A multiplier for
validating
startup
ideas and employment.

Startup India Seed Fund Scheme

Objective : “Easy availability of capital is essential for entrepreneurs at the early stages of growth of an enterprise.”

Startups need to show their ideas work before they get money. This could be from angel investors, venture capital firms, or banks that prefer applicants with assets. To empower such innovative startups with ideas, the Department for Promotion of Industry and Internal Trade (DPIIT) established the Startup India Seed Fund Scheme (SISFS) intending to provide seed funds to support startups in various stages from concept validation to market entry and commercialization. The Seed Fund would be disbursed to the right startups through eligible incubators in India where JIIF was selected as one of the incubator partners in 2022. The disbursement of the Seed Fund is overseen by the Incubator Seedfund Management Committee (ISMC) and eligible startups get the funds in the form of grants/debentures based on the stages of the startup for utilising in development and growth.

About ISMC Members
Name of Person Current Organization
Rajat Mehta Management Director, Mehta Group
Amit Kothawade Assistant Manager - Innovation & Startup, Maharashtra State Innovation Society
Dr Mohan Rao Professor & Associate Dean, IES Management College And Research Centre, Mumbai
Prabodh Parakh Co-Founder, Kshama Capital Initiative
Vipin Maloo Chief Consulting Officer, 3SIXTY OPS CONSULTING FZE UAE
Siddharth Jain Director, Munoth Capital Market Ltd
Rajiv Dangi E-serve Advisors
Ankur Surana MD at SKD Advisors P Ltd
Vikash Kawar VijayLaxmi Group
Shilpin Tater MD, Tater Group
Ketan Kothari Director, Arvog
Rajesh Kumar Jain Electronics Division, BARC
Current Progress
Fund Size Allotted 2 Crs
Committed Fund 1.60 Crs
Fund Committed as Grant 40 Lakhs
Fund Committed as CCD 1.20 Crs
Balance Funds 40 Lakhs
Startups Selected 13
Eligibility Criteria for Startups
  1. A startup, recognized by DPIIT, incorporated not more than 2 years ago at the time of application.
  2. The startup must have a business idea to develop a product or a service with a market fit, viable commercialization, and scope of scaling.
  3. The startup should be using technology in its core product or service, or business model, or distribution model, or methodology to solve the problem being targeted.
  4. Preference would be given to startups creating innovative solutions in sectors such as social impact, waste management, water management, financial inclusion, education, agriculture, food processing, biotechnology, healthcare, energy, mobility, defence, space, railways, oil and gas, textiles, etc
  5. Startup should not have received more than Rs 10 lakh 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 prototyping facility.
  6. 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 Companies Act, 2013 and SEBI (ICDR) Regulations, 2018.
  7. A startup applicant can avail seed support in the form of grant and debt/convertible debentures each once as per the guidelines of the scheme. For Guidelines, you can refer the below link- SISFS Guidelines

To apply for SISFS log on to

Apply for Incubation

For details and additional information,
Contact on below email. [email protected]