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How to Apply for Seed Fund Incubator at Foundation for Innovation and Technology Transfer

FITT Seed Fund

Introduction

Deep-tech and science-driven startups need more than passion — they need specialised lab access, domain mentorship, and early capital to cross the critical chasm between prototype and product. The Foundation for Innovation and Technology Transfer (FITT) at the Indian Institute of Technology, Delhi (IIT Delhi) is one of India’s long-standing industry-academia interface organisations doing exactly that: helping research, IP and prototype-level ventures commercialise and scale. FITT supports incubation, technology licensing, industry collaboration and seed financing through curated programs and government schemes. fitt-iitd.in+1

This article is a complete, practical guide to applying for seed funding and incubation at FITT (IIT Delhi) — written step-by-step for founders who want to understand eligibility, documentation, evaluation, benefits and how to present a winning application. Wherever useful, I’ll highlight FITT’s strengths, share tips for biotech and deep-tech ventures, and point you to contact channels so you can apply confidently.

1. About FITT — mission, scope and ecosystem

Foundation for Innovation and Technology Transfer (FITT) was established at IIT Delhi as a registered society to be the institute’s industrial interface — focused on research translation, technology development, IPR management, commercialization and startup incubation. FITT has been involved in technology transfer and incubation for decades, and it operates incubation programs, industry collaborations and targeted funding initiatives, including participating in national seed funding schemes. fitt-iitd.in+1

FITT’s ecosystem connects:

  • IIT Delhi faculty and student research,

  • domain experts and mentors,

  • corporate partners for pilots and co-development, and

  • investors looking for deep-tech opportunities.

The organisation runs incubation and scale-up programs and makes early strategic or seed investments in promising ventures — particularly in areas such as life sciences/biotech, medtech, engineering R&D, energy & environment, IoT, robotics and AI. FITT also operates within or alongside initiatives such as BioNEST, LEAP/SEED funding programs, and the Startup India Seed Fund Scheme (SISFS). fitt-iitd.in+1

2. What seed funding at FITT looks like (overview)

FITT supports early-stage startups through two complementary routes:

  1. Grant / seed support for proof-of-concept and prototype work — typically used for technical validation, pilot trials, regulatory preps (for health/biotech), and product refinement.

  2. Equity / convertible instruments or institutional seed investments for teams ready to commercialise, enter markets or scale operations.

FITT is among the incubators that implement the Startup India Seed Fund Scheme (SISFS), which offers grants up to ₹20 lakh for prototype/MVP activities and up to ₹50 lakh (grant or equity/debt mix depending on the incubator model) for commercialization support — disbursed in milestone-linked tranches. FITT also runs or partners with other sectoral funds such as BIRAC SEED/LEAP programs for biotech startups. fitt-iitd.in+1

Why FITT is attractive for founders:

  • Strong IIT Delhi research backing and lab access.

  • Industry relationships for pilot deployments.

  • Experienced tech transfer and IPR support.

  • Access to multi-stage funding channels (seed, BIRAC, investor introductions). fitt-iitd.in+1

3. Who should apply — ideal applicant profile

FITT typically looks for:

  • Startups working on technology-led products (hardware, deep-tech software, medtech, biotech, cleantech).

  • Teams with at least one technical founder and convincing domain expertise.

  • Ventures at post-proof-of-concept or prototype stage (though strong early ideas with clear milestones are also considered).

  • Startups that plan to incorporate in India as a Private Limited Company, LLP or Partnership and meet the SISFS/DPIIT norms. fitt-iitd.in

If your venture needs lab access (wet labs, biosafety, imaging, etc.), FITT’s connection to IIT Delhi makes it particularly advantageous for life sciences, medtech and bioinformatics ventures. For software/AI/IoT, FITT opens doors to faculty mentorship and pilot customers in industry. fitt-iitd.in

4. Eligibility — checklist you must satisfy

Before applying, ensure you meet both SISFS and FITT expectations:

Mandatory (SISFS & incubator norms):

  • The entity is DPIIT-recognized (Startup India registration).

  • Company registration as Private Limited / LLP / Registered Partnership. Sole proprietorships/public companies are not eligible under SISFS.

  • Startup age: ≤ 10 years from the incorporation date.

  • Annual turnover: < ₹100 crore in any financial year.

  • Minimum 51% Indian ownership by promoters.

  • The startup should not have already received more than the program’s maximum for comparable government support (check SISFS rules and FITT specifics). seedfund.startupindia.gov.in+1

Program alignment & technical readiness:

  • Documented prototype, pilot data, or published research that shows technical feasibility.

  • A clear commercialization path, with defined milestones tied to the requested fund quantum.

  • For biotech/health tech: preliminary regulatory mapping, preclinical data or a clear pathway to trials / approvals. FITT values teams that understand regulatory timelines. fitt-iitd.in

5. Step-by-step application process (practical guide)

Follow this workflow to apply for FITT incubation & SISFS seed funding.

Step 1 — Prepare core documents

Assemble:

  • DPIIT recognition certificate (Startup India).

  • Certificate of Incorporation / LLP agreement.

  • Founders’ KYC (PAN, Aadhar).

  • A crisp 1-page executive summary + 10–12 slide pitch deck.

  • Technical appendix: prototype photos, data, IP disclosures, protocols (for lab tech).

  • 3-year financial projections and a milestone-linked fund utilization plan.

