₹28L – ₹1.1Cr
Exim Bank initiative identifying future export champions and supporting them with equity, debt and technical assistance.
The Ubharte Sitaare Programme (USP) by Export-Import Bank of India identifies Indian companies that are future champions with good export potential. It supports companies with differentiated technology, products or processes through a mix of equity, debt and technical assistance — even if currently underperforming or unable to tap latent potential.
The Ubharte Sitaare Programme (USP) — Hindi for "Rising Stars" — is a flagship initiative of the Export-Import Bank of India (Exim Bank) built around a simple but powerful insight: India has hundreds of companies with genuinely world-class technology, products, or manufacturing processes that never reach global markets because they lack the capital, connections, and market intelligence to make the leap.
These are not failing companies. They are often profitable, technically sound, and well-regarded domestically. The problem is structural — export entry requires upfront investment in certifications, product adaptation, overseas sales infrastructure, and regulatory compliance that most small and mid-sized Indian companies cannot finance from operations alone. Traditional bank credit doesn't cover it. Venture capital isn't designed for it. And government grant schemes rarely move fast enough or deep enough to make a real difference.
USP was designed to fill exactly this gap. Exim Bank — India's premier export finance institution, set up by an Act of Parliament under the Ministry of Finance — brings to the programme three things that no other funder in this space combines: patient equity capital, export-specific debt products, and decades of on-the-ground market intelligence across 50+ countries.
How the programme works
USP does not operate like a typical grant scheme with a fixed call and a disbursement. It functions more like a structured investment programme with an operational co-pilot. Once a company is identified and selected, Exim Bank invests via equity or equity-linked instruments and simultaneously activates a tailored package of debt and technical assistance. The mix — how much equity, how much debt, what technical assistance — is determined company by company based on a diagnostic of the specific barriers holding back that company's export growth.
This diagnostic approach is what distinguishes USP from every other programme in its category. Before capital is deployed, Exim Bank's sector teams assess the company's technology, financials, management bandwidth, and target market fit. A Techno Economic Viability (TEV) study may be commissioned. The result is an investment thesis specific to that company — not a one-size cheque.
Implementation through ecosystem partners
USP is implemented nationally through a network of incubators, accelerators, and technology institutions that Exim Bank has empanelled as implementation partners. FITT (Foundation for Innovation and Technology Transfer) at IIT Delhi is one of these partners, and runs its own cohort calls for startups within the FITT ecosystem. The FITT cohort focuses specifically on the equity and equity-linked investment component, with ticket sizes of ₹27.5 lakh to ₹1.1 crore per company.
This partnership model means that startups applying through FITT benefit from two layers of support: FITT's own incubation infrastructure, mentorship network, and IIT Delhi's research ecosystem — and Exim Bank's export finance expertise, global office network, and market development capabilities. It is a rare combination of deep-tech credibility and export market muscle.
Who this is for
USP is not designed for pre-revenue startups or companies that are still figuring out their product-market fit domestically. The programme targets companies that have already built something real — a defensible technology, a manufacturing process with cost or quality advantages, a product that has proven itself in the Indian market — and are now ready to take that to the world but need financial firepower and strategic support to do so.
If your company has a product that could compete globally but you have been held back by the cost of international certifications, the capital intensity of setting up overseas distribution, or the complexity of adapting your product to foreign regulatory requirements — this programme was built for you.
India's share of global exports remains below its potential despite a large and diverse manufacturing base. A key bottleneck is that many small and mid-sized companies with genuinely differentiated products or processes lack the capital and market access advisory needed to compete internationally. They may have strong technology, but insufficient working capital to pursue overseas certifications, adapt products to foreign standards, or sustain a sales push in new geographies.
Exim Bank launched the Ubharte Sitaare Programme to address exactly this gap. Drawing on its decades of export finance expertise, Exim Bank positions USP as a "venture arm for exporters" — taking equity stakes or equity-linked positions in high-potential companies while simultaneously providing the debt and technical support that traditional venture capital does not offer.
The programme takes its name from the Hindi phrase for rising stars, reflecting its mission to spot companies before they peak and help them grow into internationally recognised brands.
Entity & Registration
Financials & Size
Product / Technology
Sector Focus Priority sectors — companies outside these may still be considered on merit if export potential is strong:
Selected companies receive a three-pronged support package:
1. Equity / Equity-Linked Capital Exim Bank invests via equity shares, compulsorily convertible instruments, or other equity-linked structures. Through implementation partners like FITT, IIT Delhi, the ticket size is ₹27.5 lakh to ₹1.1 crore per company. This is non-dilutive in the traditional sense — Exim Bank is a patient, mission-driven investor focused on export outcomes rather than short-term returns.
