| Self Certification for Startup India Registration |
Startup India allows businesses to self-certify their compliance with certain labor and environmental laws. This reduces regulatory burden and promotes ease of doing business for startups. It enables startups to focus on growth and innovation without worrying about complex compliance procedures.
Key Benefits:
- Streamlined compliance procedures for startups.
- Reduced red tape and regulatory hurdles.
- Encourages more entrepreneurs to start and grow businesses.
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| Startup Patent application and IPR Application |
Startups can avail benefits related to Intellectual Property Rights (IPR) such as fast-track patent examination, rebate in patent fees, and support for filing patents and trademarks. This protects their innovations and intellectual property. By encouraging startups to protect their intellectual assets, Startup India fosters innovation and competitiveness.
Key Benefits:
- Accelerated processing of patent applications.
- Reduced costs for patent and trademark filings.
- Protection of innovative ideas and products.
- Access to expert guidance on IPR matters.
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| Tax Exemption Under 80 IAC |
Startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT) can enjoy a tax holiday for three consecutive assessment years out of their initial ten years of operation. This exemption from income tax promotes financial stability and growth for startups. It allows them to reinvest profits into their businesses and scale up more rapidly.
Key Benefits:
- Reduced income tax liability for eligible startups.
- Increased capital for business expansion and innovation.
- Enhanced competitiveness in the market.
- Encourages entrepreneurship and investment in startups.
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| Section 56 Exemption |
Section 56 of the Income Tax Act is not applicable to eligible startups, which means they won't face any taxation issues related to the issuance of shares at a premium. This exemption encourages angel investors and venture capitalists to invest in startups without adverse tax implications. It facilitates easier fundraising for startups.
Key Benefits:
- Encourages investments from angel investors and VCs.
- Promotes access to capital for growth and expansion.
- Supports startups in raising funds without tax burdens.
- Fosters a robust ecosystem for startup funding.
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| Easy winding up of Company |
Startups with simple debt structures or those with assets less than ?50 lakhs can wind up their business within 90 days through a simplified insolvency process, making exit strategies more accessible. This streamlined process reduces the financial and administrative burden on startups and provides a safety net for entrepreneurs to take calculated risks.
Key Benefits:
- Quick and simplified winding up process.
- Lower financial and administrative burden.
- Encourages innovation and entrepreneurship by providing a safety net for startups.
- Promotes risk-taking and experimentation in the startup ecosystem.
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| Easy Public Procurement Norms |
Startups have easier access to government procurement opportunities. They can participate in tenders with relaxed eligibility criteria, providing them with more business opportunities. This opens up a significant market for startups and allows them to contribute to government projects and initiatives.
Key Benefits:
- Increased business opportunities through government contracts.
- Relaxed eligibility criteria for tender participation.
- Supports startups in contributing to government projects.
- Expands the reach of startups in the public sector.
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| Easy access to Startup India Portal |
The Startup India portal serves as a one-stop platform for startups to access resources, information, and government schemes. It provides valuable tools and knowledge to help startups grow and thrive.
Key Benefits:
- Access to a wealth of resources, guides, and knowledge.
- Information about government schemes and benefits.
- Networking opportunities with other startups.
- Updates on the latest startup-related policies and initiatives.
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| Networking and Collaboration |
Startup India fosters a collaborative ecosystem where startups can connect, collaborate, and learn from each other. It organizes events, workshops, and networking sessions to facilitate interactions between startups and industry experts.
Key Benefits:
- Opportunities to collaborate with other startups.
- Access to mentors, investors, and industry leaders.
- Enhanced visibility and recognition in the startup community.
- Exchange of ideas and experiences for growth.
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| Market Access and Promotion |
Startup India provides startups with access to a vast market through partnerships with various stakeholders. It promotes startups through various channels, increasing their visibility and customer base.
Key Benefits:
- Access to a broader customer base and market opportunities.
- Marketing and promotion of startup products and services.
- Partnerships with industry players for growth.
- Market exposure and brand building for startups.
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| Export Promotion |
Startup India encourages startups to explore international markets by providing export assistance and support. It helps startups tap into global opportunities and expand their presence beyond borders.
Key Benefits:
- Guidance and support for exporting startup products/services.
- Access to export-related incentives and schemes.
- Market research and entry strategies for international expansion.
- Opportunities to participate in global trade events and exhibitions.
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