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How to Apply for Seed Fund Incubator at IIMN Foundation for Entrepreneurship Development

IIMN Foundation for Entrepreneurship Development

Introduction

India’s startup landscape is thriving like never before. From small towns to big cities, young entrepreneurs are reshaping industries with ideas powered by technology, innovation, and passion. However, while ideas are abundant, access to funding, mentorship, and the right guidance often decides whether a startup succeeds or stalls.

That’s where incubation centres like the IIMN Foundation for Entrepreneurship Development (InFED) step in.

Based at the Indian Institute of Management Nagpur (IIM Nagpur), InFED is a premier incubation centre supported by NITI Aayog’s Atal Innovation Mission (AIM) and the Department for Promotion of Industry and Internal Trade (DPIIT) under the Startup India Seed Fund Scheme (SISFS).

Through its structured incubation and seed funding support, InFED empowers startups to move from idea to impact, offering access to mentorship, networks, and financial assistance.

If you’re an aspiring founder looking to scale your business idea into a viable enterprise, this guide gives you a complete roadmap — from understanding InFED’s offerings to the step-by-step process of applying for its Seed Fund Program.

1. About IIMN Foundation for Entrepreneurship Development (InFED)

The IIMN Foundation for Entrepreneurship Development (InFED) was established as the entrepreneurship development arm of IIM Nagpur, one of India’s top management institutes.

InFED aims to nurture innovation-driven startups and create a culture of entrepreneurship that drives socio-economic change. It combines academic excellence, industry exposure, and practical business support to help founders navigate the early challenges of building a company.

Vision

To create an ecosystem that nurtures innovation, fosters entrepreneurship, and supports the growth of sustainable, scalable ventures that contribute to India’s economic progress.

Mission

  • Empower entrepreneurs through incubation and acceleration programs.

  • Facilitate access to funding, mentorship, and technical support.

  • Promote technology-led innovation in priority sectors like healthcare, sustainability, and agritech.

  • Encourage inclusive entrepreneurship among women, students, and rural innovators.

Key Highlights

✅ Located within the IIM Nagpur campus, providing access to world-class academic resources.
✅ Recognized incubator under Startup India Seed Fund Scheme (SISFS).
✅ Supported by Atal Innovation Mission (AIM) and DPIIT.
✅ Over 120 startups incubated with measurable social and economic impact.
✅ Runs flagship programs like the Women Startup Program and InFED Cohort for Emerging Entrepreneurs.

InFED stands out for blending IIM Nagpur’s management expertise with practical entrepreneurship support, ensuring startups are both innovative and business-ready.

2. Understanding the InFED Seed Fund Program

The InFED Seed Fund Program operates under the Startup India Seed Fund Scheme (SISFS), an initiative by the Government of India to support early-stage startups that need financial assistance for prototype development, product trials, and market launch.

Many startups fail in the early stage not due to poor ideas, but because they lack access to seed capital. InFED’s Seed Fund bridges this “valley of death” — the stage between concept validation and securing investor funding.

Funding Structure

1. Grant Support (up to ₹20 Lakhs)

This is provided for proof-of-concept, prototype development, testing, and product validation. Startups at the idea or early prototype stage are ideal candidates.

2. Investment Support (up to ₹50 Lakhs)

Offered as debt or convertible instruments to startups that are ready for market entry, commercialization, and scaling.

Funding is disbursed in tranches, with clear milestones defined by the InFED Evaluation Committee.

This ensures that startups not only receive financial support but also gain strategic direction and mentorship for long-term growth.

3. Objectives of the InFED Seed Fund Program

The InFED Seed Fund has been designed to address the most critical needs of early-stage startups. Its key objectives include:

🌱 Promote innovation-driven entrepreneurship among students, researchers, and professionals.
🔬 Support prototype development and technology validation to make ideas market-ready.
💡 Encourage technology commercialization through mentorship and funding.
🏭 Strengthen Central India’s startup ecosystem, especially in Nagpur and nearby regions.
👩‍💼 Enable inclusive entrepreneurship by promoting women-led and social enterprises.

InFED’s holistic approach ensures that every startup not only receives funding but also develops a strong business foundation.

4. Eligibility Criteria

Before applying for the InFED Seed Fund, ensure your startup meets the Startup India Seed Fund Scheme (SISFS) guidelines and InFED-specific requirements.

✅ DPIIT Recognition

Your startup must be recognized by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Startup India initiative.

✅ Legal Entity

Should be registered as:

  • Private Limited Company

  • Limited Liability Partnership (LLP)

  • Registered Partnership Firm

✅ Startup Age

Should not be older than 10 years from the date of incorporation.

✅ Turnover Limit

The startup’s annual turnover should not exceed ₹100 crore in any financial year.

✅ Innovation-Based Product or Service

The startup must work on an innovative idea that has commercial potential and the ability to solve a real-world problem.

✅ Stage

Should be at proof-of-concept, prototype, or early commercialization stage.

✅ No Prior SISFS Funding

Startups that have already received ₹10 lakh or more under SISFS are not eligible.

5. Focus Sectors Supported by InFED

InFED supports startups across diverse technology and impact-driven sectors, with special emphasis on sustainability and inclusion.

