Venture Center is hosting the Startup India Seed Fund Scheme (SISFS), offering financial assistance for proof of concept, prototype development, and market entry.
This support aims to propel startups to a stage where they can attract investments from angel investors or venture capitalists, or seek loans from financial institutions, with options to avail grants (up to Rs. 20 Lakhs) and Convertible Debentures (up to Rs. 50 Lakhs) under the SISFS scheme.
Eligibility criteria
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A startup, recognized by DPIIT, incorporated not more than 2 years ago at the time of application
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Startup must have a business idea to develop a product or a service with market fit, viable commercialization, and scope of scaling
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Startup should be using technology in its core product or service, or business model, or distribution model, or methodology to solve the problem being targeted
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Startup should not have received more than Rs 10 lakh of monetary support under any other Central or State Government scheme. This does not include prize money from competitions and grand challenges, subsidized working space, founder monthly allowance, access to labs, or access to prototyping facility
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Shareholding by Indian promoters in the startup should be at least 51%