FIRE, Goa

The scheme aims to direct funds to technology development and market entry, provide financial aid for scaling and commercializing TourismTech® startups, ensure responsible use of funds, enable startups to develop impactful tourism technologies and products, prioritize new applicants without prior government funding, and attract additional investments. Startups must have completed a minimum of three months of physical or virtual incubation at FiiRE™, be registered as companies in India, have Indian promoters owning at least 51% of shares, and not be Indian subsidiaries of multinational corporations or foreign companies. Funding is primarily for technology development, risk mitigation, and scaling activities, with at least 90% of funds directly contributing to core objectives.

Offers up to Rs. 20 Lakhs as a grant for validation of Proof of Concept, prototype development, or product trials, disbursed in milestone-based installments. Also, up to Rs. 50 Lakhs of investment for market entry, commercialization, or scaling up through convertible debentures or debt or debt-linked instruments. Eligible startups must be recognized by DPIIT, incorporated within the past 2 years, have a business idea with market fit, viable commercialization, and scalability, use technology in their core product/service/business model/distribution model, and not have received more than Rs 10 lakh of monetary support under other Central or State Government schemes (excluding prize money, subsidized working space, founder allowance, lab/prototyping access). Indian promoters must hold at least 51% shareholding.

The program provides funding options tailored to various stages of startup development. Participants receive guidance from industry experts and seasoned entrepreneurs and can connect with other startups, investors, and business leaders. The program also offers resources to help startups develop products and market strategies effectively.