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How to Apply for Seed Fund Incubator at AIC-NMIMS Incubation Centre

AIC-NMIMS

Introduction

India’s startup revolution is not just about funding — it’s about foundations.
Foundations that nurture ideas, empower entrepreneurs, and transform innovations into impact. One such foundation leading the charge is the AIC-NMIMS Incubation Centre, Mumbai.

Backed by Atal Innovation Mission (AIM), NITI Aayog, and powered by the academic excellence of Narsee Monjee Institute of Management Studies (NMIMS), this incubation centre has become a powerhouse of entrepreneurship and innovation in India.

If you’re a startup founder seeking early-stage funding, mentorship, and a growth ecosystem, the AIC-NMIMS Seed Fund under the Startup India Seed Fund Scheme (SISFS) could be your ideal launchpad.

This article dives deep into how to apply for seed funding at AIC-NMIMS, eligibility, funding process, benefits, and why this incubator is one of India’s most promising platforms for founders.

1. About AIC-NMIMS Incubation Centre

The AIC-NMIMS Incubation Centre was established under the Atal Innovation Mission (AIM) by NITI Aayog to foster innovation and entrepreneurship among India’s brightest minds.

It operates under the prestigious Narsee Monjee Institute of Management Studies (NMIMS) — one of India’s leading universities known for its management, technology, and business programs.

Vision

To build a self-sustaining entrepreneurial ecosystem that supports innovators in developing scalable, impactful, and sustainable ventures.

Mission

To empower entrepreneurs by offering access to funding, mentorship, business resources, and global networks that turn ideas into viable enterprises.

Core Focus Areas

  • Technology-driven innovation

  • Social entrepreneurship

  • Women-led startups

  • AgriTech, HealthTech, and FinTech innovations

  • Clean energy and sustainability-focused ventures

The AIC-NMIMS ecosystem brings together academia, industry, government, and investors — creating a perfect environment for startups to thrive.

2. What is the AIC-NMIMS Seed Fund?

The AIC-NMIMS Seed Fund is part of the Startup India Seed Fund Scheme (SISFS) initiated by DPIIT, Government of India.

It provides financial assistance and incubation support to early-stage startups, helping them validate, prototype, and commercialize their innovations.

This fund is designed to fill the critical gap between idea validation and venture capital investment — the stage where most startups struggle.

Funding Structure

  1. Grant Support (Up to ₹20 Lakhs)
    For developing proof of concept, prototypes, or MVPs (Minimum Viable Products).

  2. Equity/Convertible Debt (Up to ₹50 Lakhs)
    For startups entering the commercialization and scaling phase.

Key Objectives

  • Empower innovative and impact-driven entrepreneurs.

  • Promote startup culture among youth and women entrepreneurs.

  • Facilitate the journey from idea to market through expert mentorship and financial backing.

3. Eligibility Criteria for AIC-NMIMS Seed Fund

Before applying for funding, startups must ensure they meet the eligibility conditions defined by the Startup India Seed Fund Scheme.

✅ Basic Eligibility

  • Startup must be recognized by DPIIT under Startup India.

  • Must be incorporated in India as a Private Limited Company, LLP, or Partnership Firm.

  • Startup age must be less than 10 years from the date of incorporation.

  • Annual turnover should be below ₹100 crore in any financial year.

  • Indian founders must hold at least 51% equity.

  • The startup should not have received more than ₹10 lakh in government grants (excluding awards and prizes).

✅ Innovation and Impact

  • The startup must have a unique, innovative, and scalable business idea.

  • Preference is given to technology-led startups and those addressing social or environmental challenges.

✅ Preferred Sectors

  • AgriTech & FoodTech

  • FinTech & EdTech

  • HealthTech & MedTech

  • Renewable Energy & CleanTech

  • Social Impact & Women-led ventures

  • SaaS and AI-driven platforms

4. Step-by-Step Guide to Apply for the AIC-NMIMS Seed Fund

Applying for the AIC-NMIMS Seed Fund is a structured and transparent process, ensuring equal opportunity for all founders.

Step 1: Register on Startup India Portal

  • Go to the Startup India Seed Fund Scheme portal (https://seedfund.startupindia.gov.in).

  • Sign up as a startup founder and select “AIC-NMIMS Incubation Centre” as your preferred incubator.

