Startup India SEED FUND Scheme

Financial Assistance to Startups for Proof of Concept, Prototype Development, Product Trials, Market Entry, and Commercialization

ABOUT THE Startup India seed fund scheme

The Startup India Seed Fund Scheme is a flagship initiative by the Government of India aimed at fostering Innovation & supporting the growth of startups across the country. Launched as part of the broader Startup India initiative, this scheme provides financial assistance to early-stage startups, particularly those with innovative ideas & high growth potential. Under this scheme startup can receive funding in the form of seed capital, which crucial in the initial stages of their development. The funds aims to bridge gap between development & commercialization by providing funding support for prototype development, proof of concept, product trials, market entry & scaling up operations. Additionally the scheme offers mentorship, access to networks & other resources essential for startup growth. By nurturing the startup ecosystem, the startup India Seed Fund Scheme seeks to catalyze entrepreneurship, promote job creation & contribute to economic growth & innovation in India.

Objectives SISFS

Many innovative business ideas fail to take off due to the absence of this critical capital required at an early stage for proof of concept, prototype development, product trials, market entry and commercialization.
Seed fund offered to such promising cases can have a multiplier effect in validation of business ideas of many startups, leading to employment generation.

Funding SISFS

Up to INR 20 Lakhs in Grant & Up to INR 50 Lakhs in Debt/Convertible Debenture

Duration SISFS

12 months for Grant and 3 years moratorium period for Debt/Convertible Debenture

Eligibility SISFS

A startup, recognized by DPIIT, incorporated not more than 2 years ago at the time of application.
The startup must have a business idea to develop a product or a service with market fit, viable commercialization, and scope of scaling.
Startups should be using technology in their core product or service, business model, distribution model, or methodology to solve the problem being targeted.
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.

Thematic Area: SISFS

healthcare sjkjsa

Healthcare

chip (1)

Agri Tech

bioinformatics (2)

Biotechnology

waste (4)

Waste Management

renewable-energy (2)

Clean Tech

manufacture

Food Processing

welfare (2)

Social Impact

connected-car

Mobility

Impacts: Sisfs

Startups Onboarded

Funds Mobilized

Product Commercialised

Investment RAised

Employment Generated

TImeline: Sisfs

Application Window

Startup India Seed Fund Scheme accepts applications throughout the year through the online portal across various thematic areas.

Eligibility Check
(0-15 Days)

Shortlisting applicants as per the Startup India Seed Fund Scheme Criteria

Preliminary Screening
(15-30 Days)

Shortlisting of eligible applicants for presentation before iSMC based on evaluation criteria as per SISFS guideline

iSMC Round
(30-45 days)

Selection of final cohort of the iSMC round as per expert's recommendation

Sisfs: Grantees

Sisfs: Success Stories

Faq: Sisfs

Startup India Seed Fund Scheme (SISFS) provides financial assistance to startups for proof of concept, prototype development, product trials, market-entry, and commercialization. Eligible startups can apply for the scheme on the Startup India portal. The Seed Fund will be disbursed to selected startups through eligible incubators across India.

A startup, recognized by DPIIT, incorporated not more than 2 years ago at the time of application is invited to apply for the scheme. Detailed eligibility criteria can be found at https://seedfund.startupindia.gov.in/about.
To get DPIIT-recognized, please visit https://www.startupindia.gov.in/content/sih/en/startupgov/startup-recognition-page.html

SISFS is a sector agnostic scheme, which means that startups from any sector can apply for the scheme. However, 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, defense, space, railways, oil and gas, textiles, etc. This list of sectors is indicative and not exhaustive.

The incubator preference should be filled at the startup applicants’ discretion. Applicants can choose incubators basis their sector, stage, business needs, and strategic goals. Details of the incubators which are part of the scheme will be available on Seed Fund Portal soon.

The startups shall be selected through an open, transparent and fair process, comprising, inter-alia:

  • Startups submit their application on the Startup India portal and an email confirmation is shared with them. Applicants can apply for seed fund to any three incubators selected as disbursing partners for this scheme in order of their preference.
  • All applications received will be shared online with respective incubators for further evaluation.
  • For all incomplete applications, a prompt of resubmission will be sent to the startup.
  • The incubators shall shortlist applicants as per eligibility criteria
  • Eligible applications will be evaluated by Incubator Seed Management Committee (ISMC) using the following criteria:
    Criteria Details Weightage (%)
  1. Is there a need for this Idea? Market size, what market gap is it filling, does it solve a real-world problem? 
  2. Feasibility Feasibility and reasonability of the technical claims, methodology used/ to be used for PoC and validation, roadmap for product development 
  3. Potential Impact Customer demographic & the technology’s effect on these, national importance (if any) 
  4. Novelty USP of the technology, associated IP
  5. Team Strength of the team, Technical and business expertise 
  6. Fund Utilization Plan Roadmap of money utilization 
  7. Additional Parameters Any additional parameters considered appropriate by incubator 
  8. Presentation USP of the technology, associated IP Overall assessment
  • Incubator may shortlist applicants based on their evaluation for a presentation before ISMC
  • ISMC shall evaluate applicants based on their submissions and presentations and select startups for Seed Fund within 45 days of receipt of application
  • Selected startups shall receive seed funding under the respective incubator that selects them as beneficiaries as per their preference shared during application (for example, if incubators at Preference 1 and Preference 2 both select a startup, the funding shall be given by Preference 1 incubator. If Preference 1 incubator rejects and Preference 2 incubator selects, the funding shall be given by incubator at Preference 2, and so on.)
  • All applicants will be able to track the progress of their application on the Startup India portal on a real-time basis
  • Applicants who are rejected will also be notified through email




Coordinators

Mr. Ray Saisoubhagya

Subarna Patnaik

Location

KIIT-Technology Business Incubator

Campus 11, KIIT-DU, Bhubaneswar, Odisha, IN 751024