The Startup India Scheme offers various incentives to new enterprises in Uttarakhand, including tax breaks, funding opportunities, and simpler compliance. Startups interested in registering can apply for the Startup India Certificate Online, which officially acknowledges them under the initiative. By receiving the accreditation, Uttarakhand entrepreneurs can benefit from government aid, networking possibilities, and intellectual property protection.
Startups
Registering a Startup
The registration for a startup in Uttarakhand may be done online by easily filling a standard form online and uploading the relevant Company Incorporation or Registration Certificate.
Benefits to recognised Startups
The following are the benefits that recognised startups could avail:
Monthly Allowance
A monthly allowance of INR 20,000 for one year would be provided to the startups selected by the Startup Council. However, any of the following conditions must be fulfilled by the startup.
- The startup has received total equity financing by a SEBI registered AIF Category 1 & 2 funds or Ange Networks in the range of INR 5 Lakhs to INR 100 Lakhs;
- A Sanction Letter of grant or funding to the entity by the Government of India or from any other State Government;
- The startup has obtained a revenue run rate of any digit between INR 50,000 to INR 10 Lakhs per month over the last 3 months.
As per the policy, if the startup operates a business in any of the focus sectors or ST/ SC/ Women/ Physically challenged startup entrepreneurs or belongs to the Category-A district of Uttarakhand, the monthly allowance would be increased to INR 30,000.
What Is Startup India Registration?
Startup India Registration is the procedure by which new firms register under the Startup India Scheme, which was introduced by the Indian government to encourage entrepreneurship and innovation. Startups who register receive a variety of perks, including tax breaks, investment opportunities, and easy legal compliance. The registration also enables enterprises to gain recognition through the DPIIT Certificate, which offers additional benefits like as intellectual property protection and easier access to government contracts. This effort intends to develop and build companies in India, assisting them to scale and prosper in a competitive market.
Eligibility Criteria For Startup India Registration
- Age of the Company: The startup must be less than ten years old from its incorporation date.
- Annual Turnover: The company’s revenue should not exceed ₹100 crore each year.
- Business Type: The entity must be a Private Limited Company, a Limited Liability Partnership (LLP), or a partnership firm.
- Innovation Focus: The startup’s focus should be on innovation, product creation, or process improvement.
- DPIIT Recognition: To benefit from the initiative, your company must apply for the Startup India Certificate from the Department for Promotion of Industry and Internal Trade (DPIIT).
FAQs
What are the benefits of registering under Startup India Scheme?
Benefits include tax exemptions, funding opportunities, intellectual property support, and easier compliance. It helps startups access resources and grow efficiently
Product Development and Marketing Assistance?
Product Development and Marketing Assistance one-time fund with a limit of INR 5 Lakhs may be offered to a recognised startup entity for the introduction of the innovated product in the market if either of the following conditions is fulfilled.
- The startup has received total equity financing by a SEBI registered AIF Category 1 & 2 funds or Angel Networks for a minimum of INR 10 Lakhs;
- A Sanction Letter of grant or funding to the entity by the Government of India or from any other State Government for a minimum of INR 2 Lakhs;
- The startup has obtained a minimum revenue run rate of any digit of INR 2.5 Lakhs over the last 3 months.
As per the policy, if the startup operates a business in any of the focus sectors or ST/ SC/ Women/ Physically challenged startup entrepreneurs or belongs to the Category-A district of Uttarakhand, the product development and marketing assistance allowance would be increased to INR 7.5 Lakhs.