How Apply For Startup India Seed Fund Scheme/ Non Refundable Grant upto 20 lakhs, Debt upto 50
How Apply For Startup India Seed Fund Scheme/ Non Refundable Grant upto 20 lakhs, Debt upto 50
official website for apply https://seedfund.startupindia.gov.in/...
FAQ-Frequently Asked Questions
1-What is Startup India Seed Fund Scheme?
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.
2-Who can apply to SISFS?
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/....
To get DPIIT-recognized, please visit https://www.startupindia.gov.in/conte...
3-How much seed funding can a startup receive under the scheme?
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
4-Can I apply for the scheme as an individual entrepreneur, or do I need a team?
No, individual entrepreneurs are not eligible to apply for support under the scheme. Only DPIIT recognized startups can apply for the SISFS. To get DPIIT-recognized, please visit https://www.startupindia.gov.in/conte...
5-Does the scheme support startups from specific sectors?
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.
6-Are there any minimum education qualification criteria for founders to apply for SISFS?
There is no minimum education qualification required for founders to apply for SISFS
7-Are there any exemptions to any of the eligibility criteria?
No, there are no exemptions to any of the eligibility criteria. All the criteria must be met on the date of application submission.
8-What is a DPIIT-recognized startup?
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
Should not have been formed by splitting up or reconstruction of a business already in existence.
To get DPIIT-recognized, please visit
https://www.startupindia.gov.in/conte...
9-What all can I use the seed fund for?
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. A grant can be used for validation of Proof of Concept, or prototype development, or product trials. A debt/ convertible debenture can be used for Market entry, Commercialization, or Scaling up.
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