Startup India Seed Fund Scheme (SISFS)
Posted 01/04/2023
| Description | 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.1,000 crores approx, however The reserved fund for the Startup India Seed Fund initiative, as per the Union Budget of 2022 is Rs 283.5 crore, which is higher than the revised estimate of around Rs 100 crore for the year 2021-22 |
| Provider Type Central Govt / State Govt / Private Sector | Central Govt |
| Provider Name | Department for Promotion of Industry and Internal Trade. |
| Amount | 1. 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. 2. Up to Rs. 50 Lakhs of investment for market entry, commercialization, or scaling up through convertible debentures or debt or debt-linked instruments |
| Grant Conditions & Qualifying Criteria | There is no minimum education qualification required for founders to apply for SISFS. However the conditions are as follows: A startup, recognized by DPIIT, incorporated not more than 2 years ago at the time of application 2. Startup must have a business idea to develop a product or a service with market fit, viable commercialization, and scope of scaling 3. Startup should be using technology in its core product or service, or business model, or distribution model, or methodology to solve the problem being targeted 4. 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. 5. Startup should not have received more than Rs 10 lakh of monetary support under any other Central or State Government scheme. This does not include prize money from competitions and grand challenges, subsidized working space, founder monthly allowance, access to labs, or access to prototyping facility 6. Shareholding by Indian promoters in the startup should be at least 51% at the time of application to incubator for the scheme, as per Companies Act, 2013 and SEBI (ICDR) Regulations, 2018 7. Any startup will not receive seed support more than once each as per provisions of para 8.1 (i) and 8.1 (ii) respectively |
| Focus Sector (Healthcare, Defense, Agriculture, etc.) | |
| Provider Contact Email | NA |
| Provider Website URL | https://seedfund.startupindia.gov.in/contact |
| Type of funding (Grant, Loan or Equity) | Grant |
| Process | NA |
| Tips for Winning | NA |
| Provider Indian State | NA |
| Provider Contact Address | |
| Is Active | "Yes" |
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