Startup india action plan – who are eligible

Startup India Action Plan – Who are Eligible for it?How you can get 3 Years Tax holiday?By

www.startupgyan.net

Modi’s Government has launched startupindia Plan – But there are several questions like below?

1. What is considered as a startup?2. But who are eligible for it?3. What are the benefits of this

startupindia plan?

What is considered as a startup?Condition 1:For a company to be recognized as a

startup It must be an entity

registered/incorporated as a A) Private Limited Company B) Registered Partnership Company C) LLP (Limited Liability Partnership)

company


startup The age of company should be less than

5 years (from establishment date)


startup Annual turnover in the last financial year

should not be more than 25 crores as per companies Act 2013.


startup It must be working towards

innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property.

What is considered as a startup?Condition5 :For a company to be recognized as a

startup It should aim to commercialize A) a new innovative product using

research and development operations B) an existing product after improving it

in a great manner.

The Startup has obtained certification from the Inter-Ministerial Board, setup by DIPP to validate the innovative nature of the business, and1. be supported by a recommendation

(with regard to innovative nature of business), in a format specified by DIPP, from an incubator established in a post-graduate college in India;

Or 2) be supported by an incubator which is

funded (in relation to the project) from GoI as part of any specified scheme to promote innovation

Or be supported by a recommendation (with

regard to innovative nature of business), in a format specified by DIPP, from an incubator recognized by GoI

Or be funded by an Incubation Fund/Angel

Fund/Private Equity Fund/Accelerator/Angel Network duly registered with SEBI* that endorses innovative nature of the business

Or be funded by the Government of India as

part of any specified scheme to promote innovation

Or have a patent granted by the Indian

Patent and Trademark Office in areas affiliated with the nature of business being promoted

Following flowchart (taken from yourstory.com) gives a clear idea of who are eligible for this startup India action plan

In the Next Video,You will learn...

Who are not considered as a startup?

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Startup india action plan – who are eligible