PARA TECH EXPO has aggregated India’s several credible funds and schemes that support startup innovation, with some specifically targeting sectors like industrial automation. At the Start Up Pavillion there will be a dedicated executive lounge where key personnel representing various credible funds and schemes will be in attendance offering their expert consultancy services.
1. Startup India Seed Fund Scheme (SISFS):
- Overview: Launched in 2021, SISFS provides financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialization.
- Funding: Offers up to ₹20 lakhs for validation of proof of concept and up to ₹50 lakhs for scaling up through convertible debentures or debt-linked instruments.
- Eligibility: Startups recognized by DPIIT, incorporated not more than two years ago at the time of application.
- Application: Startups can apply through selected incubators listed on the Startup India portal. Government of India
2. Fund of Funds for Startups (FFS):
- Overview: Managed by SIDBI, FFS aims to boost the startup ecosystem by providing funding support to various Alternative Investment Funds (AIFs), which in turn invest in startups.
- Funding: The government has committed ₹10,000 crores under this initiative.
- Focus Areas: While not sector-specific, AIFs often invest in technology-driven startups, including those in industrial automation.
- Application: Startups can seek funding by approaching AIFs supported under FFS. Press Information Bureau
3. Credit Guarantee Scheme for Startups (CGSS):
- Overview: Provides credit guarantees to loans extended by member institutions (banks and financial institutions) to startups, facilitating collateral-free funding.
- Funding: Guarantee cover up to ₹5 crores per eligible borrower.
- Eligibility: Startups recognized by DPIIT.
- Application: Startups can apply through member lending institutions.
4. Production-Linked Incentive (PLI) Scheme:
- Overview: Aims to boost domestic manufacturing in key sectors, including electronics and technology products.
- Funding: Offers incentives on incremental sales of products manufactured in India.
- Focus Areas: Sectors like electronics, which overlap with industrial automation components.
- Application: Companies can apply through the Ministry of Electronics and Information Technology.
5. Maharashtra State Innovation Society (MSInS) Initiatives:
- Overview: MSInS offers various programs to foster innovation and support startups within the state.
- Funding: Provides grants and financial assistance to startups and incubators.
- Focus Areas: Encourages innovation across sectors, including industrial automation.
- Application: Startups can apply through the MSInS portal.
6. Technology Development Board (TDB) Financial Assistance:
- Overview: TDB provides financial assistance to companies for commercialization of indigenous technologies.
- Funding: Offers soft loans up to 50% of the project cost.
- Focus Areas: Supports technology-driven startups, including those in industrial automation.
- Application: Startups can apply through the TDB website.
7. SIDBI Make in India Soft Loan Fund for Micro, Small & Medium Enterprises (SMILE):
- Overview: Aims to provide soft loans to MSMEs to meet debt-equity ratio and pursue growth opportunities.
- Funding: Offers loans with a soft tenure and interest rates.
- Focus Areas: Supports manufacturing and service sectors, including industrial automation.
- Application: Startups can apply through SIDBI.