SEED Support

BIRAC - SEED (Sustainable Entrepreneurship and Enterprise Development) Fund

Savli Technology and Business Incubator is hosting a seed fund under the scheme "Sustainable Entrepreneurship and Enterprise Development Fund" ("SEED Fund") of the Biotechnology Industry Research Assistance Council (BIRAC).

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.

Quantum of financial assistance to one startup will be up to Rs 25-30 lakh

Broad Areas to be covered under the financial assistance include:

  • Product development
  • Testing and trials
  • Test Marketing
  • Mentoring
  • Professional Consultancy ( To attract Professors of institutions to work with small firms)
  • IPR issues
  • Man power for day to day operations

Any other area as deemed necessary and recommended by the Management Committee.

The SEED fund is only for start ups with minimum 51% ownership by Indian citizens (does not include OCI or PIO) and under BIRAC SEED Fund, a company will be considered as start up,

  • Up to 5 years from the date of its incorporation
  • It is working towards innovation development, deployment or commercialization of new products, processes or services driven by technology or intellectual property.
  • If its turnover for any of the financial years has not exceeded Rs 25 cr

Typical terms for seed funding:

  • Selected Startup should be resident/Associate Incubatee of STBI at the time of seed fund investment
  • Investment mode: Equity ownership in a private limited company
  • Equity stake for seed fund: Up to 6-10%
  • Investment amount: Up to 30 lakh
  • Interested start-ups are encouraged to contact STBI for further information @ 
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