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Benefits of Startup India Registration: key Startup India Schemes For 2024

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Startup India is a flagship initiative of the Government of India, launched in January 2016, aimed at fostering entrepreneurship and innovation in the country. It provides a robust framework for startups to grow and flourish by offering various incentives, simplifications, and support systems. Whether you’re an aspiring entrepreneur or a seasoned business owner, understanding the registration process and benefits under the Startup India scheme can be a game-changer.

What is Startup India?

Startup India registration. Highlights include simplified compliance, tax exemptions, funding support, intellectual property rights assistance, and participation in government tenders.
Discover the key benefits and government schemes under Startup India Registration that empower new businesses with financial support, tax exemptions, and more, fostering a thriving entrepreneurial ecosystem in India.

Startup India is a flagship initiative launched by the Government of India in January 2016 to promote entrepreneurship and innovation. The program aims to create a robust ecosystem for startups by providing them with various incentives, simplifying the registration process, and offering support systems like funding, tax exemptions, and intellectual property rights (IPR) assistance. By fostering innovation, the initiative seeks to drive economic growth, generate employment, and position India as a global startup hub. The program also emphasizes networking opportunities and streamlined compliance to help startups thrive in a competitive market.

Eligibility Criteria for Startup India Registration

1. Age of the Entity

The business should be newly established and must not be older than 10 years from the date of its incorporation. This ensures that only genuinely new and innovative ventures are eligible for the benefits under the Startup India initiative.

2. Type of Entity

To qualify, the business must be legally registered as a Private Limited Company, a Partnership Firm, or a Limited Liability Partnership (LLP). This registration is necessary to formalize the business structure and to comply with the regulations set by the government.

3. Annual Turnover

The company’s annual turnover should not exceed INR 100 crores in any financial year since its incorporation. This criterion ensures that the initiative benefits smaller businesses that are in the early stages of growth, rather than established large corporations.

4. Innovation and Scalability

The startup should be working towards innovation, development, or improvement of products, services, or processes. Alternatively, it should have a scalable business model with a high potential for wealth creation and employment. This ensures that the initiative supports businesses that contribute to the economy through innovation and growth.

5. Original Entity

The business must not be formed by splitting up or reconstructing an existing enterprise. This criterion is in place to ensure that only genuinely new startups, rather than restructured or rebranded older businesses, benefit from the program’s incentives.

How to Register Under Startup India

Startup India registration process, including steps such as incorporating the business, registering on the Startup India portal, applying for recognition, submitting required documents, and receiving the DPIIT recognition certificate.
Step-by-step guide to the Startup India registration process, from business incorporation to receiving the DPIIT recognition certificate.

To register under Startup India, follow these steps:

  1. Incorporate Your Business: Begin by setting up your business as a Private Limited Company, Partnership Firm, or Limited Liability Partnership (LLP). Ensure that your business is legally established and compliant with relevant laws.
  2. Visit the Startup India Portal: Go to the Startup India website and create an account. This portal is the gateway for applying for recognition and accessing various startup benefits.
  3. Apply for Recognition: Fill out the application form for startup recognition on the portal. Provide details about your business, including its nature, products/services, and innovative aspects.
  4. Submit Documents: Upload necessary documents such as your business’s certificate of incorporation, a brief description of your products or services, and any relevant proof of innovation or scalability.
  5. Receive DPIIT Recognition: Once your application is reviewed and approved by the Department for Promotion of Industry and Internal Trade (DPIIT), you will receive a recognition certificate. This certificate is crucial for availing various benefits under the Startup India initiative.
  6. Apply for Additional Benefits: After receiving recognition, apply for various benefits such as tax exemptions, funding support, and IPR facilitation, as applicable.

Key Benefits of Startup India Registration

  1. Simplified Compliance
    Enjoy streamlined regulatory procedures and a single-window clearance system, making it easier to meet legal requirements and focus on business growth.
  2. Tax Exemptions
    Benefit from income tax exemptions for three years, and relief from long-term capital gains and investments above fair market value, enhancing financial flexibility.
  3. Funding Support
    Access venture capital through a Fund of Funds with a corpus of INR 10,000 crores, and improved access to bank loans and credit facilities to support business expansion.
  4. Intellectual Property Rights (IPR) Support
    Receive fast-tracked patent applications, rebates on patent and trademark filings, and assistance from facilitators to protect and manage your intellectual property.
  5. Government Tenders
    Participate in government tenders without prior turnover or experience requirements, opening doors to significant contract opportunities and business growth.
  6. Networking Opportunities
    Engage in events, workshops, and seminars to connect with investors, mentors, and industry experts, fostering valuable business relationships and collaborations.
  7. Self-Certification
    Utilize self-certification for compliance with labor and environmental laws, reducing bureaucratic hurdles and facilitating smoother business operations.
  8. Easier Exit Process
    Benefit from a streamlined exit process under the Insolvency and Bankruptcy Code, 2016, allowing for quicker and more efficient business closures if needed.
  9. Startup India Certificate

    The Startup India Certificate is an official recognition granted by the Department for Promotion of Industry and Internal Trade (DPIIT) to businesses that meet the eligibility criteria under the Startup India initiative. This certificate validates the startup’s status and eligibility for various benefits provided by the program, including tax exemptions, funding support, and simplified compliance procedures.

