Startup India Seed Fund
ASPIRE – UNIVERSITY OF HYDERABAD
Start-up India Seed Fund aims to provide financial assistance to start-ups for proof of concept, prototype development, product trials, market entry, and commercialization. This would enable the start-ups to graduate to a level where they will be able to raise investments from other investors or venture capitalists or seek loans from commercial banks or financial institutions. The Seed Fund will be disbursed to eligible start-ups on merits through the incubators across India.
Eligibility Criteria for Start-Ups
- A startup, recognized by DPIIT, incorporated not more than 2 years ago at the time of application.
- Startup must have a business idea to develop a product or a service with the market fit, viable commercialization, and scope of scaling.
- Startup should be using technology in its core product or service, business model, 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, defense, space, railways, oil, and gas, textiles, etc.
- 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.
- 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.