http://www.arthapedia.in/index.php?title=Start-up_firm&feed=atom&action=historyStart-up firm - Revision history2024-03-29T10:46:33ZRevision history for this page on the arthapediaMediaWiki 1.17.0http://www.arthapedia.in/index.php?title=Start-up_firm&diff=3235&oldid=prevRosemary.a at 17:11, 31 March 20162016-03-31T17:11:13Z<p></p>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>     A  Startup firm can take the form of a Private Limited Company (under The  Companies Act, 2013) or a Registered Partnership Firm (under The Indian  Partnership Act, 1932) or Limited Liability Partnership (under The Limited  Liability Partnership Act, 2008). </p></div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>     A  Startup firm can take the form of a Private Limited Company (under The  Companies Act, 2013) or a Registered Partnership Firm (under The Indian  Partnership Act, 1932) or Limited Liability Partnership (under The Limited  Liability Partnership Act, 2008). </p></div></td></tr>
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<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div><p>Entities that fulfill the criteria as per the definition of “Startup” and are incorporated/ registered in India, can obtain recognition as a “Startup” to avail various benefits listed in the Startup India Action Plan. The process of recognition is simple and user friendly and involves a single page application form that a user can fill either through a web interface or through mobile app. Formats of the recommendation/ support letters that need to be attached as part of the application form have been published on the portal and mobile app. A real time verifiable and downloadable recognition certificate is provided to Startups on completion of the application process.</p></div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div><p>Entities that fulfill the criteria as per the definition of “Startup” and are incorporated/ registered in India, can obtain recognition as a “Startup” to avail various benefits listed in the Startup India Action Plan. The process of recognition is simple and user friendly and involves a single page application form that a user can fill either through a web interface or through mobile app. Formats of the recommendation/ support letters that need to be attached as part of the application form have been published on the portal and mobile app. A real time<ins class="diffchange diffchange-inline">, </ins>verifiable and downloadable recognition certificate is provided to Startups on completion of the application process.</p></div></td></tr>
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</table>Rosemary.ahttp://www.arthapedia.in/index.php?title=Start-up_firm&diff=3234&oldid=prevRosemary.a at 16:56, 31 March 20162016-03-31T16:56:36Z<p></p>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>     A  Startup firm can take the form of a Private Limited Company (under The  Companies Act, 2013) or a Registered Partnership Firm (under The Indian  Partnership Act, 1932) or Limited Liability Partnership (under The Limited  Liability Partnership Act, 2008). </p></div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>     A  Startup firm can take the form of a Private Limited Company (under The  Companies Act, 2013) or a Registered Partnership Firm (under The Indian  Partnership Act, 1932) or Limited Liability Partnership (under The Limited  Liability Partnership Act, 2008). </p></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div><ins style="color: red; font-weight: bold; text-decoration: none;"></ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div><ins style="color: red; font-weight: bold; text-decoration: none;"><p>Entities that fulfill the criteria as per the definition of “Startup” and are incorporated/ registered in India, can obtain recognition as a “Startup” to avail various benefits listed in the Startup India Action Plan. The process of recognition is simple and user friendly and involves a single page application form that a user can fill either through a web interface or through mobile app. Formats of the recommendation/ support letters that need to be attached as part of the application form have been published on the portal and mobile app. A real time verifiable and downloadable recognition certificate is provided to Startups on completion of the application process.</p></ins></div></td></tr>
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</table>Rosemary.ahttp://www.arthapedia.in/index.php?title=Start-up_firm&diff=3233&oldid=prevRosemary.a at 16:40, 31 March 20162016-03-31T16:40:40Z<p></p>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div><p>    The  entity shall cease to be a Startup if its turnover for the previous financial  years has exceeded INR 25 crore or it has completed 5 years from the date of  incorporation/ registration.  </p></div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div><p>    The  entity shall cease to be a Startup if its turnover for the previous financial  years has exceeded INR 25 crore or it has completed 5 years from the date of  incorporation/ registration.  </p></div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div><p>    Innovativeness  of the entity to be considered as a start up would have to be recommended by a Business  Incubator established in a post-graduate college in India or under any  Government scheme for Innovation or by an [http://arthapedia.in/index.php?title=Alternative_Investment_Funds_(AIFs) Incubation  Fund/Angel Fund/ Private Equity Fund/ Accelerator/Angel Network] which is duly registered with [http://www.sebi.gov.in/sebiweb/ Securities and Exchange  Board of India] [SEBI]. Alternatively, it  should have a patent granted by the [http://www.ipindia.nic.in/ Indian Patent and Trademark Office] in areas affiliated with the nature of business being promoted. An  Inter-Ministerial Board setup by [http://dipp.nic.in/English/default.aspx Department of Industrial  Policy and Promotion] (DIPP) would validate the  innovative nature of the business.  </p></div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div><p>    Innovativeness  of the entity to be considered as a start up would have to be recommended by a Business  Incubator established in a post-graduate college in India or under any  Government scheme for Innovation or by an [http://arthapedia.in/index.php?title=Alternative_Investment_Funds_(AIFs) Incubation  Fund/Angel Fund/ Private Equity Fund/ Accelerator/Angel Network] which is duly registered with [http://www.sebi.gov.in/sebiweb/ Securities and Exchange  Board of India] [SEBI]. Alternatively, it  should have a patent granted by the [http://www.ipindia.nic.in/ Indian Patent and Trademark Office] in areas affiliated with the nature of business being promoted. An  Inter-Ministerial Board setup by [http://dipp.nic.in/English/default.aspx Department of Industrial  Policy and Promotion] (DIPP) would validate the  innovative nature of the business.  </p></div></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div><p>    Startups  are eligible for a series of benefits under [http://dipp.nic.in/English/Investor/startupIndia/StartupIndia_ActionPlan_16January2016.pdf Startup  India Action Plan] which in a nutshell may be  seen [http://www.narendramodi.in/india-s-future-is-in-innovation-creativity-pm-modi-at-the-launch-of-start-up-india-initiative-399648 here].  A Startup would be eligible for tax benefits only after it has obtained  certification from the Inter-Ministerial Board, setup for such purpose. <del class="diffchange diffchange-inline"> </del></p></div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div><p>    Startups  are eligible for a series of benefits under [http://dipp.nic.in/English/Investor/startupIndia/StartupIndia_ActionPlan_16January2016.pdf Startup  India Action Plan] which in a nutshell may be  seen [http://www.narendramodi.in/india-s-future-is-in-innovation-creativity-pm-modi-at-the-launch-of-start-up-india-initiative-399648 here].  <ins class="diffchange diffchange-inline">More details may be seen from the Startup India portal http://startupindia.gov.in, and mobile app which were launched on 31 March 2016. </ins>A Startup would be eligible for tax benefits only after it has obtained  certification from the Inter-Ministerial Board, setup for such purpose. </p></div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>  <p></div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>  <p></div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>     A  Startup firm can take the form of a Private Limited Company (under The  Companies Act, 2013) or a Registered Partnership Firm (under The Indian  Partnership Act, 1932) or Limited Liability Partnership (under The Limited  Liability Partnership Act, 2008). </p></div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>     A  Startup firm can take the form of a Private Limited Company (under The  Companies Act, 2013) or a Registered Partnership Firm (under The Indian  Partnership Act, 1932) or Limited Liability Partnership (under The Limited  Liability Partnership Act, 2008). </p></div></td></tr>
</table>Rosemary.ahttp://www.arthapedia.in/index.php?title=Start-up_firm&diff=3157&oldid=prevRosemary.a at 17:40, 15 March 20162016-03-15T17:40:54Z<p></p>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>  <p><br></div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>  <p><br></div></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div>This  definition of startup is given in the [http://dipp.nic.in/English/Investor/startupIndia/StartupIndia_ActionPlan_16January2016.pdf Startup  India Action Plan] launched by the Indian Government  on 16 January 2016. However, to bring in uniformity, Government later notified a definition of start up on [http://egazette.nic.in/WriteReadData/2016/168185.pdf 17 February 2016.] on lines similar to as espoused in the Start-Up India Action Plan.</p></div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div>This  definition of startup is given in the [http://dipp.nic.in/English/Investor/startupIndia/StartupIndia_ActionPlan_16January2016.pdf Startup  India Action Plan] launched by the Indian Government  on 16 January 2016. However, to bring in uniformity, Government later notified a definition of start up on [http://egazette.nic.in/WriteReadData/2016/168185.pdf 17 February 2016.] on lines similar to as espoused in the Start-Up India Action Plan.<ins class="diffchange diffchange-inline">(The term “Start up” is neither defined in the Companies Act, 2013/1956 nor in the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.)</ins></p></div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div><p>    It  is stipulated that such an entity is not formed by splitting up, or  reconstruction, of a business already in existence. </p>  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div><p>    It  is stipulated that such an entity is not formed by splitting up, or  reconstruction, of a business already in existence. </p>  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div><p>    The  entity shall cease to be a Startup if its turnover for the previous financial  years has exceeded INR 25 crore or it has completed 5 years from the date of  incorporation/ registration.  </p></div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div><p>    The  entity shall cease to be a Startup if its turnover for the previous financial  years has exceeded INR 25 crore or it has completed 5 years from the date of  incorporation/ registration.  </p></div></td></tr>
