoFloaters 🙂 )
If you are thinking of starting up or already have a startup running, why should you care about the Startup India scheme? Are you eligible to register? Is it worth registering or not? What benefits can you gain from this scheme? These are some of the aspects that we will touch upon.
The Startup India Scheme was launched with the following three primary objectives :
DPIIT (Department for Promotion of Industry and Internal Trade) was given the responsibility to implement the scheme and coordinate with other govertment departments.
Multiple other departments like the Department of Science and Technology (DST), Department of Bio-technology (DBT), Ministry of Human Resource Development (MHRD), Ministry of Labour and Employment, Ministry of Corporate Affairs (MCA) and NITI Aayog also agreed to chip in and make Startup India Scheme useful for startups.
DPIIT has come out with specific criteria to define what kind of companies are eligible to register under the Startup India Scheme. Following are the criteria :
Startup India Website is the only place that you need to head to know about how to register, what benefits do you get from the scheme and much more.
You can register for the Startup India recognition through a fairly straightforward online process. Here are the things that you need keep ready before you head to the portal to fill the registration form.
As mentioned earlier your company should already be incorporated. If you have not incorporated, then you need to do that first. You may require an virtual office to get the necessary documents to register your company.
Recommendation letter : When the scheme was initially launched this was not a requirement. Subsequently this has been added as a mandatory requirement. The scheme also outlays what kind of recommendation letters are accepted.
Once you have filled the content and uploaded all the documents your job is done. Your information is reviewed by the team and you would get an acceptance communication through email. The time it takes to get the registration number is unpredicable. Some have reported to get the registration accepted in 24 hours and for some others it has taken a week.
What you get after your registration is accepted is a DPIIT number (which was previously called DIPP number). Once you get this in the email then you can claim that your startup is Startup India recognized startup 💥
You also get a "Certificate of Recognition" in the email. This PDF document confirms that your startups has been accepted as an eligible startup for the benefits. Keep this document safe as many entities need this document for you to claim the benefits.
If you have misplaced it, sweat not! You can always download this certificate from the Startup India website.
The Startup India lists all the benefits that you can gain from being a Startup India recognised startup. Here is a screen grab from the website that gives you a snapshot of the benefits.
Here are the top 5 benefits that you get from the government:
The benefits dont stop with just government schemes. Here are a few more :
The Statup India website also has become a hub of startup networking and activities.
Startup India also keeps launching contests and events that you can leverage to gain visibility and access to funding and mentorship. As of this writing the National Startup Awards 2021 is open for applications.
We can certainly look forward to more new invitiatives and amendments to existing ones that will be in favor of startups.
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