DPIIT – Seed Fund Application

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Overview

The Startup India Seed Fund Scheme (SISFS), managed by the Department for Promotion of Industry and Internal Trade (DPIIT), provides financial assistance to eligible startups for proof of concept, prototype development, product trials, market entry, and commercialization. This initiative bridges the funding gap for early-stage startups, enabling them to build a strong foundation and become investor-ready.

Benefits of DPIIT Seed Fund

Early-Stage Funding – Financial support for idea validation, prototype development, and market entry.
Government-Backed Credibility – Increases trust among future investors, incubators, and partners.
Non-Equity Support – Funds are provided as grants or convertible debentures, reducing ownership dilution.
Access to Incubation Support – Mentorship, infrastructure, and networking via recognized incubators.
Boost to Innovation – Encourages technology development and commercialization.

Requirements

The startup must be DPIIT-recognized.
Incorporated within the last 2 years at the time of application.
Should have a clear, innovative, and scalable business idea.
Must not have received more than ₹10 lakhs of monetary support under any other central/state government scheme.
Preference is given to startups developing products in priority sectors such as health, agriculture, AI, and sustainability.

Eligibility

Indian startups registered as Private Limited Companies, LLPs, or Partnership Firms.
DPIIT recognition certificate is mandatory.
Should not be a subsidiary of or controlled by an existing corporate entity.
Must demonstrate feasibility, innovation, and potential for market entry and job creation.
Promoters should hold a majority stake at the time of application.

Required Documents

DPIIT Recognition Certificate.
Certificate of Incorporation and PAN of the startup.
Pitch deck and executive summary of the business idea.
Details of founders (ID, educational background, and contact details).
Business plan and revenue model.
Proof of no prior funding over ₹10 lakhs from other government schemes.
Bank account details and cancelled cheque.
Incubation agreement (if already associated with an incubator).

Application Process in India

Obtain DPIIT Recognition – Ensure your startup is registered and recognized by DPIIT.
Identify a Suitable Incubator – Select an incubator authorized under the Startup India Seed Fund Scheme.
Submit Online Application – Apply through the Startup India Seed Fund portal with all required details and documents.
Pitch Evaluation – Incubator evaluates the proposal based on innovation, market fit, and scalability.
Sanction of Funds – Approved startups receive grants or convertible debentures for development and market entry.
Fund Utilization & Reporting – Use funds for prototype development, trials, or market launch, and submit periodic reports.