Importance of Start-up India Registration


Importance of Start-up India Registration

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The entrepreneurship ecosystem in India has become more vibrant with the government taking steps to support start-ups. The Start-up India initiative aims to foster innovation and promote the growth of entrepreneurs in the country. With its efforts to address funding gaps, simplify regulations, offer incubation and mentorship support, and emphasise skill development, the initiative has helped position India as a global hub for start-ups. The government has also introduced new tax benefits, reducing the financial burden on start-ups.

In order to be eligible for the Startup India Registration, an enterprise should be engaged in activities that have been linked with innovation, development, deployment or commercialisation of new products and even services driven by technology or intellectual property.  However, to take advantage of these tax benefits and benefits, a company must meet certain criteria. Moreover, the company should have innovative products or schemes and should be working towards their commercialisation. Additionally, the company should not be created by splitting up or reconstructing an existing entity.

With Start-up India Registration, a company can avail many benefits, such as tax exemption for three years. Besides, the scheme offers relaxations in labour laws and intellectual property rights protection. In addition, it facilitates the process of obtaining licences and permits.

Further, Start-ups can avail 80% rebate while filing patent applications. The government bears the facilitator fees and start-ups pay only the statutory fee. The scheme also allows start-ups to connect with bigger organisations and investors, which help them, gain valuable insights and mentorship opportunities. To apply for Startup India, one must register as a private limited company or a partnership firm with the Ministry of Corporate Affairs (MCA). Additionally, the scheme makes start-ups eligible to apply for government tenders, which can be beneficial in their future growth.


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