Step 2 — Research FITT programs & pick the right intake

Visit FITT’s website and review current calls (incubation, BioNEST, SEED/LEAP, SISFS intake pages). FITT periodically runs focused calls (e.g., medtech, green tech) — applying to a matched call improves your chances. fitt-iitd.in+1

Step 3 — Submit initial application

FITT accepts applications via its portal/contact form. When SISFS is open, you can also apply through the SISFS portal and nominate FITT as the implementing incubator. Ensure you provide succinct answers to the evaluation criteria (innovation, market, IP, team). fitt-iitd.in+1

Step 4 — Screening & technical evaluation

FITT’s screening committee conducts an initial review. Shortlisted teams are invited to a technical interview or demo day where you’ll present your prototype, data and commercialization plan.

Step 5 — Due diligence & selection

If your pitch is shortlisted, FITT performs due diligence on technical claims, IP ownership, market validation and team background. For SISFS, selection aligns with the incubator’s Seed Fund Evaluation Committee (SFEC) and the SISFS rules. fitt-iitd.in

Step 6 — Onboarding & milestone funding

Selected startups sign an incubation agreement. Funding is typically disbursed in tranches against milestones (e.g., prototype ready → pilot → market launch). FITT will also outline non-financial support (lab access, mentorship, pilot introductions). fitt-iitd.in

6. What FITT provides — benefits beyond money

Seed funding + incubation at FITT delivers tightly integrated support:

  • Financial support: Access to SISFS-aligned grants (up to ₹20L for PoC, up to ₹50L for commercialization) and FITT’s own early investment mechanisms or partner funds. fitt-iitd.in+1

  • R&D & labs: For life sciences and medtech founders, FITT can facilitate access to IIT Delhi’s labs, equipment and faculty expertise. This reduces capital expenditure and accelerates validation. fitt-iitd.in

  • Mentorship & tech transfer: FITT’s tech transfer expertise helps you shape IP strategy, licensing or collaborative R&D agreements with industry. Devex

  • Investor introductions: FITT actively connects incubatees to angels, VCs and strategic corporate investors — often participating in early rounds or co-investing. fitt-iitd.in

  • Market & pilot access: Industry partnerships broker pilots and real-world testing opportunities — vital for credibility and follow-on investment. fitt-iitd.in

7. Success stories & proof points

FITT’s track record includes several incubated ventures that progressed from lab prototypes to funded companies and pilot deployments. While individual company details evolve, FITT portfolio companies have raised seed rounds and partnered with industry players — evidence that IB-academic incubation plus early seed support de-risks technology ventures meaningfully. Examples and updates are often shared on FITT’s social channels and news pages. foxhogventures.com+1

(When preparing your application, study FITT’s published success stories and case studies — they reveal what the incubator values: technically sound teams, realistic milestones, and early customer validation.)

8. Practical tips to make your application stand out

  1. Tell a concise technical story: Show the problem, why existing solutions fail, and how your technology solves it — with data.

  2. Map milestones to funding tranches: Describe what you will achieve with each tranche (e.g., “₹8L — refine prototype to ISO-standard; ₹12L — pilot with 3 hospitals”).

  3. Address regulatory pathways early: For medtech/biotech, a regulatory plan (timeline, costs, approvals needed) is crucial. FITT values teams who understand the pathway. fitt-iitd.in

  4. Show founder commitment: Demonstrate how the team will allocate time and resources — investors back teams more than ideas.

  5. Prepare IP documentation: Even provisional patents or published paper links strengthen credibility. FITT assists with tech transfer and IP, but you should show awareness. Devex

  6. Be pilot-ready: A pilot plan with a named partner is a big advantage. FITT’s industry network can help, but having a pilot lead in your application is ideal.

9. Common questions & quick clarifications

  • Can students apply? Yes — student founders are welcome. Ensure incorporation and DPIIT recognition are completed before disbursement.

  • Is equity always taken? FITT deploys a mix — SISFS grants may be non-dilutive, while other FITT investments (or partner funds) can be equity/convertible instruments depending on the program. Clarify the instrument before onboarding. fitt-iitd.in

  • How long does selection take? Timelines vary; initial screening may take 2–6 weeks with additional due diligence and onboarding time. Plan for milestone deliverables over 6–18 months.

  • Does FITT support follow-on funding? Yes — FITT assists in connecting incubatees to angel and VC rounds; some portfolio companies have gone on to raise seed/Series A elsewhere.

10. Contact & where to apply

Primary FITT contact (IIT Delhi):
Foundation for Innovation and Technology Transfer (FITT)
Technology Bhavan / IIT Delhi campus, Hauz Khas, New Delhi — 110016.
Phone and email contact details and application portals are listed on FITT’s site — use these channels to submit your incubation/seed fund application or enquiry. fitt-iitd.in+1

Useful links:

  • FITT official site (incubation & SISFS pages).

  • Startup India Seed Fund Scheme portal (for SISFS registration and incubator nomination). seedfund.startupindia.gov.in

Conclusion

Applying for seed funding at the Foundation for Innovation and Technology Transfer (FITT), IIT Delhi, is a high-leverage move for founders building science-driven and deep-tech ventures. FITT’s combination of IIT Delhi’s research strength, lab access, tech-transfer expertise and curated early funding makes it well suited for startups that need both technical validation and market pathways.

If you have a validated prototype, a realistic commercialization plan and a committed team, prepare a tight, milestone-centred application and apply through FITT’s portal or the SISFS mechanism. With the right preparation — clear milestones, regulatory insight (for health/biotech), and pilot readiness — your startup can secure early capital and the strategic support that turns lab discoveries into products that matter.