Startup India Seed Fund Scheme
Funding support for startups to develop proof of concept, create prototypes, conduct product trials, enter the market, and achieve commercialization.
The benefits
SISFS empowers early-stage startups with financial backing, expert mentorship, market access, and networking support.
Tailored Mentorship
Receive expert guidance to refine strategies and navigate challenges for success.
Quantum of Funding 1
Up to Rs. 20 Lakhs as grant for validation of Proof of Concept, or prototype development, or product trials. The grant shall be disbursed in milestone-based instalments.
Quantum of Funding 2
Up to Rs. 50 Lakhs of investment for market entry, commercialization, or scaling up through convertible debentures or debt or debt-linked instruments
Support for Innovation
Encourages innovation by helping startups turn their ideas into viable products.
Diverse Eligibility
Open to a wide range of startups across various sectors, fostering inclusivity.
Early-Stage Startups
Specifically designed to support early-stage startups with limited funding access.
Program objectives
The SISFS program nurtures startups, empowering entrepreneurs to access funding, scale quickly, and drive innovation nationwide.
Startup Ecosystem
Enhance the entrepreneurial ecosystem by supporting incubation centers that provide essential resources for growth.
Economic Growth
Create job opportunities and contribute to economic development through support for startups poised to scale and succeed.
Support Early-Stage Startups
Provide critical funding to startups for initial development stages, including proof of concept, prototype creation, and product trials.
Market Entry
Help startups bridge the funding gap in their journey towards commercialization and successful market entry.
Self-Sufficiency
Enable startups to become self-reliant and sustainable by providing financial and operational support.
Encourage Innovation
Promote high-potential startups focused on innovative solutions across various sectors and industries.
Our Startups
FiiRE™ Goa proudly supports a diverse portfolio of innovative startups in sectors like TourismTech® and sustainable technology. They benefit from tailored incubation, mentorship, and agnostic funding like grants and equity support, driving innovation to impact Goa’s economy.
180+
Startups Supported
52
Startups Funded
Do you meet our selection criteria?
New Startups Only
Eligible startups must be recognized by DPIIT and incorporated within the past 2 years.
Market Fit and Scalability
Startup must have a business idea to develop a product or a service with market fit, viable commercialization, and scope of scaling.
Core Technology Usage
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.
Innovative Solutions in Health
Preference would be given to startups creating innovative solutions in biotechnology, healthcare and allied applications in industrial sectors.
Limited Prior Funding
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.
Indian Ownership
Shareholding by Indian promoters in the startup should be at least 51% at the time of application to incubator for the scheme, as per Companies Act, 2013 and SEBI (ICDR) Regulations, 2018.
FAQs
Can startups apply more than once for SISFS funding?
No, each startup can only receive SISFS funding once, ensuring the scheme benefits a diverse range of new ventures without repeat support allocations.
How does SISFS support startups in high-cost industries, like biotechnology or healthcare?
SISFS prioritizes startups with innovative solutions in biotechnology, healthcare, and allied sectors, providing financial backing to address challenges in research, development, and market entry that often require substantial initial investment.
What if a startup has previously received minor government support?
Startups are eligible if they haven’t received more than Rs 10 lakh from other government schemes, except for certain benefits like prize money or facility access, allowing them flexibility in funding sources.
