The government has rolled out a Startup India scheme for the growth of businesses by promoting innovations. The DIPP registration comes with many benefits that startups can leverage by registering a business entity under the StartUp India scheme. This scheme is envisioned at transforming India into a job-provider rather than a job seeker. Only an entity which is registered as a Private Limited Company or a Limited Liability Partnership (LLP) or a Registered Partnership Firm can get recognition under Startup India Scheme. Further, such startup must be involved in the activities towards innovation or improvement in existing products or services, and must be capable of generating employment or wealth creation. Only an eligible entity as per the criteria provided by the government can take registration under the said scheme by applying online via Mobile Application or through portal set up by DIPP.
Benefits of Startup India Registration:
- Tax Exemption
- Angel Tax Exemption
- Self Certification
- Government Tenders
- Faster Exit
- Fund of Funds for Startups
- Interaction platform for Startups
- Rebate in Trademark and Patent Application fees