Union Government launched Startup India Portal and Mobile App

On Behalf of Union Government Department of Industrial Policy & Promotion (DIPP) Headed by Ramesh Abhishek launched Startup India portaland mobile app In New Delhi.

Startup India is a flagship initiative of the Government of India, aimed to build a strong eco-system to encourage new Startups in the country.

Startups:

• An entity, which is registered in India not over five years and the annual turnover not exceeding 25 crore in any financial year.
• Startup not formed by splitting up/ reconstruction of a business already in existence.
• Entity will not be considered a Startup if its turnover in the previous financial years has exceeded Rs.25 crore or has completed 5 years from the date of formation.
• The newly registered companies will be eligible for tax benefits.

Key Features:

• Information Availability: The portal and mobile app provide up-to- date information on various notifications/circulars issued by various Government ministries/ departments, towards creation of a conducive ecosystem for Startups.
• Startup India Hub: The Startup India Hub, will be a single point of contact for the entire Startup ecosystem.
• Application for Startup Recognition: Entities that fulfil the criteria on the Startup can obtain recognition as a Startup to avail various benefits listed in the Startup India Plan.
• Real Time Startup Recognition:A real time recognition certificate is provided to Startups and a digital version of the final certificate of recognition is available for download, through the portal and mobile app.
• Verification of Recognition Certificate: The certificate of recognition is verifiable through the portal and mobile app by entering the Startup Recognition/ Certificate Number.
• Approval of Inter-Ministerial Board: an Inter-Ministerial Board has been set up to verify the eligibility of Startups opting to avail Tax.