DIPP was established in the year 1995. The role of DIPP is to accelerate industrial Development of the Country by facilitating investment in new and upcoming technology, foreign direct investment and support balanced development of industries.
In order to imbibe all the objectives under one umbrella policy framework for the entire nation, while addressing all the aspects of the start-up ecosystem, a Start-up India Action Plan1 was announced on 16 January 2016. 19 action items spanning across three key areas of ‘simplification and handholding’, ‘funding support and incentives’, and ‘industry-academia partnerships and incubation’ constituted it.
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On 15 august 2015, a new vision for the Indian economy was announced which aimed at tapping the entrepreneurial potential of the people of India. A vision that enabled the talent of India to dream of ideas, put them in action, and convert them into game changing ventures. On January 16, 2016, the government launched the ‘start-up India’ program. The DPIIT has relaxed the definition of a start-up to allow more entities to apply for recognition. With the relaxations, there has been a jump in the application of entities to be recognised as start-ups.
The start-up India program was launched with a stated objective to build a strong ecosystem for nurturing innovation and start-ups in the country that would drive sustainable economic growth and generate large scale employment opportunities.
Registering with the DPIIT Registration Service in Delhi NCR can provide startups with recognition, as well as entitle them to receive a wide range of benefits, including grants, seed funding, market access, tax benefits, simplified compliances, and eased Intellectual Property Rights (IPR) processes, among many others.
Here we’ve listed some other benefits below:
Income tax exemption- it will exempted for 3 consecutive years and it also includes exemption on capital gains and investments above fair market value.
Self-certification- avail assistance of a self-certification compliance system with respect to labour and environmental laws
Patent application and IPR protection- the process will be faster and up to 80 percent rebate in filing patents can be received.
Easier public procurement norms- get listed as seller to the government and benefits from exemption on EMD can be received.
Easy winding up of company- company can be winded up within 90 days under bankruptcy and insolvency code,2016.
Account creation- Firstly, the entity has to create an account on start-up India website.
Application for recognition-Then, the application for DPIIT recognition has to be filled by the entity.
Issue of certificate of recognition-After the application is reviewed, the certificate of recognition is issued within 48 to 72 working hours.
On-time service delivery: We know the importance of time, hence our expert team is committed to serve to the best before and on-time.
100% Transparency: As a leading company of DPIIT Registration Noida, we’ll share all process details with you during the registration time to maintain the transparency between you and us.
Top-Notch Customer Care Service: Our dedicated and certified team members are 24 hrs there to help you with any difficulty you experience during registration. Don’t hesitate to contact our customer representative for support.
The Start-up should be incorporated as a private limited company or registered as a partnership firm or a limited liability partnership. Turnover should be less than INR 100 Crores in any of the previous financial years.
The Fund of Funds (FFS) for start-ups has been established to provide funding support for development and growth of innovation driven enterprises. It does not invest directly in start-ups but rather participates in the capital of Securities and Exchange Board of India (SEBI)-registered Category-1 and Category-2 Alternate Investment Funds (AIFs)
Around 56000 start-ups have been recognised till now. The number keeps on increasing every day.