Startup India | Frequently Asked Questions
7. Who can register under Startup India?
Any entity that has new ideas regarding starting up a service or a production unit can register under start up India. His company or a producing unit must not be more that 5years from the date of registration. His turnover should not exceed more than Rupees 25crore.His service or production unit must work towards innovation and commercialization of services and new products.
6. What/who is an entity?
An entity is a private company that has been recognized under the Company Act, 2013. The company or the producing firm must be registered under the Indian Partnership Act, 1932 or the Limited Liability Partnership Act, 2008.
4. How can an entity get recognition under Startup India?
- An entity can register under Startup India and can be considered eligible if:
- It has a recommendation from DIPP related to innovation and nature of business
- It must be associated with an incubator which is funded by GoI
5. Can an existing entity register under start up India?
Yes, an existing entity that fulfils the rules and regulations mentioned in the action plan can register under start up India. For further information regarding the eligibility criteria, the entity can visit the online website or the startup mobile app.
6. What are documents that an entity must submit to register in Startup India?
- An entity must have the documents and fulfill the formalities mentioned below:
- An entity must have a recommendation in a format specified by Department of Industrial Policy and Promotion (DIPP)from an Incubator that has been established in a post-graduate college in India
- An entity must have a letter of support by any Incubator that is funded from Government of India or any State Government.
- He must have filed a patent and publish in Journal by India Patent Office regarding the nature of his business
7. How to get the application form?
In order to register with Startup India, an entity can visit the online website or the mobile app that will direct the user to the online application form.
8. Is PAN card necessary for the registration procedure?
No, a PAN card is not compulsory while registration. But an entity or the concerned individual must produce his PAN card for further formalities that are specified under the scheme of Startup India.
8. What is an incubator? Which incubator can provide with a recommendation or a support to an entity?
- An incubator aims at initiating the Startup India ecosystem by providing funds to the entity .The Action Plan of Startup India recognizes it as a vital component for growth and development of Startup India. It includes participation of academia, investors, existing entities, business tycoons, industries etc.
- An incubator must have the following criteria to meet the eligibility to produce a recommendation or a support:
- An incubator that is established in a a post-graduate college in India are eligible to give recommendation to an entity
- An incubator that are funded by Government of India or any State Government as part of any specified scheme to promote innovation are recognized under Startup Schemes to provide support or recommendation letter to an entity.
- An entity must be recognized under GOI and DIPP on application.
9. What are the eligibility criteria that an incubator will go through before issuing a recommendation letter?
- Before issuing a recommendation letter, the incubator must go through the following eligibility criteria of an entity.
- The entity must aim at innovation, development and commercialization of new products and services
- The existing entity must focus on the improvement of their products and services and generate or increases the value for customers or workflow.
- If the products or services of an entity lacks the potential for commercialization, he/she will not get a letter of recommendation
- The products or services must have limited incremental value for customers in order to get a recommendation letter.
10. Who will do the work of uploading the recommendation letter online or on the mobile app?
An entity willing to register with startup India and has already taken a recommendation from the concerned authorities have to upload the necessary documents needed for registration and recognition under Startup India.