Startup india action plan – who are eligible

  • Published on
    09-Feb-2017

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  • Bywww.startupgyan.net

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

  • Modis Government has launched startupindia Plan But there are several questions like below?

    What is considered as a startup?But who are eligible for it?What are the benefits of this startupindia plan?

  • What is considered as a startup?Condition 1:For a company to be recognized as a startupIt must be an entity registered/incorporated as aA) Private Limited CompanyB) Registered Partnership CompanyC) LLP (Limited Liability Partnership) company

  • What is considered as a startup?Condition 2:For a company to be recognized as a startupThe age of company should be less than 5 years (from establishment date)

  • What is considered as a startup?Condition 3:For a company to be recognized as a startupAnnual turnover in the last financial year should not be more than 25 crores as per companies Act 2013.

  • What is considered as a startup?Condition 4:For a company to be recognized as a startupIt 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 startupIt should aim to commercializeA) a new innovative product using research and development operationsB) 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, andbe 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;

  • Or2) be supported by an incubator which is funded (in relation to the project) from GoI as part of any specified scheme to promote innovation

    Orbe supported by a recommendation (with regard to innovative nature of business), in a format specified by DIPP, from an incubator recognized by GoI

  • Orbe funded by an Incubation Fund/Angel Fund/Private Equity Fund/Accelerator/Angel Network duly registered with SEBI* that endorses innovative nature of the business

    Orbe funded by the Government of India as part of any specified scheme to promote innovation

  • Orhave 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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