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How To Start A Startup In India In 7 Steps

If you’ve never started a business, the first time can be a little scary. Especially because it takes a lot of hard work and planning. On top of this, only about half of all businesses survive five years or longer.

A startup is a newly established business, usually small, started by 1 or a group of individuals. What differentiates it from other new businesses is that a startup offers a new product or service that is not being given elsewhere in the same way. The keyword is innovation. The business either develops a new product/ service or redevelops a current product/service into something better.

History of Startup in India

Since we are on the topic of how to start a startup in India, it is important to know when India saw the emergence of these young companies. 

The emergence of startups is linked with entrepreneurship. In India, the entrepreneurial spirits were low before Independence. Those who wanted to go down this road were confined to several impractical rules and regulations. 

After Independence, the Indian economy’s dream to become self-reliant did act as fuel for the entrepreneurs. Added to this, the newly found freedom provided confidence and cleared a path for the entrepreneurs. 

However, in this era, the primary focus was on developing large-scale industries so that the economy could thrive with the help of the Trickle-Down Effect. 

But after the Liberalization reforms, the concept of startups began taking shape. As the Indian economy started to realize the benefits of privatization. Interestingly, the real spike in the startup ecosystem was realized after the 2008 recession

Steps to Register Your Startup With Startup India.

Step 1: Incorporate your Business

You should initially join your business as a Private Limited Company a Partnership firm or a Limited Liability Partnership. You need to follow every one of the ordinary techniques for the enlistment of any efficient acquiring the Certificate of Incorporation/Partnership enrollment, PAN, and other required compliances.

Step 2: Register with Startup India

Then, at that point, the business should be enrolled as a startup. The whole cycle is straightforward and on the web. You should simply sign on to the Startup India site and top off the structure with the subtleties of your business. Then, enter the OTP which is shipped off your email, and different subtleties like a startup as the kind of client, name, and phase of the startup, and so forth Subsequent to entering these subtleties, the Startup India profile is made.

Once, your profile is made on the site, new companies can apply for the different speed increases, hatchery/mentorship programs, and different difficulties on the site alongside gaining admittance to assets like Learning and Development Program, Government Schemes, State Polices for Startups, and free administrations.

Step 3: Get DPIIT Recognition

The following stage in the wake of making the profile on the Startup India Website is to profit Department for Promotion of Industry and Internal Trade (DPIIT) Recognition. This acknowledgment assists the new businesses with profiting benefits like admittance to top-notch licensed innovation administrations and assets, unwinding in open obtainment standards, self-confirmation under work and climate laws, simple twisting of organization, admittance to Fund of Funds, charge exception for 3 sequential years, and assessment exclusion on venture above honest evaluation.

For getting DPIIT Recognition, click on the ‘Get Recognized’ button assuming you are another client. In the event that you are a current client click on the ‘Dashboard button’ and, ‘DPIIT Recognition’.

Step 4: Recognition Application

The ‘Recognition Application Detail’ page opens. On this page click on ‘View Details’ under the Registration Details section. Fill up the ‘Startup Recognition Form’ and click on ‘Submit’.

Step 5: Documents for Registration

  • Incorporation/Registration Certificate of your startup
  • Details of the Directors
  • Proof of concept like pitch deck/website link/video (in case of a validation/ early traction/scaling stage startup)
  • Patent and trademark details (Optional)
  • PAN Number

Step 6: Recognition Number

That is it! On applying you will promptly get an acknowledgment number for your startup. The declaration of acknowledgment will be given after the assessment of every one of your reports which is generally done in 2 days subsequent to presenting the subtleties on the web.

Nonetheless, be cautious while transferring the archives. In the event that on resulting check, it is viewed as acquired that the necessary record isn’t transferred/the wrong archive transferred or a produced report has been transferred then you will be at risk to a fine of half of your settled up capital of the startup with a base fine of Rs. 25,000.

Step 7: Other Areas

Licenses, brand names, and additionally plan enlistment: If you really want a patent for your advancement or a brand name for your business, you can undoubtedly move toward any from the rundown of facilitators given by the public authority. You should bear just the legal charges hence getting an 80% decrease in expenses.

Subsidizing: One of the key difficulties looked at by numerous new companies has been getting to fund. Because of the absence of involvement, security, or existing incomes, business visionaries neglect to draw in financial backers. Moreover, the high-hazard nature of new companies, as huge rate neglect to take off, puts off numerous financial backers.

To give financing support, the Government has set up an asset with an underlying corpus of INR 2,500 crore and a complete corpus of INR 10,000 crore over a time of 4 years (for example INR 2,500 crore each year). The Fund is in the idea of Fund of Funds, and that implies that it won’t be put straightforwardly into Startups, however will take part in the capital of SEBI enlisted Venture Funds.

Self Certification Under Employment and Labor Laws: Startups would self be able to affirm under work laws and climate laws so their consistent costs are decreased. Self-affirmation is given to decrease administrative weight subsequently permitting them to zero in on their center business. New businesses are permitted to self-affirm their compliances under six work laws and three climate laws for a time of 3 to a long time from the date of consolidation.

Units working under 36 white classification ventures as distributed on the site of the Central Pollution Control Board don’t need leeway under 3 climate-related Acts for a considerable length of time.

Charge Exemption: Startups are excluded from personal expenses for a considerable length of time. Yet, to profit from these advantages, they should be affirmed by the Inter-Ministerial Board (IMB). The Startups joined on or after first April 2016 can apply for the personal expense exclusion.

Growing your Startup

We should discuss development now. Whenever you have set up an essential reinforcement of your startup, you can imagine developing. All the more significantly, you really want to know the perfect opportunity to develop or scale your startup.

Be that as it may, before we go there, you should be ready to scale your startup. How to begin developing is an alternate discussion? At first, you want some strong footwork on the ground.

Additionally, recollect that realizing that when will generally be negative is pretty much as significant as being bullish in your startup. As an organizer, you want to know when not to scale your startup.

Scaling resembles work underway and you really want to use secure promoting procedures for staying aware of the development energy. Adept promoting techniques guarantee client commitment and persuade them to make the ideal move.

Quite possibly the main thing to comprehend in how to begin a tech startup in India is rehearsing secure promoting procedures. With adept advertising, you will acquire the consideration of the crowd and invigorate their reasoning neurons. Also assuming the item is something that the clients truly need, they will draw in and connect.

Some Marketing Strategies

Sending Emails

Starting an email marketing campaign is a great way to attract new customers. Email marketing holds a better engagement rate and can be used for almost all kinds of businesses and products. 

Have a blog for your startup

If you are solving a pain for your customers and they are looking for ways to solve it online, you need to have your blog. Blogs are one of the most organic ways to attract an audience and potential customers that will help you grow. 

Be on Social Networks

4.57 Billion.  These many people are active on social media every month. And out of them, Facebook has 2.4 billion users, Instagram has 1 billion, Youtube 2 billion, and the list goes on.

Creating a social media marketing strategy is your answer to growth-oriented startup plans in India. Social media is a big game, so you may need the assistance of expert social media marketers to get the desired results. 

You can implement other suitable marketing strategies for your brand growth and scale. Measures like sponsoring an event or PPC advertisements can also help you gain some traction. 

More importantly, setting a marketing budget for your startup is also important. You cannot flood loads of money that you have acquired either from bootstrapping or via startup India loan or any other way. 

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