Startup india action plan – who are eligible
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Transcript of 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
What is considered as a startup?Condition 2:For a company to be recognized as a
startup The 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
startup Annual 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
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?