Who can apply
The entity should be a startup recognized by DPIIT and applicant must be a citizen of India represented individually or as a team. The entity is in the early revenue stage or has a prototype / working model.
An entity shall be considered as a Startup:
- Upto a period of ten years from the date of incorporation / registration, 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.
- Turnover of the entity for any of the financial years since incorporation / registration has not exceeded one hundred crore rupees.
- Entity 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.
- An entity formed by splitting up or reconstruction of an existing business shall not be considered as ‘Start-up’.