Startup means an entity, incorporated or registered in India.
Startups defined as;
1. Not prior to seven years, however for Biotechnology Startups not prior to ten years,
2. With annual turnover not exceeding INR 25 crore in any preceding financial year,
3. Working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.
Provided that such entity is not formed by splitting up, or reconstruction, of a business already in existence and an entity shall cease to be a Startup if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 7 years and for biotechnology startups 10 years from the date of incorporation/ registration. Provided further that a Startup shall be eligible for tax benefits only after it has obtained certification from the Inter-Ministerial Board, setup for such purpose.
Kerala Startup Mission will give the membership to the companies who are registered within Kerala. KSUM also provide pre-incubation facilities to startups who are in ideation stage.
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