The Program is unique and addresses the need of structured guidance in the entrepreneurial venture. First six months are very crucial in a start-up. This phase can make the difference of success from failure. Even experienced entrepreneur may be unable to cope up with situations not witnessed ever before. In a problem situation, it is quite common to fall back on friends and family. What if this set of people have limited know-how in the new start-up? What are the industry's best practices that new start-up can adopt to avoid costly mistakes? How to increase connections and reach out to people, otherwise difficult to get advise and help from?
The Startup Board's Able-to-Enable program pitches just for that. The team, we call the board members for the program, act as board member to the start-up enterprise without necessarily having the equity. This is unheard of for a start-up. Perception is it is costly and availability of team is always a issue. This concept, taken from large organizations where board helps the CEO with strategic direction, market knowledge and key decision making, is extended to the mentored start-up.
We do not unnecessarily burden the startup irrespective of what he wants to leverage from the program. Therefore, the charges are modular and are based on what complementary skills one choose judiciously. Some of the factors that influence the charges are
We shall be glad to share the exact charges once a call to understand your need has taken place. For any further information, feel free to contact us at info@thestartupboard.com .
The session is designed to help the entrepreneur in development of respective functional strategic plan (e.g. HR plan, Marketing Plan etc.) for their venture. We can confront with different ideas in different sectors that entrepreneur have to start their venture with. Taking common threads together, it will distinguish exceptional strategic inputs specific for sector / industry or venture. Delivery inputs are intended through
? How to market effectively without spending a fortune? Should we be product specific company or a service company? Etc..An entity (Private Limited Company or Registered Partnership Firm or Limited Liability Partnership) shall be considered a “Startup” –
a) Upto 5 years from the date of its incorporation/ registration, and
b) If its turnover for any of the financial years has not exceeded INR 25 crore, and
c) It is working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property.
The entity should not have been formed by splitting up or reconstruction of a business already in existence.
A proprietorship or a public limited company is not eligible as startup. A one person company, being a private limited company is entitled to be recognized as a 'startup'.
For additional information, refer notification G.S.R. 180(E) dated February 17, 2016.
For availing various benefits (except tax and IPR related benefits i.e. action points #4, #9, #10 and #11 of the Startup India Action Plan), an entity would be required to be recognized as a Startup by applying on Startup India Mobile App/ Portal.
In order to obtain tax and IPR related benefits, a Startup shall be required to be certified as an eligible business from the Inter-Ministerial Board of Certification.
An entity would cease to be a 'startup' upon expiry of:
a) 5 years from the date of its incorporation/ registration, OR
b) If its turnover for any of the financial years has exceeded INR 25 crore; OR
Startups would be required to intimate DIPP of any such cases within a period of 21 days.
Yes, an existing entity that meets the criteria as indicated in response to Question 1 can visit the Startup India Portal and Mobile App and get itself recognized for various benefits. The tax benefits proposed under the Finance Bill 2016 will be available from 01-04-2016.
The process of registration in such cases shall be real time and the certificate of recognition would be issued immediately upon successful submission of the application.
There are two options available in such cases.
a) Option 1: An entity can register itself through MCA or Registrar of Firms using the existing processes and subsequently register itself on the Startup India portal and mobile app as a “Startup” to avail the benefits.
b) Option 2: An entity can register itself through the Startup India portal and mobile app using a seamless process. This facility would be made available in the second phase of the Startup India portal and mobile app launch.
One of the following documents is required to be uploaded along with the application for registration as a Startup on Startup India portal and mobile app:
a) recommendation (with regard to innovative nature of business), in a format specified by Department of Industrial Policy and Promotion, from any Incubator established in a post-graduate college in India; or
b) letter of support by any Incubator which is funded (in relation to the project) from Government of India or any State Government as part of any specified scheme to promote innovation; or
c) recommendation (with regard to innovative nature of business), in a format specified by Department of Industrial Policy and Promotion, from any Incubator recognized by Government of India; or
d) letter of funding of not less than 20 percent in equity by any Incubation Fund/ Angel Fund/ Private Equity Fund/ Accelerator/ Angel Network duly registered with Securities and Exchange Board of India that endorses innovative nature of the business. Department of Industrial Policy and Promotion may include any such fund in a negative list for such reasons as it may deem fit; or
e) letter of funding by Government of India or any State Government as part of any specified scheme to promote innovation; or
f) patent filed and published in the Journal by the India Patent Office in areas affiliated with the nature of business being promoted.
The list of incubators recognized for the purpose of (a), (b) and (c) are published on the Startup India portal for reference.
The list SEBI registered funds for the purpose of (d) is also available on the Startup India portal.
No. The application has to be submitted online only.
Yes. On successful registration, you would be able to download a system generated verifiable certificate of recognition.
Yes. In such cases, an entity can apply again to the same incubator that rejected the application, as well as any other incubator.
Yes. In such cases, option to opt for such benefits may be indicated at a later stage as well.
Once a user opts for availing the benefits, his/ her application would be evaluated by the Inter-Ministerial Board. Once certified by the Board, the benefits may be availed.
Yes. An entity without a PAN can be registered as a Startup. However, it is advised that a valid PAN of the entity is provided at the time of registration, as each entity is separately taxable person.
It is advised that only one mobile number of the authorized representative of the entity is provided at the time of registration. The portal and the mobile app would be sending an OTP on the mobile number provided for the user to complete authentication and registration process.
Yes. The prescribed formats for recommendation/ support/ endorsement letters are published on Startup India portal - Govt of India - Startup India Portal.
In such cases, valid copy of the published patent would suffice as a supporting document.
The Inter-Ministerial Board of Certification would consist of:
a) Joint Secretary, Department of Industrial Policy and Promotion;
b) Representative of Department of Science and Technology; and
c) Representative of Department of Bio-technology.
The Board shall review the supporting document(s) provided to ascertain if the entity qualifies as an eligible business for availing tax/ IPR benefits.
An application for a certificate from the inter-ministerial board shall be processed within a period of 10-25 working days.
No. One (1) of the six (6) prescribed supporting material is mandatory to make an application to the Inter-Ministerial Board.
Our providing know-how to startup -founders is basis our mentor network. It is the single crucial most factor. To identify quality mentors to keep consistency, depth of know-how and availability of rich blend of perspective, we apply following filters
