Seed Funding

Seed funding is critical for early-stage startups to develop their product or service, conduct market research, and create a viable business plan. In India, several government schemes and initiatives provide seed funding to support startups and small businesses. Below is a detailed guide on key government seed funding schemes and how to access them.

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Key Government Seed Funding Schemes in India

1.Startup India Seed Fund Scheme (SISFS)

• Objective: To provide financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialization.
• Eligibility: Early-stage startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT).
• Funding Amount: Up to ₹50 lakh.
• Application Process: Apply through the Startup India portal.
• Website: Startup India

2.Technology Development Board (TDB)

• Objective:To support the commercialization of innovative indigenous technologies.
• Eligibility: Indian companies developing or scaling up indigenous technology.
• Funding Amount: Varies based on project requirements.
• Application Process:Submit a detailed project proposal to the TDB.
• Website: TDB

3.SIDBI Startup Mitra

• Objective:To support early-stage startups through financial and non-financial means.
• Eligibility: Early-stage startups across various sectors.
• Funding Amount: Varies based on the project.
• Application Process: Apply through the SIDBI Startup Mitra portal.
• Website: SIDBI Startup Mitra

4. Atal Innovation Mission (AIM)

• Objective: To foster innovation and entrepreneurship across India.
• Initiatives: Includes Atal Tinkering Labs, Atal Incubation Centers, and Atal New India Challenge.
• Funding Amount: Varies based on the initiative.
• Application Process: Apply through the AIM portal.
• Website: AIM

5. Biotechnology Ignition Grant (BIG)

• Objective: Startups, academic institutions, and individual entrepreneurs in the biotechnology sector.
• Eligibility Includes Atal Tinkering Labs, Atal Incubation Centers, and Atal New India Challenge.
• Funding Amount: Up to ₹50 lakh.
• Application Process: Apply through the Biotechnology Industry Research Assistance Council (BIRAC) portal.
• Website: BIRAC BIG

6. National Initiative for Developing and Harnessing Innovations (NIDHI)

• Objective:To nurture startups through mentoring and financial support.
• Eligibility Early-stage startups in various sectors.
• Funding Amount: Varies based on the specific program.
• Application Process: Apply through the National Science & Technology Entrepreneurship Development Board (NSTEDB) portal.
• Website: NIDHI

Resources for Assistance

• Incubators and Accelerators: These can provide support in preparing grant applications and offer mentoring.
• Industry Associations: Organizations like CII, FICCI, and local chambers of commerce can provide guidance and support.
• Consultants: Professional consultants can help in navigating the application process and improving the chances of approval.