BIRAC Incubators SEED Fund

Brief

The basic idea of SEED Fund is providing Capital assistance to startups with new and meritorious ideas, innovations and technologies. This would enable some of these start-ups to graduate to a level where they will be able to raise investments from angel/Venture capitalist or they will reach a position to seek loans from commercial banks /financial institutions. Thus the proposed seed support is positioned to act as a bridge between promoters investment and Venture/Angel investment. This is not an investment scheme, but, rather a support scheme to enable start-ups and incubator to attain sustainability.

Eligibility

• Incubator Eligibility :
• Supported through BIRAC's Bio-NEST Programme.
• Operational for at least three years with at least five resident startups in Biotech/Med-Tech/Life Sciences.
• Established Intellectual Property & Technology Transfer (IP&TT) facilitation services.
• Prior experience managing early-stage funding schemes or grants.
• Startup Eligibility :
• Registered under Companies Act, 2013.
• At least 51% shareholding by Indian citizens (excluding OCI or PIO).
• Engaged in innovative and technology-driven projects relevant to biotechnology and life sciences.
• Demonstrate significant technical advancement and commercialization potential.

Fund / quantum

• Each such selected incubator will be granted up to 200.00 Lakhs for implementation of SEED Fund. Each incubator can design a selection process to screen & select startups for equity and operational funding through SEED Fund (e.g Accelerator program or Direct investment).

Tenure

• Active

Benefit tags

• Incubators

• It offers numerous benefits for both incubators and the startups they support. For incubators, it strengthens their capacity to nurture early-stage biotechnology ventures by providing financial resources for seed funding and attracting promising startups. This enhances their track record of successful portfolio companies and strengthens their position within the ecosystem. For startups, the SEED Fund alleviates the financial burden of early-stage development, enabling them to focus on critical activities like proof-of-concept demonstrations and initial market validation. Access to expertise and guidance from established incubators further accelerates their growth and increases their chances of success in the competitive biotechnology landscape.

• Incubator Eligibility :

• Supported through BIRAC's Bio-NEST Programme.

• Operational for at least three years with at least five resident startups in Biotech/Med-Tech/Life Sciences.

• Established Intellectual Property & Technology Transfer (IP&TT) facilitation services.

• Prior experience managing early-stage funding schemes or grants.

• Startup Eligibility :

• Registered under Companies Act, 2013.

• At least 51% shareholding by Indian citizens (excluding OCI or PIO).

• Engaged in innovative and technology-driven projects relevant to biotechnology and life sciences.

• Demonstrate significant technical advancement and commercialization potential.

• Each such selected incubator will be granted up to 200.00 Lakhs for implementation of SEED Fund. Each incubator can design a selection process to screen & select startups for equity and operational funding through SEED Fund (e.g Accelerator program or Direct investment).

• Active

Online / portal

Official application / information link: https://birac.nic.in/seedFund.php

Source listing: https://www.startupindia.gov.in/content/sih/en/government-schemes.html