Knowledge Base

Startup

As per the Gazette Notification No. G.S.R. 127(E) dated February 19, 2019, an entity shall be considered as a Startup, if-

  1. Incorporate/ Register: It is incorporated/ registered in India as-

  • Private Limited Company (as defined in the Companies Act, 2013) or

  • Partnership Firm (registered under section 59 of the partnership Act 1932) or

  • Limited Liability Partnership (under the Limited Liability Partnership Act, 2008);

  1. Period: Up-to a period of ten years from the date of incorporation/ registration

  2. Turnover: Its turnover for any of the financial years since incorporation/ registration has not exceeded one hundred crore rupees

  3. Working: It is working as-

  • It is working towards innovation, development or improvement of products or processes or services, or

  • It is a scalable business model with a high potential of employment generation or wealth creation

Note: Provided that any such entity formed by splitting up or reconstruction of a business already in existence shall not be considered a 'Startup'.