In recent times, India has emerged as one of the most profitable markets to launch a startup. Undoubtedly, there is a huge demand for innovative ideas, services, and products that ensure immense growth potential.
If you are also a budding entrepreneur, ready to start your entrepreneurial journey in India? If yes, then you must know about the importance of Startup India Registration as well as the important steps involved in it.
As more and more startups grow, obvious questions arise. What can you do to make your enterprise stand out from the competition? Here in this guide, we will discuss How to register a startup in India with the Startup India Scheme can be a perfect solution. We’ll also take a look at the step-by-step process for establishing the legitimacy of your startup.
Registering for Success: A Vital Step for Every Startup
Before taking your startup forward, let’s take a look at the various benefits of startup registration that you must know about as a business leader.
Financial advantages
One of the most important resources for running any business or startup is certainly finance. Without adequate financial resources, your startup idea, no matter how important it is, will not be able to flourish.
To attract angel investors to raise funds, the need for a unique legal identity is essential for a startup. Otherwise, potential investors will hesitate to ally with you as they always look for officially recognized companies that guarantee security, transparency, and government support. Thus, by registering your startup, you not only minimize any legal risks but also lay the foundation of your startup’s reputation in the eyes of investors.
Maximize growth with government support
Take Out: Another big advantage of registering your startup with DPIIT (Department for Promotion of Industry and Internal Trade) is to get easy access to government subsidies or grants. Remember, the government is providing monetary assistance to businesses registered under the Startup India scheme. Especially if you are a research-focused enterprise, you can expect a lot of support from the government.
Moreover, you can enjoy lucrative tax exemptions during the initial growth years, so you worry less about the tax burdens and direct your attention to creating, developing & innovating.
Gain visibility in both government and consumer markets
A validly registered enterprise will soon gain a good presence in the public and private sectors. Your potential customers will see your company as a trustworthy and established player, enhancing your credibility and brand image.
Safeguard your intellectual property rights
As a founder, protecting the intellectual property rights of your startup idea, invention, trade secret or business methods should be your top priority.
For legally incorporated startups, applying for trademarks, patents or designs will become more hassle-free than ever, giving your startup that extra edge.
Easy Guide to Registering Your Startup in India
Let us take you through the step-by-step process to register your business under the Startup India Scheme.
Set up your company
First, you need to decide on the business structure for your venture – Limited Liability Partnership (LLP), Public Limited Company (PLC), or a partnership firm. Generally, startups prefer the “Private Limited Company” structure as it provides greater ease of doing business.
Then, you need to follow the normal process of registering your company by filling out the form with the Registrar of Companies (ROC) or “Registrar of Firms”. After providing all the required details for the registration application and paying the fees, your business will become an established entity.
Register your startup on the online portal
The next step is to go to the Startup India portal. You can easily register a startup in India. All you need to do is click on the “Register” option in the top right corner and create your login credentials. After filling in all the details like your name, email ID, mobile number, type of user, stage of startup, etc. your Startup India account will be created.
Apply for the DPIIT recognition
As mentioned earlier, it is important to get DPIIT recognition to avail of all the benefits offered by various government schemes.
Log in to your Startup India account then go to the “Recognition Tab” and click on the “Apply for DPIIT” recognition option. A new page will appear, now click on “Apply Now”. It will redirect you to the NSWS (National Single Window System) website. Register your company on this platform and then fill out the “Startup Recognition Form” carefully to get DPIIT recognition.
In this, you have to submit details including business description, office address, representative credentials, board member or partner details, startup operations, etc.
Accept the terms and conditions and finally click on “Submit”.
Submit the essential paperwork
The documents required for startup registration in India Are as follows:
Incorporation certificate
Aadhar Card
PAN number
Official website of your company
Investment Proof (if you have)
Authorization letter
Pitch deck or website verification
Intellectual property details
Awards and acknowledgements list
Recommendations from past investors (if you have)
All set and finished
All documents will be thoroughly evaluated within 48 hours of online submission and then if everything goes well, you will receive a “Certificate of Recognition” with the recognition number for your startup. If you face application rejection or any difficulties during the process, it is best to consult a professional.
To Wind Up
Startup India registration, especially considering all the paperwork involved, may seem overwhelming at first, but with the right guidance and support, you can ensure a smooth experience. JustStart can be your trusted startup consultancy partner. We are a team of highly qualified professionals who provide ideal assistance to every budding entrepreneur to legalize their startup and start reaping all the benefits that come with it as soon as possible. Our budget-friendly startup compliance services will help you start your business quickly and easily. Note that we do not compromise on transparency and honesty. Leave all your registration worries to us and focus only on what is most important for the success of your enterprise. Set up a consultation with us today.
