Startup India Seed Fund Scheme

The Startup India Seed Fund Scheme addresses the gap before angel and venture money becomes available, when a startup has an idea but no proof of concept and no assets to borrow against. It is disbursed through eligible incubators, and Bhau runs the call for its own focus areas: IoT and AI using IoT, cyber security, agri-tech, healthcare technologies, EV and smart mobility, grassroots innovation and renewable energy. Its page says the call is open.

What you get

• Financial assistance for proof of concept, prototype development, product trials, market entry and commercialization
• Support can be taken as a grant and as debt or convertible debentures, each once

Who can apply

• Startups recognised by DPIIT and incorporated no more than two years before applying
• The idea must be for a product or service with market fit, viable commercialization and room to scale, with technology at the core of the product, service, business model, distribution model or methodology
• Indian promoters must hold at least 51 percent at the time of applying to the incubator
• You must not have taken more than the scheme's stated ceiling of monetary support under any other central or state scheme, excluding competition prize money, subsidised workspace, a founder allowance, and access to labs or prototyping facilities
• Preference goes to startups working on social impact, waste and water management, financial inclusion, education, agriculture, food processing, biotechnology, healthcare, energy, mobility, defence, space, railways, oil and gas, and textiles

How to apply: apply through the national Startup India seed fund portal linked from the programme page, after getting DPIIT recognition. The guidelines book is downloadable there, and the institute answers questions on its seed fund inbox, sisfs.bhau@coep.ac.in.