Who can apply
This scheme is open to all including already existing start-ups.
For existing start -ups to be eligible for the grant and other support, the firm should be an entity, either a Private Limited Company (under The Companies Act, 2013) or a Registered Partnership Firm (under The Indian Partnership Act, 1932) or a Limited Liability Partnership (under The Limited Liability Partnership Act, 2008) and should meet the following criteria:
- Incorporated or Registered in India not prior to five years from the date of application
- Annual turnover not exceeding INR 25 Crore in any of the preceding financial years
- Working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property
- Entity is not formed by splitting up, or reconstruction of a business already in existence
The start-up firm shall be eligible for tax benefits only after it has obtained certification from the Inter-Ministerial Board, set up for such purpose.
A Miniratna I PSE under MoPNG, GOI Balmer Lawrie is transnational diversified conglomerate with presence in both manufacturing and service sector. Balmer Lawrie has six business units – Logistics, Travel & vacations, Industrial Packaging, Greases & Lubricants, Leather Chemicals and Refinery & Oil Field Services.