Seed funding support by state governments in India
StartUps India portal basic support to startups here is state-wise schemes and initiatives are mentioned. Only 5 state governments mentioned the details. Portal has a stepwise option but still lots of work pending.
Government of Karnataka initiative:
Seed funding under the ‘Idea2PoC’ scheme of the StartUps Policy of Karnataka 2015-20. Idea2PoC is a program to provide early-stage funding to ideas or concepts which are yet to establish the proof of concept in the real world.
The objective is to encourage innovators to stimulate commercialization of their inventions and to help in validating Proof of Concept.
The fund disbursement is milestone-based and is released to StartUps in installments over a maximum period of 2 years.
- Details: A program to provide early-stage funding to ideas or concepts which are yet to establish the proof of concept in the real world.
- Corpus: Up to Rs. 50 Lacs for selected ideas.
- Available To: Open to anyone from Karnataka who has an idea and is willing to commit time to bring it to a PoC stage.
- The process to Avail: This is followed by shortlisting through evaluations by the panel of judges and presentations before the Idea2PoC committee.
- Where to apply: Click to Apply
Govt. of Kerala:
- The upper limit of seed support to a startup is Rs. 15 lakhs.
- A startup should be a registered company in Kerala as an LLP or Pvt. Ltd company and should have an active registration at the time of application
- Preference will be given to startups with DIPP startup certification.
- The startup must be working in an innovative product or technology. The seed fund is not generally given for service startups and SMEs working in trade and commerce
Bihar Startup portal:
- A seed grant of up to Rs. 10 lakh per startup as an interest-free loan will be given to Startups by the State Government for a period of 10 years.
- Startups have to be certified by the Nodal Agency.
- Startups must be registered with an incubation center.
- 5% of the seed grant shall be contributed by the Incubatee into the Startup
Jammu and Kashmir Govt.:
- Under SCFS, seed money of up to Rs 7.5 lakh is provided to eligible youth.
- The scheme launched in 2010 has benefitted over 8000 entrepreneurs to date.
A Seed Grant up to INR 3 Lakhs per start-up shall be provided for validation of the idea, prototype development, assistance towards traveling costs and carrying out field/ market research/ skill training/marketing and initial activities to set up a startup.
For Information click on Source: StartUps India, Seed Funding Support