Criteria for Startups

All Startups fulfilling the following terms and conditions will be approved and notified as well as published on the portal

The company/entity be registered in Haryana under the Haryana Shops and Commercial Establishment Act, 1958 ; and

  1. Employment: The company employs at least 50 (fifty) per cent of its total qualified workforce in Haryana, which shall not include contract employees

Exit Conditions

  1. If the company is found guilty on any charges of fraud or if the company is found to have made any false declarations to claim any benefits from or derived under this policy. Legal action shall be initiated to recover all financial assistance provided to such an entity.

  2. Once an entity ceases to be recognized as a start-up; the Government or entity through which the Government makes its investment will be eligible to exit its investment in the start-up and guidelines for exit will be framed for channelizing investments into the startup

A Startup recognized by DIPP and fulfilling the above mentioned eligibility criteria may avail the financial incentives under this Policy.

Proof of Innovation

  • DIPP Startup India recognition certificate; OR
  • Startup has a patent filed in the entity name and published in the Journal by the India Patent Office in areas affiliated with the nature of business being promoted; OR
  • Sanction Letter of funding / grant to the entity by Government of India or any State Government as part of any specified scheme to promote innovation; OR
  • Letter of funding of not less than 20 percent in equity by any Incubation Fund/ Angel Fund/ Private Equity Fund/ Accelerator/ Angel Network duly registered with Securities and Exchange Board of India that endorses innovative nature of the business; OR
  • If an entity does not possess any of the above mentioned four documents, it may submit a one page write-up / note explaining the innovative nature of its product. The applicant entity is encouraged to share its business plan along with the note on innovation

Criteria for Incubator Recognition

All incubators fulfilling the following terms and conditions will be approved and notified as well as published on the portal.

  1. The incubator would be required to provide the requisite physical infrastructure such as workshop facilities, support services and utilities along with networking and mentoring within a period of six months from the date of release of capital grant and other benefits.

  2. The incubator will be headed by a full time Chief Executive Officer who will possess sufficient management expertise and will be supported by a core team/support staff for successful and efficient functioning of the incubator. These posts should be filled within two months of the date of release of funds.

  3. The incubator will create a transparent system for selection of incubatees. The incubatees would only be admitted if they fulfill the admission criteria and an appropriate agreement is entered into by the incubator and the incubatee.

  4. Each incubator will have a website of its own, which will be updated on a continuous basis.

  5. The grantee is required to send an online progress report; and an audited statements of accounts and Balance Sheets to the Committee at the end of each financial year as well as at the time of seeking further installments of the grant, if any. However, companies and individuals would be required to submit a yearly expenditure statement for the full amount (including their own contribution) to ensure that matching funding is received.

  6. The incubator will be reviewed quarterly both for financial and physical (infrastructural) performance.

  7. Officers of the Committee/ Government may visit the organization periodically to monitor the progress of work and resolving any difficulties that might be encountered during the course of implementation.

  8. Government/ Committee reserves the right to terminate support to the incubator at any stage, if it is convinced that the grant is not being utilized properly for the purpose for which it has been released.

  9. All assets acquired and created from the grant will be entered and maintained in a separate register and should not be disposed of or encumbered or utilized for purpose other than those for which the grant has been sanctioned without the prior permission of the Committee.

  10. The grantee must not entrust the implementation of the work for which the grant is being sanctioned to another institution and divert the grant receipts as assistance to the latter institution.