Step 2: Complete Application Details

You’ll need to provide details about your startup including:

  • Business summary and problem statement

  • Solution and market differentiation

  • Prototype or MVP details (if any)

  • Revenue and business model

  • Market potential and scalability

  • Team information and expertise

  • Funding requirement and projected milestones

Step 3: Attach Required Documents

Prepare and upload:

  • DPIIT Recognition Certificate

  • Incorporation Certificate

  • Founder KYC (PAN, Aadhaar)

  • Detailed Pitch Deck

  • Business Plan and Financial Projections

Step 4: Screening & Evaluation

Your application is evaluated by the AIC-NMIMS internal screening committee.
Assessment criteria include:

  • Innovation and originality

  • Technical feasibility

  • Market potential

  • Founders’ capability and commitment

Step 5: Pitch Presentation

Shortlisted startups will be invited to pitch before an expert panel, including investors, mentors, and faculty advisors.

Step 6: Selection and Onboarding

If selected, your startup will receive seed funding along with incubation support for up to 12 months.

You’ll also gain access to NMIMS resources, mentor networks, and investor connects.

5. Benefits of Incubation at AIC-NMIMS

Startups accepted into the AIC-NMIMS Incubation Program receive a holistic blend of financial, technical, and strategic support.

✅ Seed Funding Support

Up to ₹50 lakhs in funding through grants and equity instruments to develop and scale your business.

✅ Mentorship and Advisory Network

Get mentored by top industry experts, investors, and successful entrepreneurs from NMIMS and beyond.

✅ Access to Infrastructure

Leverage NMIMS’s state-of-the-art labs, coworking spaces, and prototyping facilities located in Mumbai — one of India’s startup capitals.

✅ Corporate and Industry Collaborations

Partner with NMIMS alumni networks and corporate houses for product testing, pilots, and B2B collaborations.

✅ Investor & Funding Access

Connect with angel networks, venture capitalists, and financial institutions through regular demo days.

✅ Global Exposure

AIC-NMIMS facilitates international partnerships and accelerator programs, giving startups access to global markets.

✅ Women Entrepreneurship Support

Through its inclusive approach, AIC-NMIMS encourages and empowers women founders, offering special mentorship tracks.

6. Notable Startups Supported by AIC-NMIMS

Over the years, AIC-NMIMS has supported numerous innovative startups that have gone on to achieve national and international recognition.

Some of the promising ventures include:

  • Bee Urban – A sustainable eco-product startup promoting green living.

  • KnockKnock – A student-focused digital engagement platform.

  • Krish-e – A smart AgriTech startup improving farmer productivity.

Each of these startups has leveraged AIC-NMIMS’s ecosystem for mentorship, validation, and scaling.

7. Why Choose AIC-NMIMS for Seed Funding

Here’s why AIC-NMIMS stands out as a preferred destination for founders:

  • Backed by NMIMS University’s academic and research strength

  • Supported by Atal Innovation Mission, NITI Aayog

  • Proven record of helping startups raise follow-on funding

  • Focus on social impact and sustainable innovation

  • Deep corporate networks across industries

  • Access to student talent and research labs

With its unique blend of academia, government support, and entrepreneurial focus, AIC-NMIMS has positioned itself as a next-generation innovation hub for Indian startups.

8. Contact Information

📍 Address:
AIC-NMIMS Incubation Centre,
SVKM’s NMIMS University,
Vile Parle (West), Mumbai – 400056, Maharashtra, India.

📧 Email: aic@nmims.edu
🌐 Website: www.aic.nmims.edu
📞 Phone: +91 22 4235 5555

Conclusion

In today’s competitive startup landscape, founders need more than just funding — they need the right ecosystem.

The AIC-NMIMS Incubation Centre provides exactly that — a combination of capital, mentorship, and credibility that accelerates growth.

Through the AIC-NMIMS Seed Fund, early-stage startups can get up to ₹50 lakhs, mentorship from industry leaders, and access to a powerful network that connects innovation with opportunity.

If you’re building something impactful — whether in tech, sustainability, or social innovation — this is your chance to grow with one of India’s most respected incubators.

Apply today and take your startup from concept to commercialization with the AIC-NMIMS Seed Fund.