ISO Certified Premium Startup Consultancy Company
ISO Certified Premium Startup Consultancy Company
In recent years, the Indian startup ecosystem has been flourishing, with several entrepreneurs emerging and creating innovative solutions. To promote this growth, the Indian government has taken several measures, including the launch of the DPIIT recognition program. In this blog post, we will discuss DPIIT recognition, its eligibility criteria, and the benefits it offers to startups. We will also explore how Neusource Startup Minds India Ltd. can help startups in the DPIIT recognition process.
The Department for Promotion of Industry and Internal Trade (DPIIT) is a government department in India that promotes and regulates the country's industrial and internal trade sectors. The DPIIT recognition program is aimed at promoting startups in India by providing them with various benefits and exemptions.
To be eligible for DPIIT recognition, a startup must meet the following criteria:
It must be a private limited company, a partnership firm, or a limited liability partnership (LLP).
It must have been incorporated or registered in India for less than 10 years from the date of incorporation/registration.
Its turnover must not exceed INR 100 crores in any of the previous financial years.
It must be working towards innovation, development, deployment or commercialization of new products, processes, or services driven by technology or intellectual property.
Once a startup is recognized by DPIIT, it becomes eligible for various benefits, including:
Tax Exemptions: DPIIT Recognized startups are exempted from paying income tax for three consecutive years out of their first ten years of operation. This exemption is subject to meeting certain conditions and criteria.
Faster Patent Approvals: DPIIT Recognized startups are given fast-track examination of patent applications filed by them, which helps in getting patents quickly.
Access to Government Schemes and Funding: DPIIT Recognized startups are given priority access to various government schemes and funding programs.
Branding and Promotion: DPIIT Recognition provides startups with a platform for branding and promotion through various government initiatives and programs.
Networking Opportunities: DPIIT Recognized startups can participate in various networking events and interact with other startups, investors, and industry experts.
Neusource Startup Minds India Ltd. is a leading business consultancy firm in India that provides a wide range of services to startups and entrepreneurs. The firm has a team of experienced professionals who can help startups with the DPIIT recognition process. One of the services they provide is assistance with DPIIT recognition.
DPIIT recognition is a program run by the Department for Promotion of Industry and Internal Trade (DPIIT) in India that offers various benefits and incentives to recognized startups. These benefits include tax exemptions, faster clearance for patents, and easier access to funding.
Neusource Startup Minds India Ltd. can help with DPIIT recognition in several ways. They can provide guidance on the eligibility criteria for recognition, help with the application process, and assist with the documentation required for the application. Additionally, they can also provide advice on how to structure the business and operations to maximize the benefits of DPIIT recognition.
Overall, if you are looking to get DPIIT recognition for your startup in India, Neusource Startup Minds India Ltd. can be a valuable partner in the process. They have the experience and expertise needed to navigate the DPIIT recognition process and help your business unlock the many benefits of recognition.
03 May
To start a new business is easy, but to make it successful is difficult . So For success, choose the best." Be compliant and proactive from the beginning and choose NEUSOURCE as your guidance partner.
