Under
the Startup India Action Plan, startups that meet the definition as prescribed
under the G.S.R. notification 501 (E) are eligible to apply for recognition
under the program. The Startups have to provide support documents, at the time
of application.
Eligibility
Criteria for Startup Recognition:
The Startup should be incorporated as a private limited
company or registered as a partnership firm or a limited liability partnership
An entity shall be considered as a startup up to 10 years
from the date of its incorporation.
Turnover should be less than INR 100 Crores in any of the
previous financial years
An
entity shall be considered as a startup up to 10 years from the date of its
incorporation.
The Startup should be
working towards innovation/ improvement of existing products, services and
processes and should have the potential to generate employment/ create wealth.
An entity formed by
splitting up or reconstruction of an existing business shall not be considered
a “Startup”
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