  10. Partner Supports

    Under the Startup India initiative, Partner Supports refer to the collaboration with various organizations, including industry experts, incubators, accelerators, and corporates, to provide startups with essential resources and guidance. These partners offer support in areas such as mentoring, networking, funding, legal advice, and market access.

Startup India Schemes:

Startup India Schemes, including the Fund of Funds, Seed Fund Scheme, Credit Guarantee Scheme, and Atal Innovation Mission, highlighting the support provided to startups in India through funding, mentorship, and financial assistance.
Explore the key Startup India Schemes designed to provide funding, mentorship, and financial assistance to empower and accelerate the growth of startups across India.
  1. Fund of Funds for Startups (FFS)
    • Launched by the government to provide funding support to startups.
    • Managed by SIDBI (Small Industries Development Bank of India), this scheme allocates funds to SEBI-registered venture capital firms, which in turn invest in eligible startups.
    • The corpus for this fund is INR 10,000 crores, aimed at fueling the growth of startups in various sectors.
    • The objective is to bridge the funding gap and help startups access capital for scaling their operations.
  2. Startup India Seed Fund Scheme (SISFS)
    • Provides financial assistance to startups at the seed stage, which is crucial for product development, proof of concept, prototype development, and market entry.
    • The scheme has a corpus of INR 945 crores and offers up to INR 50 lakhs to eligible startups.
    • Funds are disbursed through selected incubators across the country, ensuring that startups have access to the necessary support and resources.
  3. Credit Guarantee Scheme for Startups (CGSS)
    • Offers collateral-free loans to startups, ensuring that lack of security doesn’t hinder access to funding.
    • The scheme provides credit guarantees on loans up to INR 10 crores per eligible startup.
    • This reduces the risk for lenders and encourages banks and financial institutions to provide loans to startups.
    • It covers various sectors, making it easier for startups to secure the capital needed for growth.
  4. Self-Employment and Talent Utilization (SETU) Scheme
    • Aims to support innovation and entrepreneurship in the country by creating an ecosystem that nurtures talent and provides access to incubation and acceleration programs.
    • Provides seed funding, mentoring, and advisory services to early-stage startups.
    • Encourages the development of technology-driven solutions to address societal challenges.
    • Helps entrepreneurs in developing viable business models and scaling their ventures.
  5. Atal Innovation Mission (AIM)
    • Established by NITI Aayog, AIM promotes innovation and entrepreneurship across India.
    • Includes initiatives like Atal Incubation Centres (AICs) and Atal Tinkering Labs (ATLs) to foster a culture of innovation at both the startup and school levels.
    • Provides grants, mentorship, and other support to startups and innovators.
    • Focuses on solving major societal challenges through innovation, particularly in sectors like healthcare, agriculture, and education.
  6. Pradhan Mantri Mudra Yojana (PMMY)
    • Facilitates micro-financing to small and micro-enterprises, including startups.
    • Offers loans up to INR 10 lakhs under three categories: Shishu (up to INR 50,000), Kishore (INR 50,000 to INR 5 lakhs), and Tarun (INR 5 lakhs to INR 10 lakhs).
    • Aims to empower startups with financial support to help them establish and grow their businesses.
    • Accessible through banks, non-banking financial companies (NBFCs), and microfinance institutions (MFIs).
  7. Startup India Innovation Challenges
    • Organized to encourage startups to develop innovative solutions to specific challenges across various sectors.
    • Winners receive funding, incubation support, and access to markets to bring their solutions to scale.
    • Helps identify and promote high-potential startups that can address pressing issues in areas like technology, healthcare, and environmental sustainability.
  8. Startup India Hub
    • A one-stop digital platform that connects startups with investors, mentors, incubators, and other stakeholders in the ecosystem.
    • Provides access to resources, tools, and government schemes tailored to the needs of startups.
    • Offers networking opportunities and access to various programs and events that help startups grow and scale.

