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How to Apply for Seed Fund Incubator at Amrita Technology Business Incubator

Amrita TBI

Introduction

In India’s dynamic startup ecosystem, securing early-stage funding and mentorship can significantly impact a startup’s journey from ideation to commercialization. The Amrita Technology Business Incubator (TBI), established by Amrita Vishwa Vidyapeetham, stands out as a premier incubator offering comprehensive support to early-stage startups. Recognized under the Startup India Seed Fund Scheme (SISFS), Amrita TBI provides financial assistance, infrastructure, and mentorship to startups across various sectors.

About Amrita TBI

Amrita TBI is a non-profit technology business incubator supported by the Department of Science & Technology (DST), Government of India, and Amrita Vishwa Vidyapeetham. With facilities in Amritapuri, Bengaluru, and Coimbatore, Amrita TBI offers both physical and virtual incubation options to startups. The incubator has been instrumental in nurturing over 200 startups, providing them with the necessary resources to scale and succeed.

Understanding the Startup India Seed Fund Scheme (SISFS)

The Startup India Seed Fund Scheme (SISFS), launched by the Government of India, aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialization. Amrita TBI, as a partner incubator, plays a pivotal role in implementing this scheme by offering funding support and strategic guidance to eligible startups.

Funding Details

Under the SISFS, eligible startups can receive:

  • Up to ₹20 Lakhs as a grant for validation of proof of concept, prototype development, or product trials.

  • Up to ₹50 Lakhs as an investment for market entry, commercialization, or scaling up through convertible debentures or debt-linked instruments.

Eligibility Criteria

To apply for the SISFS through Amrita TBI, startups must meet the following criteria:

  • DPIIT Recognition: The startup must be recognized by the Department for Promotion of Industry and Internal Trade (DPIIT).

  • Incorporation Age: The startup should be incorporated not more than 2 years ago at the time of application.

  • Technology Component: The startup must have a technology component in its core product or service, business model, distribution model, or methodology to solve the problem being targeted.

  • Business Idea: The startup should have a business idea to develop a product or service with market fit, viable commercialization, and scope of scaling.

  • Funding Limit: The total government financial assistance previously received by the startup should not exceed ₹10 Lakhs, excluding benefits like prize money, lab access, or subsidized workspace.

  • Equity Holding: Indian promoters must hold at least 51% equity in the startup.

Sectors Supported

The SISFS is a sector-agnostic scheme, but preference is given to startups working in areas such as:

  • Waste Management

  • Water Management

  • Financial Inclusion

  • Education

  • Agriculture

  • Food Processing

  • Biotechnology

  • Healthcare

  • Energy

  • Mobility

  • Defense

  • Space

  • Railways

  • Oil and Gas

  • Textiles

  • Social Impact

Application Process at Amrita TBI

Step 1: Obtain DPIIT Recognition

Before applying, ensure that your startup is recognized by the Department for Promotion of Industry and Internal Trade (DPIIT). This recognition is mandatory for availing benefits under the SISFS. You can apply for DPIIT recognition through the Startup India portal.

Step 2: Prepare Required Documents

Gather the following documents to support your application:

  • DPIIT Recognition Certificate: Proof of your startup’s recognition.

  • Certificate of Incorporation: Legal proof of your startup’s establishment.

  • Pitch Deck: A concise presentation outlining your business idea, market opportunity, and growth strategy.

  • Business Plan: Detailed document covering your business model, revenue streams, and financial projections.

  • Prototype or MVP: Demonstration of your product or service.

  • Team Details: Information about the founding team and their roles.

Step 3: Submit Application

Visit the Amrita TBI SISFS Application Page and complete the application form. Ensure that all information is accurate and all required documents are uploaded.

Step 4: Evaluation and Selection

After submission, your application will undergo the following evaluation process:

  • Screening: Initial review to check eligibility and completeness of the application.

  • Evaluation: Assessment by Amrita TBI’s internal committee and external experts.

  • Pitch Presentation: Shortlisted startups may be invited to present their business ideas to potential investors and mentors.

  • Final Decision: Based on evaluations and presentations, selected startups will receive funding and incubation support.

Step 5: Utilization of Funds

If selected, the funds should be utilized strictly for the purposes mentioned in your application, such as:

  • Prototype Development: Enhancing or building your product.

  • Product Trials: Testing your product in real-world scenarios.

  • Market Entry Activities: Launching your product in the market.

  • Commercialization Efforts: Scaling your operations and reaching a broader audience.

Additional Programs at Amrita TBI

Apart from the SISFS, Amrita TBI offers several other programs to support startups:

1. NIDHI-PRAYAS

The NIDHI-PRAYAS program provides grants up to ₹10 Lakhs to aspiring innovators and startups to build their ideas into prototypes. This initiative aims to bridge the gap between ideation and product development.

2. Amrita TBI PitchFest

Amrita TBI PitchFest is a platform for startups to showcase their ideas and qualify to receive seed investment up to USD 200,000 and get co-working space at Amrita TBI. This event connects startups with investors and mentors, facilitating growth and expansion.

3. Amrita TBI Accelerator

The Amrita TBI Accelerator is a fast-paced program designed to help early-stage startups evolve into successful ventures. Startups can raise funding from invited external investors and Amrita TBI during the Demo Day event.

4. NIDHI-EIR

The NIDHI-EIR program provides a subsistence grant up to ₹30,000 per month to aspiring entrepreneurs to pursue promising technology business ideas. This initiative supports individuals in transforming their innovative ideas into viable startups.

Contact Information

For more details or assistance:

Conclusion

The Seed Fund Incubator at Amrita TBI offers a robust platform for startups to access funding, mentorship, and infrastructure support. By aligning with the Startup India Seed Fund Scheme, Amrita TBI plays a pivotal role in nurturing early-stage startups and helping them scale their operations. If your startup meets the eligibility criteria and is in the early stages of development, applying for the SISFS through Amrita TBI can provide the necessary resources to propel your business forward.