In the Indian context, “Recognised Startups” refer to startups that have been officially acknowledged and registered under the Government of India’s Startup India initiative, launched in 2016. To qualify for this recognition, a startup must be incorporated as a private limited company, a registered partnership firm, or a limited liability partnership (LLP). Additionally, it should be less than 10 years old from the date of incorporation and maintain an annual turnover not exceeding ₹100 crore (approximately $13 million). The startup should also demonstrate a focus on innovation, development, or improvement of products, processes, or services, or have a scalable business model with high potential for employment generation or wealth creation. Recognised startups enjoy a range of benefits, including tax exemptions, simplified compliance procedures, access to funding and incubation support, expedited patent application processes, enhanced networking opportunities, and the ability to participate in government procurement programs.