{"id":1041,"date":"2024-05-15T00:00:00","date_gmt":"2024-05-15T00:00:00","guid":{"rendered":"https:\/\/rize.blog.razorpay.in\/startup-india-seed-fund-scheme\/"},"modified":"1970-01-01T00:00:00","modified_gmt":"1970-01-01T00:00:00","slug":"startup-india-seed-fund-scheme","status":"publish","type":"post","link":"https:\/\/razorpay.com\/rize\/blogs\/startup-india-seed-fund-scheme\/","title":{"rendered":"Startup India Seed Fund Scheme for Startups | Razorpay Rize"},"content":{"rendered":"<h2 id=\"\">Eligibility<\/h2>\n<ul id=\"\">\n<li id=\"\">Should be recognised by <strong id=\"\">DPIIT.<\/strong><\/li>\n<li id=\"\">Startups should not have received more than Rs 10 lakh of monetary support under other significant government schemes.<\/li>\n<li id=\"\">The Startup shall have been in existence for no more than two years at the time of application.<\/li>\n<li id=\"\">Should be using technology as its core product or service to create innovative solutions in different sectors.<\/li>\n<li id=\"\">Must have a business idea to develop the product with a scope of scaling<\/li>\n<li id=\"\">According to the <strong id=\"\">Companies Act of 2013<\/strong> and the <strong id=\"\">SEBI <\/strong>(<strong id=\"\">ICDR)<\/strong> Regulations of 2018, Indian promoters must own at least 51 percent of the company at the time of application to the incubator.<\/li>\n<li id=\"\">The seed support is generally available in grants and debt\/convertible <strong id=\"\">debentures<\/strong>.<\/li>\n<\/ul>\n<h2 id=\"\">Application procedure for Startups<\/h2>\n<p id=\"\">The application procedure for availing the seed fund from the incubators by the startups under the StartUp India Seed Fund Scheme is as follows:<\/p>\n<h3 id=\"\">Startup India Registration<\/h3>\n<ul id=\"\">\n<li id=\"\">Go to <a id=\"\" href=\"https:\/\/seedfund.startupindia.gov.in\/\" target=\"_blank\" rel=\"noopener\">https:\/\/seedfund.startupindia.gov.in\/<\/a>.<\/li>\n<li id=\"\">On the top right side of the homepage, click the &#8216;<strong id=\"\">Login<\/strong>&#8216; button, then the &#8216;<strong id=\"\">Create an Account&#8217;<\/strong> option at the bottom of the &#8220;<strong id=\"\">Login<\/strong>&#8221; tab.<\/li>\n<li id=\"\">The \u2018<strong id=\"\">Startup India<\/strong>\u2019 registration page will open.<\/li>\n<li id=\"\">After filling out the form, click the &#8216;<strong id=\"\">Register<\/strong>&#8216; button.<\/li>\n<li id=\"\">An OTP will be sent. Enter the OTP and click the \u2018<strong id=\"\">Submit<\/strong>\u2019 button.<\/li>\n<\/ul>\n<h3 id=\"\">Startup India Seed Fund Application<\/h3>\n<ul id=\"\">\n<li id=\"\">Go to the website again and click on the \u2018<strong id=\"\">Apply Now\u2019<\/strong> button on the right-hand side of the homepage.<\/li>\n<li id=\"\">Click on the \u2018<strong id=\"\">Apply Now\u2019<\/strong> button under the \u2018For Startups\u2019 option and log in using the username and password registered.<\/li>\n<li id=\"\">The application form will open. Put in all the details, upload the documents, and click on the \u2018<strong id=\"\">Submit<\/strong>\u2019 button.<\/li>\n<li id=\"\">The application will be submitted for the selection of the startup.<\/li>\n<\/ul>\n<h2 id=\"\">Selection of Startups for the Scheme<\/h2>\n<p id=\"\">The Eligible Incubator will select startups for this scheme based on the following criteria:<\/p>\n<ul id=\"\">\n<li id=\"\">Idea<\/li>\n<li id=\"\">Feasibility<\/li>\n<li id=\"\">Novelty<\/li>\n<li id=\"\">Fund Utilization Plan<\/li>\n<li id=\"\">Business Plan<\/li>\n<li id=\"\">Presentation<\/li>\n<li id=\"\">Potential Impact<\/li>\n<\/ul>\n<h2 id=\"\">Benefits<\/h2>\n<p id=\"\">To register a company in the U.S., several essential criteria must be met.