Power of Legitimacy: Startup India Registration benefits

1. Power of Legitimacy: Startup India Registration benefits Ever since the launch of the Startup India Program in the country, innovators across India have started coming together on a common portal to embrace new ideas and boost employment. Startup India Scheme The ultimate objective of the Startup India Scheme is to instil a sense of innovation in aspiring entrepreneurs. The Startup India Program was launched to generate employment and boost economic growth in the country. Through this initiative, the government aims to foster new ideas, research, and innovations. Let’s look at the Startup India Registration benefits in India. Startup India Registration benefits in India • Self Certification Startups are more likely to fall in the early stages of their life cycles. These companies often found themselves in the dilemma of remaining viable against adversity, such as complying with government regulations. However, thanks to the efforts of Startup India, we have been able to provide a buffer against such disruptions by removing some stringent regulations. Startups are currently allowed to self-certify under labour and environmental laws. The respective authorities will not conduct any investigation for three years. However, if a violation can be proven, the competent authority may issue an investigation order and appoint an officer to investigate the matter. In the case of environmental laws, Startups that fall under the Central Pollution Control Board (CPCB) ‘White category’ are eligible for self- certification of compliance. For them, only random research is possible. •Tax Exemptions Startup companies operating under the Startup India program do not have to pay any tax for a period of three years. Additionally, funds from incubators and Angel investors are also tax free. Three years of tax exemptions means startups can use the funds in their own way and use it to grow their business. Additionally, the government offers some tax relief for frontline investments that exceed fair market value. This is probably one of the benefits of registering with Startup India. •Mobile App The main benefit of Startup India for rendering companies is the ability to register in a single form. The registration process can also be completed though the Startup India mobile application. The application comes with a single form that startups can use to complete the registration process. This mobile application allows startups to complete procedures related to registration, approvals, compliance filing, etc. in a single window. This application offers startup companies the opportunity to register in just a few steps. Using the online portal is one of the biggest benefits of registering with Startup India.

2. •Networking Options The Startup India program allows startups to connect with other startup stakeholders at specific locations and times. These conferences are held twice a year in the form of a festival. These festivals are held at both national and international levels. Such advantages allow startups to explore more financing options as well as business ideas to ensure growth. •Government Tenders Government projects are supported by growth potential and financial incentives. Unfortunately, winning government projects is not easy as competition is fierce. The Startup India program has provided some incentives by making it easier for eligible companies to access such tenders. •Benefits of Research and Innovation Startup is committed to innovation and research for those who will emerge as entrepreneurs in the next era. The government is taking all measures to support these people. The government has committed to establishing seven new research parks for product research and development. Being open to new ideas and innovations is one of the main Startup India benefits. Patent filing and Intellectual Property protection for Startups Startup India is also committed to providing intellectual property and reduces to protect startups’ patented ideas from possible infringement. It also commercializes intellectual property rights. This includes: •Expedited processing of Startup patent applications. •80% discount on patent applications compared to other companies. •50% off on trademark registration compared to other companies. •An organization that supports startups with government support and intellectual property applications.

3. •Hassle free Business Liquidation Startups under the Startups India program can liquidate their business within 3 months. To ensure a smooth shutdown, Startups also need to hire a bankruptcy professional to liquidate their assets. •SIDBI Fund as Corpus Fund The government of India provided INR10,000 crores for the development of domestic startups. SIDBI manages these funds, and its mission is to support innovation-driven companies through equity financing. •Access governments Marketplace Government E-Marketplace (GeM) is a web-based portal and one of the most important marketplaces for government agencies to procure services and products. Startups recognized by DPI will be allowed to use such platforms to sell their products to government agencies. This opens new opportunities for Startups looking to work with governments on contracts. Key Features of Startup India Campaign •Single window clearance with Mobile application •Corpus his Rs. 10,000 crore funding to start development of Startup •Patent Registration fees are 80% lower than the original fees •Liberalize bankruptcy laws to enable smooth withdrawal •3-year exemptions from mystery inspections •3-year exemption from capital gains tax •No profit for 3 years •No bureaucracy •Self-certified compliance •Innovation centre for business enthusiasts on Atal Innovation Mission •With intellectual property rights, protection provisions for startups, and new entrants’ new scheme for enterprises •Promoting innovation and entrepreneurship