SCHEME
The Startup India Seed Fund Scheme (SISFS) is an initiative of the Government of India to provide crucial early-stage financial support to startups for proof of concept, prototype development, product trials, market entry, and commercialization.
Scheme
Overview
The Startup India Seed Fund Scheme (SISFS) is an initiative of the Government of India to provide crucial early-stage financial support to startups for proof of concept, prototype development, product trials, market entry, and commercialization. The scheme addresses the funding gap faced by startups before they become eligible for angel or venture capital investments. Funds are disbursed through selected incubators across India, which evaluate and support startups through a transparent process. Startups can receive grants for validation and development, and investments through debt or convertible instruments for scaling up. The scheme aims to strengthen innovation, encourage entrepreneurship, and generate employment across the country.
ELIGIBILITY
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PROCESS
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FAQ
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A startup, recognized by DPIIT, incorporated not more than 2 years ago at the time of application is to apply for the scheme. Detailed eligibility criteria can be found at https://seedfund.startupindia.gov.in/about.
Seed Fund to an eligible startup by the incubator shall be disbursed as follows:
- 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.
- Up to Rs. 50 Lakhs of investment for market entry, commercialization, or scaling up through convertible debentures or debt or debt-linked instruments
- 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."
No, individual entrepreneurs are not eligible to apply for support under the scheme. Only DPIIT recognized startups can apply for the SISFS.
An entity shall be considered a “Startup” –
- If it’s incorporated as either Private Limited Company or Registered Partnership Firm or Limited Liability Partnership. A sole proprietorship or a public limited company is not eligible as startup.
- If it is up to 10 years from the date of its incorporation/ registration
- If its turnover for any of the financial years has not exceeded INR 100 crore
- If it is working towards innovation, development or improvement of products or
processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation
The application submission is completely online, and no physical submission of documents is required.
CONTACT
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Shahil, Haneef
08047180470
shahil@startupmission.in