SENIOR CARE AGEING GROWTH ENGINE (SAGE) VENTURE FUND

Brief

A Fund targeted to provide equity support up to Rs.1 Crore for up to 49% stake in such start-ups which innovate on products and services for Senior Citizens of India.

Eligibility

• Innovative ideas awarded in the National level innovation challenges such as Smart India Hackathons (of M/o Education) or such other innovative drives – proposing to set up companies and offer products and services for the welfare of the elderly in India.
• Start-ups already functioning in the elderly segment in India proposing to expand operations.All the startups fulfilling the startup norms as per guidelines by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce, Govt. of India are eligible for applying.
• Being incorporated or registered in India for less than ten years from its date of incorporation.
• Annual turnover not exceeding Rs 25 crores in any of the preceding financial years.
• Incorporated as a Company (Private / Public)
• Aims to work towards innovation, development, deployment or commercialization of new products, Solutions, processes or services driven by technology or intellectual property in the realm of elder care.
• It is not formed by splitting up or reconstructing a business already in existence.

Fund / quantum

• Equity support upto Rs.1 Crore

Tenure

• Active

Benefit tags

• Funding

• Equity support upto Rs.1 Crore

• Innovative ideas awarded in the National level innovation challenges such as Smart India Hackathons (of M/o Education) or such other innovative drives – proposing to set up companies and offer products and services for the welfare of the elderly in India.

• Start-ups already functioning in the elderly segment in India proposing to expand operations.All the startups fulfilling the startup norms as per guidelines by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce, Govt. of India are eligible for applying.

• Being incorporated or registered in India for less than ten years from its date of incorporation.

• Annual turnover not exceeding Rs 25 crores in any of the preceding financial years.

• Incorporated as a Company (Private / Public)

• Aims to work towards innovation, development, deployment or commercialization of new products, Solutions, processes or services driven by technology or intellectual property in the realm of elder care.

• It is not formed by splitting up or reconstructing a business already in existence.

• Equity support upto Rs.1 Crore

• Active

Online / portal

Official application / information link: https://www.ifciventure.com/sage-venture-funds/Investment-Process.html

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