</table>Rosemary.ahttp://www.arthapedia.in/index.php?title=Start-up_firm&diff=3081&oldid=prevRosemary.a at 11:53, 22 February 20162016-02-22T11:53:49Z<p></p>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>  <p><br></div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>  <p><br></div></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div>This  definition of startup is given in the [http://dipp.nic.in/English/Investor/startupIndia/StartupIndia_ActionPlan_16January2016.pdf Startup  India Action Plan] launched by the Indian Government  on 16 January 2016. <del class="diffchange diffchange-inline"> </del></p></div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div>This  definition of startup is given in the [http://dipp.nic.in/English/Investor/startupIndia/StartupIndia_ActionPlan_16January2016.pdf Startup  India Action Plan] launched by the Indian Government  on 16 January 2016. <ins class="diffchange diffchange-inline">However, to bring in uniformity, Government later notified a definition of start up on [http://egazette.nic.in/WriteReadData/2016/168185.pdf 17 February 2016.] on lines similar to as espoused in the Start-Up India Action Plan.</ins></p></div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div><p>    It  is stipulated that such an entity is not formed by splitting up, or  reconstruction, of a business already in existence. </p>  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div><p>    It  is stipulated that such an entity is not formed by splitting up, or  reconstruction, of a business already in existence. </p>  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div><p>    The  entity shall cease to be a Startup if its turnover for the previous financial  years has exceeded INR 25 crore or it has completed 5 years from the date of  incorporation/ registration.  </p></div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div><p>    The  entity shall cease to be a Startup if its turnover for the previous financial  years has exceeded INR 25 crore or it has completed 5 years from the date of  incorporation/ registration.  </p></div></td></tr>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>==Reference==</div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>==Reference==</div></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div>*[http://dipp.nic.in/English/Investor/startupIndia/StartupIndia_ActionPlan_16January2016.pdf Startup  India Action Plan]  </div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div>*[http://dipp.nic.in/English/Investor/startupIndia/StartupIndia_ActionPlan_16January2016.pdf Startup  India Action Plan<ins class="diffchange diffchange-inline">]</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div><ins class="diffchange diffchange-inline">*[http://egazette.nic.in/WriteReadData/2016/168185.pdf Government Notification dated 17 February 2016, defining a startup firm</ins>]</div></td></tr>
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</table>Rosemary.ahttp://www.arthapedia.in/index.php?title=Start-up_firm&diff=2856&oldid=prevArthapedia at 06:15, 18 January 20162016-01-18T06:15:31Z<p></p>
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<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div>  <p></div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div>  <p<ins class="diffchange diffchange-inline">><br</ins>></div></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div>This  definition of startup is given in the [http://dipp.nic.in/English/Investor/startupIndia/StartupIndia_ActionPlan_16January2016.pdf Startup  India Action Plan] launched by the Indian Government  on 16 January 2016.   </div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div>This  definition of startup is given in the [http://dipp.nic.in/English/Investor/startupIndia/StartupIndia_ActionPlan_16January2016.pdf Startup  India Action Plan] launched by the Indian Government  on 16 January 2016.  <ins class="diffchange diffchange-inline"></p></ins></div></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div><p>    It  is stipulated that such an entity is not formed by splitting up, or  reconstruction, of a business already in existence. <del class="diffchange diffchange-inline"> </del></div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div><p>    It  is stipulated that such an entity is not formed by splitting up, or  reconstruction, of a business already in existence. <ins class="diffchange diffchange-inline"></p> </ins></div></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div><p>    The  entity shall cease to be a Startup if its turnover for the previous financial  years has exceeded INR 25 crore or it has completed 5 years from the date of  incorporation/ registration.   </div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div><p>    The  entity shall cease to be a Startup if its turnover for the previous financial  years has exceeded INR 25 crore or it has completed 5 years from the date of  incorporation/ registration.  <ins class="diffchange diffchange-inline"></p></ins></div></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div><p>    Innovativeness  of the entity to be considered as a start up would have to be recommended by a Business  Incubator established in a post-graduate college in India or under any  Government scheme for Innovation or by an [http://arthapedia.in/index.php?title=Alternative_Investment_Funds_(AIFs) Incubation  Fund/Angel Fund/ Private Equity Fund/ Accelerator/Angel Network] which is duly registered with [http://www.sebi.gov.in/sebiweb/ Securities and Exchange  Board of India] [SEBI]. Alternatively, it  should have a patent granted by the [http://www.ipindia.nic.in/ Indian Patent and Trademark Office] in areas affiliated with the nature of business being promoted. An  Inter-Ministerial Board setup by [http://dipp.nic.in/English/default.aspx Department of Industrial  Policy and Promotion] (DIPP) would validate the  innovative nature of the business.   </div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div><p>    Innovativeness  of the entity to be considered as a start up would have to be recommended by a Business  Incubator established in a post-graduate college in India or under any  Government scheme for Innovation or by an [http://arthapedia.in/index.php?title=Alternative_Investment_Funds_(AIFs) Incubation  Fund/Angel Fund/ Private Equity Fund/ Accelerator/Angel Network] which is duly registered with [http://www.sebi.gov.in/sebiweb/ Securities and Exchange  Board of India] [SEBI]. Alternatively, it  should have a patent granted by the [http://www.ipindia.nic.in/ Indian Patent and Trademark Office] in areas affiliated with the nature of business being promoted. An  Inter-Ministerial Board setup by [http://dipp.nic.in/English/default.aspx Department of Industrial  Policy and Promotion] (DIPP) would validate the  innovative nature of the business.  <ins class="diffchange diffchange-inline"></p></ins></div></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div><p>    Startups  are eligible for a series of benefits under [http://dipp.nic.in/English/Investor/startupIndia/StartupIndia_ActionPlan_16January2016.pdf Startup  India Action Plan] which in a nutshell may be  seen [http://www.narendramodi.in/india-s-future-is-in-innovation-creativity-pm-modi-at-the-launch-of-start-up-india-initiative-399648 here].  A Startup would be eligible for tax benefits only after it has obtained  certification from the Inter-Ministerial Board, setup for such purpose.  </div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div><p>    Startups  are eligible for a series of benefits under [http://dipp.nic.in/English/Investor/startupIndia/StartupIndia_ActionPlan_16January2016.pdf Startup  India Action Plan] which in a nutshell may be  seen [http://www.narendramodi.in/india-s-future-is-in-innovation-creativity-pm-modi-at-the-launch-of-start-up-india-initiative-399648 here].  A Startup would be eligible for tax benefits only after it has obtained  certification from the Inter-Ministerial Board, setup for such purpose. <ins class="diffchange diffchange-inline"> </p></ins></div></td></tr>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>     A  Startup firm can take the form of a Private Limited Company (under The  Companies Act, 2013) or a Registered Partnership Firm (under The Indian  Partnership Act, 1932) or Limited Liability Partnership (under The Limited  Liability Partnership Act, 2008). </p></div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>     A  Startup firm can take the form of a Private Limited Company (under The  Companies Act, 2013) or a Registered Partnership Firm (under The Indian  Partnership Act, 1932) or Limited Liability Partnership (under The Limited  Liability Partnership Act, 2008). </p></div></td></tr>
</table>Arthapediahttp://www.arthapedia.in/index.php?title=Start-up_firm&diff=2855&oldid=prevArthapedia at 06:13, 18 January 20162016-01-18T06:13:56Z<p></p>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div><p>    Startups  are eligible for a series of benefits under [http://dipp.nic.in/English/Investor/startupIndia/StartupIndia_ActionPlan_16January2016.pdf Startup  India Action Plan] which in a nutshell may be  seen [http://www.narendramodi.in/india-s-future-is-in-innovation-creativity-pm-modi-at-the-launch-of-start-up-india-initiative-399648 here].  A Startup would be eligible for tax benefits only after it has obtained  certification from the Inter-Ministerial Board, setup for such purpose.  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div><p>    Startups  are eligible for a series of benefits under [http://dipp.nic.in/English/Investor/startupIndia/StartupIndia_ActionPlan_16January2016.pdf Startup  India Action Plan] which in a nutshell may be  seen [http://www.narendramodi.in/india-s-future-is-in-innovation-creativity-pm-modi-at-the-launch-of-start-up-india-initiative-399648 here].  A Startup would be eligible for tax benefits only after it has obtained  certification from the Inter-Ministerial Board, setup for such purpose.  </div></td></tr>
