With more than 90,000 DPIIT-recognised startups, India has become a huge part of the startup ecosystem. DPIIT recognition is a flagship initiative of the Startup India Scheme. This scheme was introduced to promote the business ideology amongst the youth. The benefits of being a DPIIT-recognised startup are numerous. However, to get an advantage of these benefits, you need to apply for startup India certificate. In this blog, we will look at the list of mandatory and applicable documents required for startup India registration.
Key Features of the Startup India Scheme
Since its inception in 2016, the Startup India Scheme has been beneficial many startups registered in India. The key features that lead people towards this scheme are:
- It promotes innovation and creativity;
- This scheme aims to create an ‘ease of doing business’;
- A 10,000 crore fund has been set up to support recognised startups;
- An exemption of 3 consecutive years when it comes to Income Tax;
- Easy way of protecting Intellectual Property Rights; and
- Encourages wealth generation and employment creation.
Documents Required for Startup India Registration
You as a business owner can claim the benefits of Startup India Scheme only once you are recognised as a startup. To complete the process of registration, you need to submit the mandatory documents required for startup registration in India. The list of documents required for Startup India registration can broadly be classified in three categories:
- Details of the Authorised Person;
- Details from the Company (Entity) applying; and
- Other Documents/information.
We will take a detailed look at what information is covered under each category.
1. Details of the Authorised Person:
An authorised Person means the person representing the company for DPIIT recognition. This authorised person applies for the DPIIT recognition on behalf of his/her entity. Hence, the documents required for startup India registration from him are:
Letter of Authorisation
Allowing him/her to act as the authorised representative of the company. This will help the department in identifying relevant and fraudulent requests.
Copy of Aadhar Card
This copy will help the department in verifying the identity of the authorised person.
Basic information such as phone number, name, address, and e-mail ID of the representative for communication purposes.
2. Documents Required for Startup India Registration from the Entity
The authorised person has to submit other documents required for startup India registration along with his personal information. These details include the following:
Proof of Registration:
Only registered legal entities are eligible for startup India recognition. Hence, the department needs you to submit the proof of registration, which means the Certificate of Incorporation as issued by the Ministry of Corporate Affairs (MCA).
Contact Information of all Partners, Promoters, or Designated Partners:
You might apply as either a PLC, LLP, or a registered Partnership Firm. However, you will need to submit the following details of all the Directors/Partners: of the business:
- E-mail ID;
- Phone Number; and
- Company’s CIN/LLPIN
Details of the Company’s Activities
One of the major documents required for the startup India registration includes a brief description of the business plan of your entity. This brief should contain the following details:
- The type of innovation or improvement your company is working towards;
- How you plan on achieving the business plan; and
- Details on your Unique Selling Point (USP), that makes you stand out from others;
Details of Intellectual Properties
Be it a registered trademark or patent, you need to furnish the details of all IPRs applied/owned by your startup. This will help the authorities in getting a better idea of your business and its innovation.
3. Other Documents Required for Startup India Registration
Apart from the above-mentioned list, there are other documents required for DPIIT registration. These include:
- Link to the website;
- Pitch Deck of the business;
- Letter of recommendation from investors (not mandatory)
- Letter of Funding from Angel Investor (if applicable)
Pro Tips on Submitting the Documents Required for Startup Registration
LegalWiz.in is a startup that works for other startups. We have helped over 500 businesses in getting their DPIIT recognition. Here’s a list of things you should keep in mind before submitting the documents required for startup India registration:
- Do not forget to mention whether your company is bootstrapped or has received funding;
- Making clerical errors might lead to resubmission;
- All documents required for startup India registration must be in a PDF format;
- The Pitch Deck must be based on the guidelines provided by the authority;
- While describing your business, highlight your USPs; and
- Lastly, apart from these mandatory documents you are free to submit certain voluntary ones such as a video pitch of the entity, to give a better idea of your cause and operations.
Since its inception, the Startup India Scheme has been successful in helping more than 90,000 businesses in growing. Yours can be next if you complete the application process with utmost care. All you need to do is follow the process, submit all documents required for startup registration, and then wait for the startup India certificate!