Disclaimer

The information provided in this blog is for general informational purposes only and is not intended to be a substitute for professional advice. While we strive to ensure that the content is accurate and up-to-date, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability of the information contained herein. Readers are advised to consult with relevant professionals before making any decisions based on the content of this blog. We shall not be liable for any loss or damage arising directly or indirectly from the use of or reliance on this information.

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The Best Chai Franchises in India

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India’s love for chai is unparalleled. With the rise of chai franchises, this traditional beverage has found a new avenue for entrepreneurs and chai enthusiasts alike. In this blog, we explore some of the top chai franchises in India.

Overview of Chai Franchises

Chai franchises have become a booming business, offering not just a cup of tea but an experience. These franchises cater to the Indian palate with a variety of flavors and have become a part of the urban lifestyle.

1. MBA Chai Wala:

Best Chai Franchises in India
MBA CHAI WALA

MBA Chai Wala stands as a testament to entrepreneurial spirit and India’s cherished tea culture. What began as a modest venture by an MBA dropout has now blossomed into a franchise sought after by tea lovers and business enthusiasts alike.

  • Founders: The brainchild of Prafull Billore, MBA Chai Wala was born out of a passion for tea and a vision for a business that resonates with the masses. His brother, Vivek Billore, co-founded the brand, contributing significantly to its growth and outreach.
  • Franchise Model: With a flexible franchise model, MBA Chai Wala offers various formats ranging from kiosks to full-scale cafes, accommodating different investment levels and space requirements.
  • Investment Insights: The investment for an MBA Chai Wala franchise starts at approximately INR 16 Lakhs for a kiosk, inclusive of the franchise fee, with variations based on the chosen model.
  • Franchise Fee: The franchise fee is set at INR 4 Lakhs for a kiosk and INR 5 Lakhs for a dine-in model, providing access to the brand’s established name and comprehensive support system.
  • Space Specifications: A cozy kiosk requires a minimum of 100 sq. ft., while larger models like highway franchises demand between 5000 to 8000+ sq. ft., tailored to the location’s potential.
  • Royalty Arrangements: Franchisees contribute a monthly royalty of 6% on total sales, fostering a mutually beneficial relationship with the franchisor.
  • Services and Support: MBA Chai Wala extends a full spectrum of services, including training, operational guidance, product innovation, and marketing strategies. They also assist in site selection and establishment to ensure optimal performance.

MBA Chai Wala is more than a franchise; it’s a hub where connections are made over steaming cups of chai. It represents a lucrative opportunity for those eager to dive into the F&B sector with a brand that’s close to the heart of India.

2.Chai Sutta Bar:

Chai Sutta Bar is a distinctive franchise that has redefined India’s tea-drinking culture. Established in 2016 by visionaries Anubhav Dubey and Anand Nayak, it has swiftly expanded to over 550 outlets across more than 320 cities, both in India and abroad.

  • Founders: The founders, Anubhav Dubey and Anand Nayak, have infused their passion for chai into creating a brand that resonates with the youth and celebrates Indian traditions through a modern lens.
  • Franchise Model: Chai Sutta Bar offers two franchise models: FOFO (Franchise Owned Franchise Operated) and COCO (Company Owned Company Operated), providing flexibility and support to franchisees.
  • Investment Details: The investment for starting a Chai Sutta Bar franchise begins at around INR 16 Lakhs, which includes a franchise fee that grants access to the brand’s established system and ongoing support.
  • Space Requirements: The space needed for a Chai Sutta Bar outlet can range from a compact 150 sq. ft. kiosk to larger 1200 sq. ft. setups, depending on the franchise model and location.
  • Royalty Fee: A monthly royalty fee of 4% on total sales is required, contributing to the brand’s continuous development and marketing initiatives.
  • Services and Support: Chai Sutta Bar provides comprehensive operational support, marketing assistance, and a robust supply chain ecosystem, ensuring the success and growth of its franchise partners.

Chai Sutta Bar isn’t just a franchise; it’s a cultural phenomenon that offers a promising opportunity for entrepreneurs to be part of a brand that’s making a significant impact both nationally and internationally.

3.Chai Point:

Company Background: Chai Point, India’s largest chai retailer, began its journey in 2010 in Bangalore. It has expanded to over 175 outlets across various cities, serving more than 300,000 cups of tea daily.

  • Founder: Chai Point was founded by Amuleek Singh Bijral.
  • Franchise Model: Chai Point operates on a Partner Franchise Model, which is different from the basic franchise model. In this model, high-performing employees are given the opportunity to own a franchise, promoting rapid expansion through dedicated and capable units.
  • Investment & Fees: The estimated investment for starting a Chai Point franchise ranges between INR 25 to 30 lakhs, depending on the location and type of area.
  • The franchise fee is approximately INR 5 lakhs, with a potential 2% royalty fee on sales.
  • Space Requirements: While specific details about space requirements are not provided, Chai Point stores are typically located in retail locations, airports, and business parks, suggesting a need for a strategically positioned space.
  • Services: Chai Point offers a variety of tea-based beverages and snacks, with services extending from physical stores to deliveries under ‘Chai-on-call’. They also provide brewing systems for workplaces and sell their products on online platforms like Amazon.

