Are you a woman founder with an innovative idea who needs help securing seed funding? Are you seeking financial support to turn your idea into reality, develop a prototype, conduct product trials, or bring it to market?
About SISFS
DPIIT’s Startup India Seed Fund Scheme, with a significant outlay of INR 945 Crore, is dedicated to providing financial support for idea validation, product development, market entry, and scaling.
Highlights of SISFS:
- Year-Round Call for Applications: Startups can apply anytime.
- Sector-Agnostic: Open to all sectors, from tech to social enterprises.
- Flexible Incubation: No mandatory in-person incubation; apply from anywhere in India.
- Collateral-free loans: The Startup India Seed Fund Scheme (SISFS) does not require collateral.
- Apply to Multiple Incubators: Startups can submit applications to 3 incubators simultaneously.
STEP is a recognized incubator by Startup India for the Startup India Seed Fund Scheme to provide seed funds to selected women-led startups.
To Apply now through STEP, click here, and choose CGLS Foundation as your first preference.
This program offers selected startups grants of up to Rs. 20 lakhs and debt funding of up to Rs. 50 lakhs at the repo rate In addition, mentorship with STEP is provided to help bring your idea to life.
Why Apply Through STEP?
At STEP, we understand the unique challenges women entrepreneurs face. SISFS through STEP is designed exclusively for women and non-binary founders, giving you a better chance of securing funding compared to other programs. With STEP’s guidance, you’re not only receiving funding but joining a supportive community that’s invested in your success.
Who Can Apply?
STEP welcomes applications from those who:
- Identify as Women or Non-Binary: Inclusive and supportive of diverse founders.
- Registered Entities: Your startup should be a Private Limited, LLP, or OPC.
- Recently Incorporated: Startups incorporated within the last two years are eligible.
- DPIIT Recognition: Obtain a DPIIT number for eligibility. Get DPIIT-recognized here.
- Innovative Solutions: Preference for startups creating impactful and original solutions.
- Technologically Driven: Startups should use technology as part of their core solution, business, or distribution model.
- Funding Limit: Should not have received more than Rs. 10 lakh in prior government support.
- Ownership Structure: A minimum of 51% Indian ownership as per the Companies Act and SEBI regulations.
Ready to Bring Your Idea to Life?
Apply now through STEP by selecting CGLS Foundation as your top preference incubator. Here, you’ll find the backing you need, from financial assistance to hands-on mentorship. Embrace the opportunity to scale up your business idea with STEP’s support in the SISFS program—join us in building a future led by women entrepreneurs!
FAQs
1. What is the Startup India Seed Fund Scheme (SISFS)?
SISFS is a government initiative that provides financial support to early stage startups for idea validation, prototype development, and market entry.
2. How much funding can startups get under SISFS?
Eligible startups can receive up to ₹20 lakhs for proof of concept and up to ₹50 lakhs for product development and scaling.
3. Who can apply for SISFS funding?
Early stage startups with innovative ideas, a scalable business model, and registration in India can apply for SISFS funding.
4. How can women entrepreneurs benefit from SISFS?
Women entrepreneurs can access funding, mentorship, and support to build and grow their startups with reduced financial barriers.
5. What is the role of incubators in SISFS?
Incubators help startups apply for funding, provide mentorship, and support them throughout the evaluation and growth process.
6. How can startups apply for SISFS through STEP?
Startups can apply through STEP by submitting their idea, business plan, and required documents as per the program guidelines.
7. What are the key benefits of SISFS funding?
Key benefits include financial support, reduced risk, access to mentorship, and opportunities to scale startups faster.