InvestorQ : What are the companies that are eligible as a start-up to qualify under the Start-up India scheme?
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What are the companies that are eligible as a start-up to qualify under the Start-up India scheme?

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12 months ago
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As laid out in the Start-up India Action plan, followings conditions must be fulfilled in order to be eligible as Start-up under the definition:

· The business must have been incorporated or registered in India for less than 7 years and for biotechnology start-ups this is relaxed up to 10 years from date of incorporation

· Annual turnover of the business entity must not exceed Rs.25 crores in any of the preceding financial years, exclusive of GST

· The company must have an aim to work towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property

· It must not have been formed by splitting up or reconstruction of a business already in existence. For this purpose, it must obtain certification from the Inter-Ministerial Board setup for such a purpose

Such entities to qualify for start-ups can be incorporated as a private limited company, registered partnership firm or a limited liability partnership. Individual proprietorships are not eligible.
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