An entity is known to be a startup:
- When incorporated as a private limited company (as mentioned in the Companies Act, 2013) or registered as a partnership (as per Section 59 of the Partnership Act, 1932) or a limited liability partnership (as per the Limited Liability Partnership Act, 2008) in India.
- Is not more than ten years old from the date of its incorporation/registration.
- If its revenue has not crossed INR 100 Crore for any of the financial years since its incorporation/registration.
- If it works for creativity, growth or enhancement of goods or processes or services, or if it is a flexible business model with a high potential for job creation or wealth creation.