SISFS: Startup India Seed Fund Scheme

What You Get: ₹20L grant (equity-free) for proof of concept, prototype, product trials, no repayment, no dilution; ₹50L as convertible debentures / debt for market entry and commercialisation, via incubator; Total corpus: ₹945 Cr across 300+ empanelled incubators; Apply through incubator, not DPIIT directly. IIM, IIT incubators are empanelled.

Eligibility: DPIIT-recognised startup under 2 years old at time of application; Incorporated as Pvt Ltd, LLP, or registered Partnership; Prior govt funding received not more than ₹10L; Innovative, scalable idea, agriculture, health, education, oil & gas sectors preferred but not exclusive; No prior VC/Angel funding restriction, but must not be funded beyond incubation stage. Timeline + Process: Apply at seedfund.startupindia.gov.in → select empanelled incubator → submit application; Incubator selection committee reviews → approval 3-6 months; Grant disbursed in tranches against milestones; ₹20L grant: no repayment. ₹50L debentures: convert to equity at next round valuation or repay at agreed terms. Grant Agreement: Incubator-to-startup. Defines milestone schedule, tranche disbursement, utilisation norms, reporting obligations. Misuse = full recovery.