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<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div>     A  Startup firm can take the form of a Private Limited Company (under The  Companies Act, 2013) or a Registered Partnership Firm (under The Indian  Partnership Act, 1932) or Limited Liability Partnership (under The Limited  Liability Partnership Act, 2008). </<del class="diffchange diffchange-inline">li></del></div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div>     A  Startup firm can take the form of a Private Limited Company (under The  Companies Act, 2013) or a Registered Partnership Firm (under The Indian  Partnership Act, 1932) or Limited Liability Partnership (under The Limited  Liability Partnership Act, 2008). </<ins class="diffchange diffchange-inline">p</ins>></div></td></tr>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>==Reference==</div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>==Reference==</div></td></tr>
</table>Arthapediahttp://www.arthapedia.in/index.php?title=Start-up_firm&diff=2854&oldid=prevArthapedia: Created page with "<p> Start-up generally means a new born firm /entity. However, Startup for the purposes of Indian Government schemes means an entity, incorporated or registered in India not..."2016-01-18T05:59:43Z<p>Created page with "<p> Start-up generally means a new born firm /entity. However, Startup for the purposes of Indian Government schemes means an entity, incorporated or registered in India not..."</p>
<p><b>New concept</b></p><div><p><br />
Start-up generally means a new born firm /entity. However, Startup for the purposes of Indian Government schemes means an entity, incorporated or registered in India not prior to five years, with annual turnover not exceeding Rs. 25 crore (around US$ 3.7million) in any preceding financial year, working towards innovation, development, deployment or commercialization of <em>new</em> products, processes or services driven by technology or intellectual property. </p><br />
<p> A business is covered under the definition only if it aims to develop and commercialize </p><br />
<ul><br />
<li>a new product or service or process; </li><br />
<li>or a significantly improved existing product or service or process, that will create or add value for customers or workflow. <br><br />
</li><br />
<br />
</ul><br />
<p><br>The mere act of developing</p><br />
<ul><br />
<li>products or services or processes which do not have potential for commercialization; or </li><br />
<li>undifferentiated products or services or processes; or </li><br />
<li>products or services or processes with no or limited incremental value for customers or workflow would not be covered under this definition.</li><br />
</ul><br />
<br />
<p><br />
This definition of startup is given in the [http://dipp.nic.in/English/Investor/startupIndia/StartupIndia_ActionPlan_16January2016.pdf Startup India Action Plan] launched by the Indian Government on 16 January 2016. <br />
<p> It is stipulated that such an entity is not formed by splitting up, or reconstruction, of a business already in existence. <br />
<p> The entity shall cease to be a Startup if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 5 years from the date of incorporation/ registration. <br />
<p> Innovativeness of the entity to be considered as a start up would have to be recommended by a Business Incubator established in a post-graduate college in India or under any Government scheme for Innovation or by an [http://arthapedia.in/index.php?title=Alternative_Investment_Funds_(AIFs) Incubation Fund/Angel Fund/ Private Equity Fund/ Accelerator/Angel Network] which is duly registered with [http://www.sebi.gov.in/sebiweb/ Securities and Exchange Board of India] [SEBI]. Alternatively, it should have a patent granted by the [http://www.ipindia.nic.in/ Indian Patent and Trademark Office] in areas affiliated with the nature of business being promoted. An Inter-Ministerial Board setup by [http://dipp.nic.in/English/default.aspx Department of Industrial Policy and Promotion] (DIPP) would validate the innovative nature of the business. <br />
<p> Startups are eligible for a series of benefits under [http://dipp.nic.in/English/Investor/startupIndia/StartupIndia_ActionPlan_16January2016.pdf Startup India Action Plan] which in a nutshell may be seen [http://www.narendramodi.in/india-s-future-is-in-innovation-creativity-pm-modi-at-the-launch-of-start-up-india-initiative-399648 here]. A Startup would be eligible for tax benefits only after it has obtained certification from the Inter-Ministerial Board, setup for such purpose. <br />
<p><br />
A Startup firm can take the form of a Private Limited Company (under The Companies Act, 2013) or a Registered Partnership Firm (under The Indian Partnership Act, 1932) or Limited Liability Partnership (under The Limited Liability Partnership Act, 2008). </li><br />
</ul> <br />
<br />
<br />
<br />
==Reference==<br />
*[http://dipp.nic.in/English/Investor/startupIndia/StartupIndia_ActionPlan_16January2016.pdf Startup India Action Plan] <br />
<br />
<br />
==Contributed by==<br />
* [http://www.ies.gov.in/myaccount-profile-view.php?memid=338 Rose Mary K Abraham (IES 2006)]<br />
*Email- [mailto:rosemary.a@nic.in rosemary.a@nic.in]<br />
<br />
[[Category:concepts|Startupfirm]]</div>Arthapedia