A start up business entity is newly registered a private limited company partnership firm or a limited liability partnership (LLP) with the following conditions : i.Turnover of the entity for any of the financial years since incorporation/ registration has not exceeded one hundred crore rupees; ii.Entity is 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 & Iii. It should not be formed by splitting up or reconstruction of an existing business.