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Startup India Seed Fund Scheme

 Startup India Seed Fund Scheme, Central Government invites Startup India Seed Fund Scheme online application/registration form at seedfund.startupindia.gov.in. Under this scheme, the Union Government of India will provide financial assistance to startups for proof of concept, prototype development, product testing, market penetration and commercialization.

 Startup India Seed Fund Scheme

How to Apply Online for Startup India Seed Fund Scheme

The complete process of applying online as an incubator or startup under the Startup India Seed Fund Scheme is given below: –

Incubator Application Form for SISFS

First visit the official website of Startup India Seed Fund Scheme https://seedfund.startupindia.gov.in.

On the homepage, click on the “Apply Now” tab to open the Startup India Seed Fund Scheme online application page: –

If you want to join Seed Fund Scheme as Incubator, just select the Apply Now button.

Then login using username and password as incubator/startup credentials.

Finally after login, candidates can login to fill Incubator Application Form for Startup India Seed Fund Scheme.

Eligibility Criteria for Incubators under Startup India Seed Fund Scheme

The incubator must be a legal entity:

a society registered under the Societies Registration Act 1860, or

a trust registered under the Indian Trusts Act 1882, or

a private limited company registered under the Companies Act 1956 or the Companies Act 2013, or

a statutory body created through a legislative act

The incubator should have a seating capacity of at least 25 persons

The incubator must have at least 5 startups that are physically undergoing incubation as on the date of application

The incubator should be operational for at least two years on the date of application for the scheme

Incubators must have a full-time CEO, experienced in business development and entrepreneurship, who is responsible for testing and validating ideas by a competent team, as well as being competent in finance, legal and human resources functions.

Incubators must not distribute seed funds to incubate using funds from any third-party private entity

Incubator should be assisted by Central/State Government

If Incubator Assistance is not taken by Central or State Government:

Eligibility Criteria for Startups under Startup India Seed Fund Scheme

A startup, which is recognized by DPIIT, has been incorporated for not more than 2 years at the time of application.

To get accreditation from DPIIT, please visit https://www.startupindia.gov.in/content/sih/en/startupgov/startup-recognition-page.html.

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

Startups must use technology in their core product or service, or problem solving targeting business model, or delivery model or methodology.

Priority to create innovative solutions in sectors such as social impact, waste management, water management, financial inclusion, education, agriculture, food processing, biotechnology, health, energy, mobility, defence, space, railways, oil and gas, textiles, etc. will be given.

The startup should not get monetary assistance of more than Rs 10 lakh under any other central or state government scheme. This does not include prize money from competitions and grand challenges, discounted work space, founder monthly allowance, access to laboratories or access to the prototyping facility.

As per the Companies Act, 2013 and SEBI (ICDR) Regulations, 2018 the Indian promoters should have at least 51% stake in the startup at the time of applying for the incubator for the scheme.

A startup applicant can avail seed support in the form of grants and loans/convertible debentures each time as per the scheme guidelines.

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