Key Sectors Include:
🌾 AgriTech & Food Processing – Improving efficiency and income in agriculture.
🏥 HealthTech & BioTech – Developing affordable healthcare innovations.
⚡ CleanTech & Renewable Energy – Promoting sustainable industrial solutions.
💻 AI, ML, and IoT – Digital transformation and data-driven business models.
🎓 EdTech & FinTech – Technology solutions for learning and financial inclusion.
♻️ Waste Management & Circular Economy – Enabling sustainability through innovation.
🚗 Mobility & Logistics – Smart transportation and urban mobility solutions.
🌍 Social Impact Enterprises – Focused on rural development and social innovation.

This broad coverage ensures that startups from various domains find relevant mentorship and funding pathways.

6. Step-by-Step Guide to Apply for InFED Seed Fund

Applying for the InFED Seed Fund is simple, but attention to detail is crucial. Here’s a step-by-step breakdown:

Step 1: Register on the SISFS Portal

Visit the Startup India Seed Fund Portal.
If you’re not already registered, first apply for DPIIT Startup Recognition.

Step 2: Select IIMN Foundation for Entrepreneurship Development (InFED)

From the list of approved incubators, choose IIMN Foundation for Entrepreneurship Development as your preferred incubator.

Step 3: Fill in the Application Form

Provide key details including:

  • Startup overview and problem statement

  • Product or service description

  • Innovation and market fit

  • Business model and scalability plan

  • Team details and expertise

  • Funding requirement with milestone plan

Step 4: Upload Necessary Documents

  • DPIIT Recognition Certificate

  • Certificate of Incorporation

  • PAN and KYC of founders

  • Pitch Deck / Business Plan

  • Prototype documentation or validation report

Step 5: Evaluation and Shortlisting

Applications are reviewed by InFED’s Seed Fund Evaluation Committee, which assesses:

  • Innovation and technology feasibility

  • Market potential

  • Team capability

  • Scalability and socio-economic impact

Step 6: Pitching Round

Shortlisted startups present their ideas to a panel comprising IIM faculty, investors, and industry experts.

Step 7: Selection & Funding

Once approved, startups are onboarded into the InFED incubation program, where they receive funding in tranches and continuous mentorship support.

7. Benefits of Incubation at InFED

InFED goes beyond financial assistance — it offers a full-fledged growth ecosystem for startups.

🌱 Seed Funding Support

Get access to up to ₹50 lakhs for prototype development and commercialization.

🎓 Mentorship from IIM Faculty

Benefit from guidance by experienced IIM Nagpur professors and industry leaders.

🏢 Incubation Space

Work from modern co-working spaces, conference halls, and labs within the IIM Nagpur campus.

🤝 Investor & Industry Network

Connect with angels, venture capitalists, and corporate partners during demo days and networking events.

⚙️ Business Support Services

Access legal, financial, branding, and IP registration assistance.

📚 Entrepreneurship Training

Participate in investor readiness bootcamps, leadership development workshops, and domain-specific training programs.

🌍 Community & Collaboration

Join a vibrant community of innovators and changemakers solving real-world problems.

8. Success Stories from InFED

The InFED incubator has played a pivotal role in helping several startups reach national and international recognition. Here are a few inspiring examples:

🚜 Agrowave – A mobile-based agritech startup connecting farmers directly to retail markets, ensuring better margins and reduced wastage.

💡 Enrico Engineering – Focused on waste-to-energy technologies, enabling small towns to convert municipal waste into electricity.

📲 Finivo – A fintech startup helping small businesses manage finances using AI-driven insights.

🧬 BioGrit – A biotech startup creating affordable diagnostic kits for semi-urban and rural healthcare setups.

Each of these startups began as an idea — and with InFED’s guidance, turned into scalable, impact-driven ventures.

9. Why Choose InFED

Here’s why IIMN Foundation for Entrepreneurship Development (InFED) stands out among India’s top incubators:

✅ Institutional Credibility: Backed by IIM Nagpur, known for academic and managerial excellence.
✅ Government Recognition: Supported by Atal Innovation Mission and Startup India Seed Fund Scheme.
✅ Comprehensive Support: Funding, mentorship, training, and networking all in one place.
✅ Inclusive Ecosystem: Strong focus on women-led and rural innovation startups.
✅ Proven Track Record: Over 120 startups nurtured, with many achieving market success.

For founders seeking a launchpad that combines funding with business wisdom — InFED is the ideal partner.

10. Contact Information

📍 Address:
IIMN Foundation for Entrepreneurship Development (InFED)
Indian Institute of Management Nagpur,
MIHAN Campus, Nagpur, Maharashtra – 441108

📧 Email: infed@iimnagpur.ac.in
🌐 Website: www.iimnagpur.ac.in/infed
📞 Phone: +91-712-710-0000

Conclusion

The IIMN Foundation for Entrepreneurship Development (InFED) is not just an incubator — it’s a movement to empower entrepreneurs to innovate, grow, and create meaningful impact.

By offering structured incubation, seed funding, mentorship, and a strong academic-industry interface, InFED bridges the gap between ideas and implementation.

Whether you are an innovator from a small town or a student with a global vision, InFED offers you the ecosystem to convert your concept into a company.

If you have an idea that can change the world, this is your opportunity — apply today through the Startup India Seed Fund Portal and start your journey with InFED.