Government of Karnataka provides seed funding under the ‘Idea2PoC’ scheme of Startup Policy of Karnataka 2015-20. Idea2PoC is a programme 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.
Idea2PoC is given in the form of Grant-in-aid but limited to a one time grant of up to INR 50 lakhs. Funding is released in tranches as per the Project milestones agreed in the Memorandum of Agreement between Startup and Karnataka Biotechnology and Information Technology Services (KBITS).
The fund disbursement is milestone based and is released to Startup in installments over a maximum period of 2 years. The Applicant should be a Startup as per definition in Karnataka Startup Policy. Eligibility criteria is available at portal of Elevate-Eligibility criteria. Eligible entrepreneurs can apply for the scheme incentive during call for proposal through an online portal. The process has a mix of online and offline process which include:
More details with regard to screening process is available at Elevate-screening process
Govt. of Kerala has introduced the Seed Support scheme to provide financial assistance to startups to foster the formation and development of innovative, technology-based business enterprises that will stimulate the economy of the State of Kerala through venture creations, increased employment and leveraging of private investment. This scheme is implemented through Kerala Startup Mission, which is the nodal agency of Govt. of Kerala for startup related activities and schemes.
The upper limit of seed support to a startup is Rs. 15 lakhs.
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. The financial assistance shall be provided to startups for validation of idea, prototype development, assistance towards travelling costs and carrying out field/ market research/ skill training/ marketing and initial activities to setup a startup etc. Financial Assistance will only be given to the Startup on achieving milestones and performance parameters as defined by the Incubation Center and the Trust (Nodal Agency of the State). The actual amount of funding shall be based on the assessment made jointly by the incubation centre and the Expert Committee.
More details with regard to seed funding process is available at Bihar Startup portal.
Seed Capital Fund Scheme is an important component of "Sher-e- Kashmir Employment and Welfare Programme for Youth (SKEWPY)" which in turn is a path breaking initiative of the government of Jammu and Kashmir for addressing unemployment in the state. Under SCFS, seed money of up to Rs 7.5 lakh is provided to eligible youth. Seed capital is like a one-time grant given to the entrepreneurs for making their business plans bankable.
The main objective of the Scheme is to motivate, train and facilitate a large segment of educated young men and women to take up entrepreneurship as a career option. It is also an objective of the Scheme to invest in various areas of economy to optimally exploit the resources.
The scheme launched in 2010 has benefitted over 8000 entrepreneurs till date.
The following shall be eligible for assistance under the Scheme:-
More details with regard to seed funding process is available at Seed Guidelines
A Seed Grant up to INR 3 Lakhs per start-up shall be provided for validation of idea, prototype development, assistance towards travelling costs and carrying out field/ market research/ skill training/marketing and initial activities to setup a startup.
Eligibility and application procedure:
Under the Idea2POC fund, Government of Karnataka has benefitted the following startups:
The department of IT and BT has also conducted 6 Grand Challenges supporting 18 startups with seed funding of Rs. 10 Lakh each
More details with regard to seed funding process is available at Karnataka Seed Funding
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