Funding Support
KIIF provides financial support through various government and private funding schemes to help startups, students, and innovators scale their ideas into successful businesses. Below are the Key Funding programs available:
SISFS (Startup India Seed Fund Scheme)
The Startup India Seed Fund Scheme (SISFS) is an initiative by the Government of India to strengthen the startup ecosystem by funding early-stage startups for:
- Proof of Concept (PoC)
- Prototype Development
- Product Trials
- Market Entry & Commercialization
The Department for Promotion of Industry and Internal Trade (DPIIT) has allocated ₹945 Crore for this scheme, aiming to support 3,600 startups through 300 incubators over 4 years.
- Recognized by DPIIT and incorporated less than 2 years
- A viable business idea with potential for commercialization and scalability
- Must be tech-driven (technology-based product, service, or business model)
- At least 51% Indian shareholding (as per Companies Act, 2013 & SEBI Regulations, 2018)
- Up to ₹20 Lakhs as a grant for PoC, prototype development, or product trials
- Up to ₹50 Lakhs as an investment (convertible debentures/debt instruments) for scaling and commercialization
- Startups can avail both grant and investment support once as per scheme guidelines
Genesis by MeitY
- The Gen-Next Support for Innovative Startups (GENESIS) program by the Ministry of Electronics & IT (MeitY) aims to scale and sustain the startup ecosystem in India, with a special focus on Tier 2 & Tier 3 cities. The government has allocated ₹490 Crore for this scheme, supporting 1,600 technology startups over 5 years. Empowering tech startups in Tier 2 & Tier 3 cities
- Startups in the ideation, validation, or early stages
Must not have received external funding exceeding ₹10 Lakhs - Focus on technology innovation, including:
- Electronics & IT
- Emerging Technologies (AI, IoT, Blockchain, etc.)
- Digital solutions for societal challenges (Health, Education, Agriculture, Sustainability)
- Potential for scalability and impact, especially in Tier 2 & Tier 3 cities.
- ₹10 Lakhs for early-stage startups – Entrepreneur in Residence
- ₹40-50 Lakhs for pilot funding
- ₹40-50 Lakhs with 1:1 private sector matching
- Up to ₹1 Crore for Deep-Tech Startups
Student Startup & Innovation Policy (SSIP) – Govt. of Gujarat
- The Student Startup and Innovation Policy (SSIP), launched by the Government of Gujarat, aims to financially support young innovators from schools, colleges, and universities. This initiative helps students turn their innovative ideas into viable startups. Eligible innovators can receive ₹2.5 Lakhs in funding, along with an additional ₹50,000 for IP (Intellectual Property) support to protect their innovations.
- Students up to 35 years from a Gujarat-based school, college, or university
- Must have an innovative idea or prototype with commercial potential
- Should not have received funding for the same idea from any other scheme.
Start-up Gujarat Policy or Gujarat Industrial Policy 2020: Strengthening Startups & Innovation
A task force was set up to design a new startup and innovation scheme aimed at strengthening Gujarat’s startup ecosystem. The policy focuses on:
- Encouraging R&D, innovation, and entrepreneurship
- Supporting startups at various stages of growth
- Providing funding across multiple sectors
- The startup/innovator must be registered and have substantial operations in Gujarat during assistance.
- A Registered Office Certificate (ROC) from Gujarat is mandatory.
- The applicant cannot be a promoter or hold more than 10% stake in another company/startup during application and approval.
- The startup/innovator must complete 1-2 months of pre-incubation or incubation at the Nodal Institute (NI) before applying.
- Seed Support: Up to ₹30 Lakhs for startups
- Sustenance Allowance:
- ₹20,000 per month for startups (for 1 year)
- ₹25,000 per month for women-led startups (for 1 year)
- Soft Skills Training: Up to ₹1 Lakh per startup (on reimbursement basis)
- Social-Impact Startups: Additional ₹10 Lakhs for startups making a significant societal impact
- Acceleration Program: Up to ₹3 Lakhs for participation in national/international acceleration programs
079-35045111 / EXT 5441
kiif@karnavatiuniversity.edu.in
A/907, Uvarsad-Vavol Road, Uvarsad,
Gandhinagar 382422, Gujarat