Startup India Seed Fund Scheme
• The purpose of SISFS is to provide early life funding including seed fund to support ideation and development of early-stage startups
• Total corpus of the scheme is ₹ 945 crores
• The SISFS is operationalized through incubators across India, which in turn invest into early-stage startups
Startup India Seed Fund Scheme Operationalisation
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DPIIT (Nodal Department)
Expert Advisory Committee (EAC) constituted by DPIIT to evaluate and select Incubators
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Incubators (Govt Funded / Private incubators operational for at least 2-3 years)
EAC select incubators based on strict evaluation criteria and monitor them
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Experts Advisory Committee (Govt Representatives & Industry Experts)
Incubators shall form Incubator Seed Management Committee (ISMC) to evaluate, select, and monitor startups
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Startups (DPIIT-recognized startup incorporated less than 2 years ago)
Progress of selected startups tracked by incubators and Startup India
Startup India Seed Fund Scheme Operationalisation: Selection of Incubators
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Call for Applications for Incubators
Online Applications are invited from incubators on an ongoing basis
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Incubator Selection by EAC
Executive Advisory Committee selects Incubators through strict selection criteria
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Fund Allocation to Incubator
Grant of up to Rs. 5 (five) crore is provided to selected incubators in milestone-based three (or more) installments
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Review of Incubators’ Performance by EAC
Incubators are reviewed on a quarterly basis on utilization of fund, progress of selected startups, etc.
Startup India Seed Fund Scheme Operationalization: Selection of Startups by Incubators
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Call for Applications for Startups
Online Applications invited from startups across India on an ongoing basis
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Startup Selection by ISMC
Incubator Seed Management Committee (ISMC) in incubators, independently select startups
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Fund Allocation to Startup
Selected startups receive a grant or convertible debentures/debt investment
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Review of Startups’ Performance
Startups submit interim progress update and utilization certificate to incubator on a regular basis
Startup India Seed Fund Scheme Type and Quantum of Fund
• Grant of up to ₹ 5 Cr
• Provided in 3 (or more) tranches. Quantum of first installment may be up to 40% of total approved commitment
• Next tranche may be requested when cashin-hand of incubator goes below 10%
• Not more than 20% of total grant to incubator shall be given as grants to startups
• Grant of up to Rs. 20 Lakhs (milestonebased) to conduct Proof of Concept
• Convertible Debentures or Debt linked investment of up to Rs. 50 Lakhs for startups looking for commercialization or scale-up support
Startup India Seed Fund Scheme Guidelines Eligibility Criteria for Startups
• A startup, recognized by DPIIT incorporated not more than 2 years ago at time of application
• Startup must have a business idea to develop a product or a service with market fit, viable commercialization, and scope of scaling
• Startup should be using technology in its core product or service, or business model, or distribution model, or methodology to solve problem being targeted
• Preference would be given to sectors such as social impact, waste management, water, education, healthcare, energy, mobility, etc.
Startup India Seed Fund Scheme Guidelines Eligibility Criteria for Startups
• Should not have received more than Rs 10 lakh of monetary support under other Central or State scheme (not including subsidized working space, founder monthly allowance, prize money from competitions, etc.)
• Shareholding by Indian promoters should be at least 51%
• Any startup will not receive seed support more than once each through Grant & Debt/Equity instruments
Startup India Seed Fund Scheme Guidelines Success metrics for supported Startups
For all beneficiary startups, incubators shall track:
• Progress of proof of concept
• Progress of prototype development
• Progress of product development
• Progress of field trials
• Progress of market launch
• Quantum of loan, angel or VC funding raised
• Jobs created by startups
• Turnover of startups
• Any other appropriate parameter
List of Incubators already selected from Uttar Pradesh
| Sr.No. |
City Name |
Incubator Registered Name |
Incubator Name/Brand Name |
|
1.
|
Noida
|
IIM Lucknow Enterprise Incubation Centre
|
IIM Lucknow Enterprise Incubation Centre
|
|
2.
|
Kanpur
|
Foundation for Innovation & Research in Science & Technology
|
Startup Incubation and Innovation Centre IIT Kanpur
|
|
3.
|
Gautam Buddha Nagar
|
JSSATE Science and Technology Entrepreneurs Park
|
JSSATE STEP
|
|
4.
|
Gautam Buddha Nagar
|
Shiv Nadar AIC Research Foundation
|
Shiv Nadar AIC Research Foundation
|
|
5.
|
Noida
|
Amity Technology Incubator
|
Amity Innovation Incubator
|
|
6.
|
Gautam Buddha Nagar
|
Atal Incubation Centre- BIMTECH
|
Atal Incubation Centre – BIMTECH
|
|
7.
|
Noida
|
Kurativz Technologies And
Consultation Service Private LImited
|
Kurativz Accelerate
|
|
8.
|
Ghaziabad
|
C3 COLLABORATE AND CREATE
CHANGE
|
STEP (Shakti-The Empathy Project)
|
