Startup India Seed Fund Scheme (SISFS), created by the Department for Promotion of Industry and Internal Trade (DPIIT) with an outlay of Rs 945 Crore, aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization.
Amrita TBI is a partner incubator with DPIIT to implement SISFS and disburse funds to selected startups.
Amrita TBI is a non-profit startup incubator supported by Govt. of India and Amrita Vishwa Vidyapeetham that funds, mentors and nurtures ideas, startups and entrepreneurs. Virtual incubatees can operate from anywhere in India. Amrita TBI runs a scaled incubator program that incubates and accelerates startups that are in idea stages and growth stages. Amrita TBI also runs multiple programs such as Accelerator, PRAYAS for hardware startups and Entrepreneur-in-Residence with the objective to help startups scale nationally and internationally. Amrita TBI is looking for:
In 2017, Amrita TBI won the National Award for the Best Startup Incubator in India. Award was conferred by the President of India
Amrita TBI is one of the select 6 incubators that will be made world class under AIM, NITI Aayog, Govt. of India.
Amrita TBI was also listed among the Top-5 most prolific startup incubators in India by the Economic Times in 2015. Amrita TBI has incubated 208 startups and mentored more than 500 startup ideas.
CEO, NITI Aayog
Government of India
The startup must be recognized by DPIIT and should be incorporated not more than 2 years ago at the time of application. The entity must have a business idea to develop a product or a service with the market fit, viable commercialization, and scope of scaling. There should be a technology component in its core product or service, business model, distribution model, or methodology to solve the problem being targeted. We prefer 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. The startup should not have received more than Rs 10 lakhs 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 a prototyping facility. The 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 the Companies Act, 2013 and SEBI (ICDR) Regulations, 2018.No startup will receive seed support more than once.Apply Now
Up to Rs. 20 Lakhs as a grant for validation of Proof of Concept/ prototype development/product trials.
Up to Rs. 50 Lakhs of investment for market entry/ commercialization/ scaling
Up to Rs. 20 Lakhs as a grant for validation of Proof of Concept, or prototype development, or product trials. The grant shall be disbursed in milestones- based installments. These milestones can be related to the development of prototypes, product testing, building a product ready for market launch, etc. Up to Rs. 50 Lakhs of investment for market entry, commercialization, or scaling up through convertible debentures or debt or debt-linked instruments.
Incubation and co-working spaces in Kollam, Bengaluru and Coimbatore with access to 100+ cutting edge multidisciplinary labs at Amrita Vishwa Vidyapeetham.
No tax for revenue upto INR 50 lakhs per year for a period of 3 years.
Access to VCs and angel investors for scaled funding.
Amrita TBI mentorship program brings in both national mentors and international mentors from Silicon Valley & Singapore with varied experience across multiple domains and sectors.
Large pool of engineering and management students from Amrita Vishwa Vidyapeetham -India's no 1 private university.
Startup India Seed Fund Scheme (SISFS), created by the Department for Promotion of Industry and Internal Trade (DPIIT) with an outlay of Rs 945 Crore, aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization.Apply Now
Startup India Seed Fund Scheme (SISFS) provides financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialization.
A startup recognized by DPIIT, incorporated not more than two years ago at the time of application, is invited to apply for the scheme. Detailed eligibility criteria can be found at https://seedfund.startupindia.gov.in/about.
A) Up to Rs 20 Lakhs as a grant for the validation of Proof of concept, prototype development, or product trials.
B) Up to Rs 50 Lakhs of investment for market entry, commercialization, or scaling up through convertible debentures or debt or debt-linked instruments.
C) A startup applicant can avail seed support in the form of grants and debt/convertible debentures each once as per the guidelines of the scheme
SISFS is a sector-agnostic scheme. Startups from any sector can apply for the scheme. Startups working on waste management, water management, financial inclusion, education, agriculture, food processing, biotechnology, healthcare, energy, mobility, defense, space, railways, oil and gas, textiles, and social impact will get preference.
No. Only DPIIT recognized startup can apply for SISFS. To get DPIIT-recognized, please visit https://www..startupindia.gov.in/content/sih/en/startupgov/startup-recognition-page.html
Individual entrepreneurs are not eligible to apply for support under the scheme. Only DPIIT recognized startups can apply for the SISFS.
There is no minimum education qualification required for founders to apply for SISFS.
Seed fund shall strictly not be used by startups to create any facilities and shall be utilized for the purpose it has been granted. A grant can be used for validation of Proof of Concept, or prototype development, or product trials. A debt/ convertible debenture can be used for Market entry, Commercialization, or Scaling up.
CEO, NITI Aayog
Discover Dollar Consulting
Meladath Auto Components