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How to Startup

How to Startup

Disclaimer: Startup Association of India has published this list to help its supporters. We hold no responsibility for this information and the list is illustrative and does not cover everything your case might need. We suggest you seek legal advise before setting up a business.

  UPDATE: Our article on ‘starting up’ is not complete without mention of some of the articles we recently saw –

  • Our article on a representative format for a funding deck – http://startupassociation.in/format-of-investor-deck
  • The team at CB Insight has done a good job summarizing one of the most talked about aspects of any startup ecosystem –  reasons for failure.
    • we’ve all heard of how >90% of startups fail – CB Insight has given the top 12 reasons.
    • we want to remind our network that ‘failure’ is actually a positive if you’ve ‘learnt from it’.
    • the article has an interesting reminder – founders should be honest about the reason for failure.

Startup Association of India - CB Insights - Failure Reasons

 

UPDATE: Some of our members have been asking about legal services in ‘starting a business’ especially Mediation and Arbitration Services. One of the leading law firms in Delhi-NCR, Lex-Indis, is helping us provide the same.

One of the first questions we get asked is how to decide on legal structure when starting up. We can help with our partnerships with leading legal firms. An example is the information our friends at HSA Legal have shared on ‘starting up’. Step 1 – Structuring the Business – Decide on the structure of the business and the type of vehicle for the legal identity. Startup Association of India - Startup Legal Vehicles Source: HSA Legal Newsletter Step 2 – Obtain licenses and registrations – get the business licenses, approvals and certifications as required. We want to thank the Government of India and many State Governments for their work on ‘single window’ for new businesses and improving India’s ranking on the Ease of Doing Business scale. Step 3 – Register with Startup India – Government of India supports all businesses in the ecosystem through the Startup India Initiative. Registering with them provides additional benefits such as –

  • Income tax exemption for a period of three years
  • Tax exemption from capital gains and investments above fair market value
  • Can complete a self-declaration (for nine labor laws) within one year from the date of incorporation and get an exemption from labor inspection for a period of five years from date of incorporation
  • Provides high quality intellectual property services and resources to help start-ups protect and commercialize their IPRs and ensure that IP rights are secured and not infringed upon.

Step 3 – Raising Funds – Our funding partners can explain the various models of funding including crowdfunding, friends & family, bootstrap, VC, etc. Step 4 – Contract Management – compliance with various regulations like the Indian Contracts Act 1872. Step 5 – Ongoing Compliance (for startups) – After setup the business has to follow various regulations (eg. Labor laws, GST compliance, Companies Act 2013).

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