KSIDC has launched Seed Funding Assistance Scheme for supporting innovative Start-ups in the State in the year 2015. A maximum of Rs. 25 lakhs is provided to start-ups with technologically or scientifically innovative products or ideas after screening of their project in three different stages. The seed fund assistance will be sanctioned as Soft Loan for a period of one year at the prevailing RBI bank rate as on the date of sanction of financial assistance. After one year, the Company shall either convert the soft loan into Equity Capital or repay the soft loan with applicable interest.
Procedure for Applying Seed Fund Assistance at KSIDC
- Start-ups that 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. M T Binil Kumar, AGM, KSIDC) or email us your business plan ([email protected])
- 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 is then placed before the Sub Committee of the Board of KSIDC and Applicants shall be invited to present their proposal before the committee for final approval.