Government - announced initiative for creating a conducive environment for ‘Startup India’
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....reating a conducive environment for startups in India. The various Ministries of the Government of India have initiated a number of activities for the purpose. To bring uniformity in the identified enterprises, an entity shall be considered as a 'startup'- a) Up to five years from the date of its incorporation/registration, b) If its turnover for any of the financial years has not exceeded ͅ....
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....artup on completion of five years from the date of its incorporation/registration or if its turnover for any previous year exceeds ₹ 25 crore. 2. Entity means a private limited company (as defined in the Companies Act, 2013), or a registered partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership....
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....definition. 5. The process of recognition as a 'startup' shall be through mobile app/portal of the Department of Industrial Policy and Promotion. Startups will be required to submit a simple application with any of following documents: a) a recommendation (with regard to innovative nature of business), in a format specified by Department of Industrial Policy and Promotion, from any Incubator est....
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....s it may deem fit; or e) a letter of funding by Government of India or any State Government as part of any specified scheme to promote innovation; or f) a patent filed and published in the Journal by the Indian Patent Office in areas affiliated with the nature of business being promoted. Department of Industrial Policy and Promotion may, until such mobile app/portal is launched make alternative....