Startup India Seed Fund Scheme (SISFS)
A programme by Vel Tech Technology Business Incubator (Vel Tech TBI)
Vel Tech TBI disburses DPIIT's seed fund to DPIIT-recognised startups under two years old, as grant and as convertible debenture.
At a glance
| Best for | DPIIT-recognised startups incorporated less than two years ago |
|---|---|
| Stage | Prototype – Early revenue |
| Format | In person |
| Cost | Free |
| Grant support | For selected startups. A place in the programme does not by itself guarantee a grant. |
| Run with | Department for Promotion of Industry and Internal Trade (DPIIT) |
About Startup India Seed Fund Scheme (SISFS)
The Startup India Seed Fund Scheme is DPIIT's seed fund, disbursed to startups through incubators it has selected. Vel Tech TBI has run it since 2021, with a senior manager and an inbox of its own, and publishes a seed fund application guide. Money comes in two forms, grant and convertible debenture, and covers proof of concept through commercialisation. No dated call is published, so ask before you build an application.
What you get
- Financial assistance for proof of concept, prototype development, product trials, market entry and commercialisation, as grant and as convertible debenture
- Strategic partner offerings including Google Cloud credits, Zoho apps, bank accounts with RBL, Bank of Baroda and DBS, Paytm, Resileo Labs, YNOS Venture Engine, Effitrac, Stanford Seed Spark, Wadhwani Foundation and MathWorks
- Marketing, training and workshops with Sri Ramachandra Hospital and Kauvery Hospital
Who can apply
- A startup recognised by DPIIT, incorporated not more than two years ago at the time of application
- A business idea for a product or service with market fit, viable commercialisation and scope to scale
- Technology in the core product, service, business model, distribution model or methodology
- Not having taken more than a stated ceiling of monetary support under any other central or state government scheme. Prize money, subsidised working space, a founder monthly allowance, lab access and prototyping access do not count against it.
- Indian promoters holding at least 51 per cent at the time of application
How selection works: preference goes to startups solving problems in social impact, waste management, water management, financial inclusion, education, agriculture, food processing, biotechnology, healthcare, energy, mobility, defence, space, railways, oil and gas, and textiles.
How to apply: contact the SISFS senior manager at sisfs@veltech.edu.in. The incubator's page also links a seed fund application guide.
Where to apply
Other Vel Tech Technology Business Incubator (Vel Tech TBI) programmes
- Startup incubation at Vel Tech TBIThe incubator's main route in, giving startups space, mentoring, training and access to its workshops, with no incubation charge stated.
- NIDHI PRAYASDST's idea-to-prototype grant, run here as a PRAYAS centre with its own fab lab. The Year 5 call is closed.
- NIDHI Seed Support SystemDST seed funding for startups already incubated here for at least three months, to build, test and launch a product.
- MeitY TIDE 2.0Vel Tech TBI is an approved TIDE 2.0 centre, with two twelve-month routes for ICT founders under 35: Entrepreneur-in-Residence and Grant.
- Innovation Voucher Programme (EDII-TN)A Tamil Nadu government voucher scheme for manufacturing MSMEs, with Vel Tech TBI as knowledge partner. Written for the 2024-25 round.
Everything about Vel Tech Technology Business Incubator (Vel Tech TBI)