A Startup is a young company founded by one or more entrepreneurs to solve a particular problem that is not solved in an easy format yet. A Startup is born to fulfill demand with the help of unique services and/or products. For example, Google made a platform that helped you to search for anything on the internet without extra effort with your comfort.
Company Founders are innovative and their Startups help them to bring their innovation to the world.
Startup According to Department for Promotion of Industry & Internal Trade (*DPIIT)
An entity shall be considered as a Startup:
1. If it is incorporated as a private limited company or registered as a partnership firm or a limited liability partnership in India
2. Up to ten years from the date of its incorporation/registration
3. If its turnover for any of the financial years since incorporation/registration has not exceeded INR 100 Crores
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
*Department for Promotion of Industry & Internal Trade (DPIIT) acts as the nodal Department for coordinating the efforts of all Central Government Departments and State Governments for carrying this plan forward.
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