Vardhan Tax

DIPP recognition · DIPP122215

FINSTACK INNOVATIONS PRIVATE LIMITED

Business Finance · Bengaluru Urban, Karnataka · Private Limited Company

Finance TechnologyBusiness Finance

Recognition fact sheet

Entity name
FINSTACK INNOVATIONS PRIVATE LIMITED
DIPP number
DIPP122215
Entity type
Private Limited Company
Industry
Finance Technology
Sector
Business Finance
Location
Bengaluru Urban, Karnataka

Value proposition

  • The value propositions for lenders to adopt digitisation are: 1. Reduction in operational expenditure due to reduction of paperwork and the need for the borrower to visit the lender physically. 2. Reduction in turn around time for disbursing a loan - due to the cumbersome process of arranging documents for KYC, Bureau reports etc and then manually underwriting the file, the disbursement of a loan could take weeks - through digitisation this can be done in a matter of minutes. 3. Scalability - With FinStack - a credit risk manager himself could configure the underwriting engine to be able to underwrite thousands of applications in a single day - reducing scope for manual errors and reduction in manual operations. 4. Ability to underwrite new to credit (bureau thin) customers using alternate data sources such as bank statements. To implement the same inhouse, a lender will have to expend approximately INR 60-60L annually while FinStack can do so in 1/5th of that cost.

Incubator / host organisation

MITPUNE TECHNOLOGY BUSINESS INCUBATOR

Steps to get DPIIT startup recognition

A practical end-to-end map from incorporation to your DIPP number — the same recognition shown on profiles in this directory. Timelines vary by sector and document readiness; use this as a checklist, not a government processing guarantee.

  1. Incorporate your venture

    Register a private limited company, LLP, or partnership firm with MCA. Collect your CIN/LLPIN, PAN, and basic KYC — these are referenced throughout the Startup India journey.

  2. Create your Startup India profile

    Sign up on the Startup India portal with your business email. Complete the organisation profile, authorised representative details, and link your registered entity.

  3. File the DPIIT recognition application

    Choose “Startup Recognition”, describe your product or service, sector, and how you use technology. Upload incorporation documents, brief pitch deck or note, and supporting declarations.

  4. Department review & clarifications

    DPIIT may request clarifications on scalability, innovation, or documentation. Respond promptly through the portal — delays here are the most common reason recognition timelines stretch.

  5. Receive DPIIT recognition (DIPP number)

    Once approved, download your recognition certificate and note your DIPP number. You can then access Startup India benefits, incubator programmes, and schemes such as SISFS (subject to each scheme’s rules).

  6. Plan compliance & growth milestones

    Align GST, labour, and sector licences with your stage. If you are pursuing seed funding, keep proof-of-concept milestones documented — incubators evaluate traction alongside your recognition status.

Official recognition is granted only through Startup India (DPIIT). Vardhan Tax can help with incorporation and compliance around your application — not with government approval itself.

Startup India Seed Fund Scheme (SISFS) — how much funding is available?

DPIIT-recognised startups may apply for the Startup India Seed Fund Scheme through eligible incubators (not directly as individuals). Amounts and eligibility are set by government guidelines — always confirm the latest rules on the official portal.

Grant component

Up to ₹20 lakh

Proof of concept · prototype · product trials

  • Milestone-based grant instalments (prototype, testing, market-ready product)
  • Typically used for proof of concept and product trials
  • No equity dilution for the grant component

Investment component

Up to ₹50 lakh

Market entry · commercialisation · scale-up

  • For market entry, commercialisation, or early scaling
  • Structured as convertible debentures, debt, or debt-linked instruments
  • Evaluated by the incubator alongside your traction and business plan

Common eligibility themes (summary)

  • DPIIT recognition and incorporation within the scheme's age window at application time
  • Technology-led product or service with commercialisation potential
  • Limits on prior central/state monetary support (excluding certain prizes and facilities)
  • Applications routed through incubators on the Startup India seed fund portal

Sources: SISFS overview (https://seedfund.startupindia.gov.in/about) · Official FAQ (https://seedfund.startupindia.gov.in/faq)

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Frequently asked questions

FINSTACK INNOVATIONS PRIVATE LIMITED is listed with DPIIT recognition number DIPP122215. It operates in the Business Finance sector and is based in Bengaluru Urban, Karnataka.
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