<\/p>\n<ul id=\"\">\n<li id=\"\">Under this scheme, up to Rs 50 lakh in financial assistance will be provided to startups at an early stage through incubators.<\/li>\n<li id=\"\">The incubator will disburse the seed fund to an eligible startup:<em id=\"\"><br \/>&#8211; As a grant for validation of \u201cprototype development, proof of concept or product trials\u201d- &nbsp;<\/em><strong id=\"\"><em id=\"\">Up to Rs. 20 Lakh<\/em><\/strong><em id=\"\"> &nbsp; &nbsp; &nbsp; &nbsp;<br \/>&#8211; Investment for commercialization, market-entry, or scaling up through debt-linked instruments &#8211; <\/em><strong id=\"\"><em id=\"\">Up to Rs. 50 Lakh<\/em><\/strong><\/li>\n<li id=\"\">Once incubated, <strong id=\"\">physical infrastructure<\/strong>, <strong id=\"\">testing support<\/strong>, <strong id=\"\">mentoring<\/strong> for prototype or commercialization, <strong id=\"\">human resources<\/strong>, and <strong id=\"\">legal compliances<\/strong> are provided to the startups, all by the incubators<strong id=\"\">.<\/strong><\/li>\n<li id=\"\">For eligible startups, income tax and capital gains tax exemptions are available.<\/li>\n<\/ul>\n<h2 id=\"\">Post funding process<\/h2>\n<p id=\"\">Each incubator must track specific criteria for each beneficiary startup. Every beneficiary startup must present the reports to its incubators periodically. The data is submitted to Startup India in real-time via their web dashboards and further to the EAC quarterly. Each Startup\u2019s return on investment is also reported by the designated incubator.<\/p>\n<ul id=\"\">\n<li id=\"\">Proof of concept<\/li>\n<li id=\"\">Prototype development<\/li>\n<li id=\"\">Progress of product development &amp; field trials<\/li>\n<li id=\"\">Turnover of startup<\/li>\n<li id=\"\">Progress of market launch<\/li>\n<li id=\"\">Quantum of loan, angel, or VC funding raised<\/li>\n<li id=\"\">Jobs created by startup<\/li>\n<\/ul>\n<h2 id=\"\">Frequently Asked Questions<\/h2>\n","protected":false},"excerpt":{"rendered":"<p>Unlock growth opportunities for your startup with the Startup India Seed Fund Scheme. Get mentorship, resources and seed funding.<\/p>\n","protected":false},"author":1,"featured_media":1042,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/razorpay.com\/rize\/blogs\/wp-json\/wp\/v2\/posts\/1041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/razorpay.com\/rize\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/razorpay.com\/rize\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/razorpay.com\/rize\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/rize\/blogs\/wp-json\/wp\/v2\/comments?post=1041"}],"version-history":[{"count":1,"href":"https:\/\/razorpay.com\/rize\/blogs\/wp-json\/wp\/v2\/posts\/1041\/revisions"}],"predecessor-version":[{"id":1330,"href":"https:\/\/razorpay.com\/rize\/blogs\/wp-json\/wp\/v2\/posts\/1041\/revisions\/1330"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/razorpay.com\/rize\/blogs\/wp-json\/wp\/v2\/media\/1042"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/rize\/blogs\/wp-json\/wp\/v2\/media?parent=1041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/rize\/blogs\/wp-json\/wp\/v2\/categories?post=1041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/rize\/blogs\/wp-json\/wp\/v2\/tags?post=1041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}