KSIDC has started providing seed funding in 2014 after the first Young Entrepreneurs Summit (YES). Seed Funding shall be provided to innovative ventures/potential start-ups promoted by young entrepreneurs, subject to a maximum of Rs 25 lakhs per venture or 90% of the initial cost of the project, whichever is lower. We have sanctioned a seed fund assistance of Rs.18.23 Crores to 85 units assisted so far.
Procedure for Applying Seed Fund Assistance at KSIDC
- Start up companies wish to avail seed fund assistance from KSIDC can call our Startup Cell helpline number (Ph:0484-2323010) or you can meet the single point contact (Mr. R Prasanth, DGM, KSIDC) or email us your business plan (firstname.lastname@example.org).
- On receipt of the proposal, the KSIDC Start up Team will interact with the company.
- If the product is found innovative and has the potential to develop into a commercially viable project, Business plan template and seed fund application form will be issued to the company.
- Once on the application is submitted, a preliminary evaluation by the KSIDC Start up Team will be undertaken.
- The proposal then placed in the Internal Screening Committee of KSIDC and Applicant is invited to present his/her proposal before the committee.
- The proposal cleared by the Internal Screening Committee shall be placed before the Sub Committee of the Board of KSIDC and selected Applicants shall be invited to present his/her proposal before the committee for final approval.