2. Debt Support Term loans for capital expenditure including: modernisation and technology upgradation; capacity expansion; R&D investments; balancing of production facilities; machinery and equipment; tools, jigs and fixtures; testing and quality control equipment; and land and building. Both funded (direct disbursement) and non-funded (guarantees, letters of credit) instruments are available.
3. Technical Assistance (TA) TA grants or subsidised support cover: product adaptation and improvement for target export markets; cost of international certifications (CE, FDA, BIS, ISO, etc.); training expenses for staff; market development activities including overseas travel for product demonstrations and buyer meetings; Techno Economic Viability (TEV) studies; and sector, market, and regulatory landscape studies. TA is also extended on a case-to-case basis to academic institutions, incubation centres, and research institutes that foster export-oriented entrepreneurship.
Applications are evaluated on the following dimensions:
Export Readiness — Does the product or service have clear, demonstrated demand in international markets? Does the company have an existing export track record or a credible first-export plan?
Technology / Product Differentiation — Is there a genuine competitive advantage (proprietary technology, unique process, IP, design) that would help the company win in global markets against established competitors?
Financial Soundness — Are the company's financials stable enough to absorb investment and service any debt? Is the business model viable at scale?
Management Capability — Does the founding/leadership team have the bandwidth, domain expertise, and execution track record to pursue international growth?
Scalability & Impact — What is the realistic export potential over 3–5 years? Can Exim Bank's support create a measurable improvement in the company's export trajectory?
Shortlisted companies may be asked to present to Exim Bank's investment committee and undergo a Techno Economic Viability (TEV) assessment.
The programme operates through a hub-and-spoke model. Exim Bank is the central funder and policy owner; implementation partners (incubators and accelerators such as FITT, IIT Delhi) run intake cohorts, conduct initial screening, and provide local handholding support.
Stage 1 — Identification: Implementation partners like FITT invite applications from their ecosystem. Exim Bank regional offices also directly scout companies with export potential.
Stage 2 — Screening: Applications are reviewed for eligibility and fit. Shortlisted companies are invited for a detailed discussion.
Stage 3 — Due Diligence: Exim Bank conducts financial, legal, and technical due diligence. A TEV study may be commissioned for manufacturing-heavy proposals.
Stage 4 — Investment Committee: The investment structure (equity vs. equity-linked instrument, ticket size, terms) is presented to Exim Bank's committee for approval.
Stage 5 — Disbursement & Support: Post-approval, capital is disbursed per the agreed schedule. Technical assistance engagements are activated in parallel — covering certifications, market development, and advisory.
After selection and investment, Exim Bank remains an active partner rather than a passive investor. Selected companies can expect:
USP (Ubharte Sitaare Programme) is an Exim Bank initiative that identifies and supports Indian companies with strong export potential through a mix of equity, debt, and technical assistance. It targets small and mid-sized companies with differentiated technology, products, or processes.
The FITT, IIT Delhi cohort call offers equity or equity-linked investments between ₹27.5 lakh and ₹1.1 crore per company. This is not a grant — Exim Bank takes an equity or equity-linked stake in the company.
Yes. The FITT, IIT Delhi cohort call is restricted to startups that are active incubatees or participants in a FITT acceleration programme. If you are not yet in the FITT ecosystem, you cannot apply through this cohort.
The programme requires applicants to be either a DPIIT-recognized startup OR a registered MSME (Udyam). At least one of these registrations is a hard eligibility requirement.
Yes. The funding is structured as equity or equity-linked instruments (e.g., compulsorily convertible debentures). Exim Bank will hold a stake in your company. This is not a grant or a loan — it is investment capital.
Priority sectors include Automobiles and Auto Components, Aerospace, Capital Goods, Chemicals, Defence, Food Processing, IT & ITeS, Machinery, Pharmaceuticals, Precision Engineering, and Textiles. Companies in adjacent sectors with strong export potential are also considered.
The current FITT cohort call closes on 10 July 2026 at 11:59 PM IST. Applications must be submitted via the FITT-Accubate portal before this deadline.
Yes. The programme targets small and mid-sized companies with an annual turnover of up to approximately INR 500 crore. Very large companies are outside the programme scope.
Technical assistance covers product adaptation for export markets, international certifications (CE, FDA, ISO, etc.), staff training, overseas market development travel, TEV studies, and sector or regulatory landscape research. TA may also be extended to incubation centres and research institutes.
Yes. Prior funding does not disqualify you. Exim Bank is a co-investor, not a lead-only investor. You should however disclose your cap table and any existing investor rights that may affect Exim Bank's equity position.