The revised framework seeks to provide a more predictable, inclusive and future-ready policy environment for founders, while facilitating the flow of long-term patient capital into high-technology and research-intensive sectors, the government said in a statement.
Here are the key revisions to the startup recognition criteria
*The turnover limit for recognition as a startup has been increased from Rs 100 crore to Rs 200 crore.
* A new sub-category of “Deep Tech Startup” has been introduced for entities working on cutting-edge and breakthrough technologies.
*The eligibility criteria for “Deep Tech” category have been expanded, with the age limit extended from 10 years to 20 years from the date of incorporation or registration, and the turnover limit enhanced to Rs 300 crore.
*Startup recognition eligibility has been extended to cooperative entities. Accordingly, Multi-State Cooperative Societies registered under the Multi-State Cooperative Societies Act, 2002, as well as Cooperative Societies registered under State and Union Territory Cooperative Acts, are now eligible for startup recognition, subject to fulfilment of other applicable criteria.
