By a Gazette notification dated December 1, 2017, the Central Government amended sub rule (fb) under rule 2 of the Patent Rules, 2003, to clarify that a 'startup' is any entity recognized as a start up by the Startup India Initiative, and in case of a foreign entity, the criteria of startup would qualify the entity to be:
1. fulfilling the criteria for turnover (as per the reference rates of foreign currency of RBI) and,
2. period of incorporation/registration as per Startup India initiative (and submitting declaration in relation thereto).
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