New Delhi, Feb 6 (KNN) The government has revised the startup recognition framework aiming to strengthen the Startup India Action Plan and support the Prime Minister’s vision of making India a global centre for innovation, advanced manufacturing and emerging technologies.
The updated norms aim to create a more predictable and inclusive policy environment for founders, while encouraging long-term investment in research- and technology-intensive sectors.
The revised framework comes as Startup India enters its second decade and follows consultations with startups, industry stakeholders and relevant ministries.
Higher Turnover Limit for Startups
Under the new norms, the turnover threshold for recognition as a startup has been raised from Rs 100 crore to Rs 200 crore. The change is intended to support enterprises at different stages of growth and allow more scaling companies to continue accessing startup-related benefits.
New Category for Deep Tech Startups
A separate category for ‘Deep Tech Startups’ has been introduced for entities working on advanced and breakthrough technologies. The criteria for identifying deep tech ventures have been finalised in consultation with government departments and ecosystem stakeholders.
Recognising the long development cycles and high research costs associated with such ventures, the age limit for deep tech startups has been extended from 10 years to 20 years from the date of incorporation or registration. The turnover ceiling for this category has also been increased to Rs 300 crore.
Cooperative Societies Included
The revised framework has expanded eligibility to include cooperative societies, with the aim of promoting innovation at the grassroots level.
Multi-State Cooperative Societies registered under the Multi-State Cooperative Societies Act, 2002, as well as cooperatives registered under State and Union Territory laws, will now be eligible for startup recognition, subject to meeting other prescribed conditions.
(KNN Bureau)