Note: It’s important to verify the current franchise model, investment details, and space requirements directly with Chai Point, as these details can change over time and may vary based on location and other factors.

If you’re considering starting a Chai Point franchise, it’s recommended to contact them directly for the most accurate and updated information. Would you like assistance with anything else?

4.Tea Villa Cafe

Tea Villa Cafe is a vegetarian multi-cuisine restaurant chain that has been serving a diverse menu and a variety of teas since 2014. Here’s a brief overview of their franchise model and other details:

  • Founders: The cafe was established by Micky Panjwani and Roopanshi Bhatt.
  • Franchise Model: They offer two models: the Cafe Model and the Xpress Outlet.
  • Investment Required: For the Cafe Model, the setup and interior cost ranges from 30 to 50 Lakhs, while the Xpress Outlet requires a total investment of 15 to 18 Lakhs.
  • Franchise Fee: The Cafe Model has a franchise fee of 25 Lakhs plus GST, and the Xpress Outlet has a franchise fee of 5 Lakhs plus GST.
  • Space Required: A minimum of 1200 sq ft is required for the Cafe Model.
  • Royalty Fee: The Cafe Model has a royalty of 5% on monthly sales, and the Xpress Outlet has a fixed royalty of 20K per month.
  • Services: Tea Villa Cafe offers a cozy and serene ambiance with a menu featuring vegetarian dishes from various cuisines like Italian, Indian, Asian, and Continental. They also provide an authentic tea experience with a variety of teas, coffees, and other beverages.

5.Darjeeling Tea Boutique:

They specialize in providing single-origin, high-quality Darjeeling teas, which are selected and procured directly from the gardens immediately after production.

  • Founding Year: Established in 2012 with the sole intention of facilitating access to pure and premium Darjeeling loose-leaf teas.
  • Source of Teas: Located in Darjeeling, India, the source of the renowned “Champagne of Teas.”
  • Unique Advantage: They choose the best selection of teas immediately after production by the garden. Freshly made teas reach them within 4 to 6 hours, preserving unique aromas and flavors.
  • Tea Selection: Offers single-origin, high-quality Darjeeling teas, including first flush, second flush, autumn flush, green, and white teas.
  • Franchise Opportunity:
    • Investment: Ranges from ₹20-25 lakhs.
    • Royalty Fee: 5%.
    • Ambiance: Boutique ambiance celebrates the purity of Himalayan brew.
  • Tea Varieties: Signature teas include Silver Tips Imperial, Silver Green Bai-mu-Dan, and Apoorva Tips.
  • Global Reach: Over 100 franchise shops across India, serving tea lovers worldwide.

Darjeeling Tea Boutique offers an authentic tea experience, connecting tea enthusiasts with the essence of Darjeeling tea.

6.The Tea Planet:

The Tea Planet is a renowned franchise that offers an extensive range of teas and beverages, sourced from the finest plantations in India and Sri Lanka. It stands out as India’s first Bubble Tea Ingredients Manufacturer, providing a unique blend of traditional and modern flavors to cater to diverse palates.

  • Founders: The visionary duo behind The Tea Planet are Madhuri and Srinivas Ganadinni, who have cultivated the brand with a commitment to quality and sustainability.
  • Franchise Model: The Tea Planet offers a versatile franchise model, including Café, Premium, Metro, Standard, and Express Cart options, allowing for a wide range of investment opportunities and setups in various locations.
  • Investment & Fees: Prospective franchisees can expect an investment range of INR 5 lakh – 20 lakh, with a franchise fee of INR 300,000 and a royalty fee of 7%. The franchise license is valid for three years and extendable thereafter.
  • Space Requirements: The Tea Planet franchises can fit into spaces ranging from 100 – 800 sq.ft., making it adaptable to various commercial settings.
  • Services: The Tea Planet prides itself on being a one-stop destination for all beverage cravings, offering everything from hot tea and coffee to modern frappes and bubble tea. They also provide comprehensive support and training to franchisees.
  • Royalty Fee: A royalty fee of 7% is applicable for franchisees, ensuring ongoing support and the right to use The Tea Planet’s established brand name.

With its blend of quality, innovation, and comprehensive franchise support, The Tea Planet is an attractive opportunity for entrepreneurs looking to enter the specialty tea market.