A portal to register your startup and get verified within one day? Yes! As had been promised by the government, recognition for startups will now be made easy. Startups can now register themselves online so as to avail all of the benefits of the Startup India Program. This has been made possible with the help of a dedicated portal and mobile app.
The Department of Industrial Policy and Promotion (DIPP) has launched an online portal along with a mobile app so as to make the registrations simple and effective. The portal enlists all the information about the incubators in different states and will also prove beneficial for the startups in gaining access to the different tax benefits upheld by the Startup India Program.
The registration will facilitate the enterprises to be validated by DIPP and therefore, be recognized as startups. All this can be done just within 24 hours. An InterMinisterial Board has also been set for the verification of the eligibility of start-ups opting to avail tax and IPR-related benefits.
The Startup India portal, at a later stage, would be equipped to get the companies registered under the Companies Act. This portal will be a single point of contact for startups, incubators, accelerators, VCs, seed capitalists, angel investors and the various government functionaries,all in one go.
This was accompanied by the launch of another portal that will act as provide information on intellectual property rights (IPR). It will act as a single window interface and will provide guidance on using IPR for competitive advantage. It has been developed under the patronage of the Department of Electronics & Information Technology (DeitY), the department of industrial policy and promotion (DIPP), and the Centre for Development of Advanced Computing (C-DAC).
SMEs and startups of the Communications and IT sector will be able to exploit the IPR portal to their maximum advantage.
A twelve point action plan had been announced by the government in order to push the startup movement in India. It focused on providing incentives for the startups such as capital, incubation and the right fit of people for these upcoming ventures. It was accompanied by the announcements of 3-year tax holidays for startups, capital gains tax exemption and mobility of a fund pool of Rs 10,000 crores.
This is not the end of the benefits for startups. They will also be able to get self-certified for nine labour and environment laws and will have the first three years as inspection-free years.
The portal is already live and the mobile app will go live on April 1, 2016, at 5:00 pm.
“We are moving ahead at a fast pace”, DIPP Joint Secretary Shailendra Singh said.
In a nutshell:
- Dedicated portal and mobile app launched by DIPP
- Startups can register through portal and app – http://startupindia.gov.in/registration.php
- Startups can check eligibility and get verified
- Portal for Intellectual Property Rights launched too – http://ict-ipr.in/index.php/ip-panorama
- Registration under Companies Act possible in future
- 3 years tax holiday for startups
- Capital Gains Tax Exemption
- Rs 10,000 crores to be mobilised for startups