STARTUP INDIA RECOGNITION

STARTUP INDIA RECOGNITION

STARTUP INDIA RECOGNITION:

Startups and SMEs are the bedrock on which the government's Atma Nirbhar mission and Make in India ambition will flourish - creating more jobs, expanding exports, raising the standard of life for millions of Indians, and strengthening India's worldwide position. While enterprises who are recognized by Startup India earn a host of benefits, many of them do not receive the certificate due to non-compliance with qualification standards or other factors.

NeuSource is here to recognize your startup business with the DPIIT department’s Startup India scheme for having a great business idea and for running fruitful business operations. Why would you want your startup to be registered with DPIIT of course for the benefits that is derived from it.

Benefits that can be derived from recognition with DPIIT:

a) Relaxed Public Procurement Norms through getting registered on GeM

b) 50% rebate provided for trademark filing compared to other companies.

c) 80% rebate in patent application fees.

d) Tax holiday for consecutive three years

e) Preference in government tenders

f) Eligible for participation in Awards

g) Can participate in various funding schemes like seed funding

h) Stand up India scheme by SIDBI to facilitate bank loans between INR 1 million to 10 million.

i) Tax exemption under section 56 of ITA.

Eligibility Criteria:

Period of Entity Existence: The Company’s existence and operations should not exceed ten years from the date of creation.

Entity Classification: A Private Limited Company, a Limited Liability Partnership (LLP), or a Registered Partnership Firm can receive a DPIIT Certificate of Recognition.

Yearly Turnover: The firm must have an annual turnover of Rs. 100 crore for any of the fiscal years since its formation to receive the DPIIT Certificate of Recognition.

Entity of Origin: The Company must not have been formed by splitting up or reconstructing an existing entity to be eligible for the DPIIT Certificate of Recognition.

Few points to be noted for proceeding with DPIIT:

1. Startup must be registered with Ministry of corporate affairs or registrar of firm of your state.

2. An initial pitch presentation is typically required along with your registration to give a deeper understanding of what your business model.

3. Website link and Presentation is required as proof of concept if your startup is in the Early traction stage.

4. Startup should be working towards, innovation, development of products or services with high potential of wealth creation.

Top 5 government programmers for startups and small businesses that can help them grow and expand:

1. Pradhan Mantri Mudra Yojana : For low-interest loans to startups.

2. Credit Guarantee Trust Fund for Micro & Small Enterprises (CGTSME): For collateral-free loan of up to Rs 1 crore is provided to eligible startups.

3. Credit Linked Capital Subsidy for Technology Upgradation (CLCSS): For 15% subsidy for investment up to Rs 1 crore for upgrading technology for startups.

4. Venture Capital Assistance Scheme: Loan and training will be provided to farmers and to meet capital requirements 26% of promoters equity upto maximum 50 lakh loan will be granted

18 Jun

Shivani Gupta

“Starting Any Business Is A Formidable Journey Of A Lifetime!” NEUSOURCE ‘The Leader of Business registration’ clears the way for success in the present era by helping new startups. LET's GET STARTED!!