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Startup

Start in Uttar Pradesh (START-IN-UP)


Startup

Start in Uttar Pradesh (START-IN-UP)


Startup

A startup is a modern version of an inventor


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Overview

 

An entity shall be considered as a Startup on fulfilling the conditions defined by the Government of India, vide notification no. G.S.R. 501 (E) dated May 23, 2017 (and as may be amended from time to time)

The conditions are as follows:

  1. if it is incorporated as a private limited company (as defined in the Companies Act, 2013) or registered as a partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008) in India; and
  2. up to seven years from the date of its incorporation/ registration; however, in the case of Startups in the biotechnology sector, the period shall be up to ten years from the date of its incorporation/ registration; and
  3. if its turnover for any of the financial years since incorporation/ registration has not exceeded Rupees 25 crores; and
  4. if it is working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation. Provided that any such entity formed by splitting up or reconstruction of a business already in existence shall not be considered a 'Startup'
  5. The Start-up should be registered in Uttar Pradesh.