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Funding

Startup India Seed Fund Scheme (SISFS) – India

Ana Isabel Paraguay
Posted October 16, 2021 from Brazil
Expires on December 30, 2022
Startup India Seed Fund Scheme banner
Startup India Seed Fund Scheme banner

Startup India Seed Fund Scheme (SISFS) aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization.

This would enable these startups to graduate to a level where they will be able to raise investments from angel investors or venture capitalists or seek loans from commercial banks or financial institutions.

Easy availability of capital is essential for entrepreneurs at the early stages of growth of an enterprise.

Funding from angel investors and venture capital firms becomes available to startups only after the proof of concept has been provided. Similarly, banks provide loans only to asset-backed applicants.

The Seed Fund will be disbursed to eligible startups through eligible incubators across India:
• Department for Promotion of Industry and Internal Trade (DPIIT): Nodal Department;
• Experts Advisory Committee: Government Representatives & Industry Experts;
• Govt assisted / Not-Govt assisted Incubators: Operational for at least 2-3 years;
• DPIIT-recognised Startups: Incorporated less than 2 years ago.

Utilize This Offer

Eligibility Criteria:
1. A startup, recognized by DPIIT, incorporated not more than 2 years ago at the time of application.
2. The startup must:
a) have a business idea to develop a product or a service with a market fit, viable commercialization, and scope of scaling;
b) be using technology in its core product or service, or business model, or distribution model, or methodology to solve the problem being targeted;
c) not have received more than Rs 10 lakh of monetary support under any other Central or State Government scheme;
d) have shareholding by Indian promoters of at least 51% at the time of application to the incubator for the scheme.

Preference would be given to startups creating innovative solutions in sectors such as social impact, waste management, water management, financial inclusion, education, agriculture, food processing, biotechnology, healthcare, energy, mobility, defence, space, railways, oil and gas, textiles, etc.

Seed Fund to an eligible startup by the incubator shall be disbursed as follows:
a) Up to Rs. 20 Lakhs as grant for validation of Proof of Concept, or prototype development, or product trials. The grant shall be disbursed in milestone-based installments. These milestones can be related to development of prototype, product testing, building a product ready for market launch, etc.
b) Up to Rs. 50 Lakhs of investment for market entry, commercialization, or scaling up through convertible debentures or debt or debt-linked instruments;
c) A startup applicant can avail seed support in the form of grant and debt / convertible debentures each once as per the guidelines of the scheme.

Deadline: Ongoing (rolling basis).

For more information, please visit https://seedfund.startupindia.gov.in/

Comments 2

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Ana Isabel Paraguay
Oct 16
Oct 16

Friendly reminders:
1. Find and analyze open and closed grants opportunities that interest you. Try to discover:
• what they have in common, and
• how you can think ahead / plan to apply = increase your chances of success!
2. Gather or update paperwork (certificates, attests, statements, resumes, etc.) and information usually required by calls such this one;
3. Write - baby steps... - and discuss a project draft, to validate within your group the priorities of the proposal(s) and to train your grant writing skills as well;
4. Do not wait to find a call and then start writing your proposal / project. Start NOW!
5. Do visit regularly the World Pulse website to make customized searches for grant opportunities. How?
a) Click on the Menu (left upper corner);
b) Type the name of your country in the search area (blank space); click enter;
c) Click on Filters;
d) Click on Resource;
e) Browse the results (opportunities) that will show up, by chronological order of posting;
6. Spread the word about your failures and achievements in grant requests. Yes, tell these stories too... They will enlighten and inspire your network;
7. Share the opportunities that do not apply to you but can interest others;
8. Instead of copying this posting in order to share it, please forward the link of this page. Hence more people will get to know World Pulse, this website and/or its Resource section.
Best regards,
Ana Isabel

Jill Langhus
Oct 18
Oct 18

Thanks, Ana.