Startup Definition (As defined by DIPP)
Startup means an entity, incorporated or registered in India :
- Upto a period of seven years from the date of incorporation/registration or upto ten years in case of Startups in Biotechnology sector
- As a private limited company or registered as a partnership firm or a limited liability partnership
- With an annual turnover not exceeding Rs. 25 crore for any of the financial years since incorporation/registration
- 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 an entity formed by splitting up or reconstruction of an existing business shall not be considered a ‘Startup’.
An entity shall cease to be a Startup:
- On completion of seven years from the date of its incorporation/registration, ten years in case of Startups in Biotechnology sector, or
- If its turnover for any previous year exceeds Rs. 25 crore
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