SISFS

Brief 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.

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Benefits

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
  • Seed fund shall strictly not be used by startups for creation of any facilities and shall be utilized for the purpose it has been granted for
Section
  • Social impact,
  • Waste management
  • Water management
  • Financial inclusion
  • Education
  • Agriculture
  • Food processing
  • Biotechnology
  • Healthcare
  • Energy
  • Mobility
  • Defense
  • Space
  • Railways
  • oil and gas
Objective
    • To provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization
    • Enabling 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.
Eligibility
The eligibility criteria for a startup to apply under the Startup India Seed Fund Scheme shall be as follows:
    • A startup, recognized by DPIIT, incorporated not more than 2 years ago at the time of application
    • Startup must have a business idea to develop a product or a service with market fit, viable commercialization, and scope of scaling
    • 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
    • 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.
    • 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
    • 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
Call For Application
    • Click here to apply
    • Application are open round the year and selections are made on rolling basis.
    • Email: email@seedfund.com

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TIDES: TIDES Business Incubator, Hafiz Ibrahim Building, IIT-Roorkee, Uttarakhand - 247667

TIDES: TIDES, Bio Incubator 2nd & 3rd Floor, Multi-activity Center, IIT Roorkee 247667

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TIDES: TIDES Business Incubator, Plot No-20, Knowledge Park 2, IIT Roorkee, Greater Noida - 203106, India

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