About the Policy:

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With an initiative to spur entrepreneurship across India, Startup India Seed Fund Scheme (SISFS) aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization.

Under SISFS, DPIIT grants funding up to INR 525 Lakh to selected Incubators for disbursement to the startups as Grant Fund and Debt Fund.

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Implementing Body:

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Department of Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India.

 

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Financial assistance: 

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• Upto INR 50 Lakh of funding support in form of debt instruments. 

• Grant upto INR 20 Lakh. 

 

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Eligibility Criteria: 

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• A startup, recognized by DPIIT, should not be incorporated more than 2 years ago at the time of application. 

• The startup must have a business idea to develop a product or a service with a market fit, viable commercialization, and scope of scaling.

• The 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.

• Preference would be given to startups creating innovative solutions in sectors such as social impact, waste management, water management, financial inclusion, education, agriculture, food processing, biotechnology, healthcare, energy, mobility, defence, space, railways, oil and gas, textiles, etc.

• The startup should not have received more than INR 10 Lakh of monetary support under any other Central or State Government scheme. 

• Shareholding by Indian promoters in the startup should be at least 51% at the time of application to the incubator for the scheme, as per Companies Act, 2013 and SEBI (ICDR) Regulations, 2018.

• A startup applicant can avail seed support in the form of grant and debt/convertible debentures each once as per the guidelines of the scheme.

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