Startup India Scheme: What Qualifies a Startup Under This Scheme? Here’s How Can One Register a Profile Online on startupindia.gov.in
The Startup India initiative launched by the government on January 16, 2016, aims at fostering entrepreneurship and promoting innovation by creating an ecosystem that is conducive to the growth of startups. In India, as many as 44,534 startups have been recognised by the department for the promotion of industry and internal trade (DPIIT).
What qualifies as a 'Startup' under Startup India Scheme
1. If it is incorporated as a private limited company or registered as a partnership firm or a limited liability partnership in India
2. Up to 10 years from the date of its incorporation or registration
3. If its turnover for any of the financial years since incorporation/registration has not exceeded Rs 100 Crores
4. If it is working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation
It must be noted that an entity formed by splitting up or reconstruction of a business already in existence shall not be considered a ‘Startup’.
How Can I register a profile online on the Startup India website:
- Visit the Startup India website startupindia.gov.inand click on 'Register' at the right side of the website where the profile photo box appears on the screen.
- Fill in the details as required in the registration form.
- An OTP will be sent to your registered email address, post submitting which your profile will get created.