In our earlier post we had talked about the government providing certification to 20 private organizations, including Nasscom and iSprit, as Incubators to issue recommendation letters to Startups under the Start-up India Action Plan (“Action Plan”) and benefits to startups.
Startups in India need to be recognized by the Department of Industrial Policy and Promotion (“DIPP”) to avail the benefits under the Action Plan. However, the applications for such a recognition have to be accompanied by a letter of recommendation/support/funding/endorsement from an Incubator.
An incubator must fall in one of the following categories to be authorized to provide a recommendation/…
The government has certified 20 private organizations, including Nasscom and iSprit, as incubators under the Start-up India Action Plan (“Action Plan”).
The Action Plan is a part of a flagship initiative of the government of India, intended to build a strong eco-system for nurturing innovation and start-ups in the country. “Start- up” under the Action plan means a private limited company, partnership firm or a LLP, incorporated or registered in India not prior to five years, with annual turnover not exceeding INR 25 crore in any preceding financial year, working towards innovation, development, deployment or commercialization of new products, processes…
NovoJuris
Legal Counsellors. Expertise in tech laws, venture capital, funds, international structuring, corporate laws, IP, mediation & settlements, startups,accelerators
