SIDBI Seed Fund Programme (via SIIC, IIT Kanpur)

SIDBI Seed Fund Programme
(via SIIC, IIT Kanpur)

Overview

The SIDBI Seed Fund Programme (under the FIRST/SPiDeR initiative) is a specialised seed-funding program by SIDBI, aimed at iDEX-supported MSMEs and startups operating in the defence and related sectors. It enables promising ventures—especially those involved in import substitution, domestic defence manufacturing, and exports—to scale up with the help of equity or equity-like investments through SIIC, IIT Kanpur.

Focus Sector

  • Targeted at MSMEs and startups engaged in defence and allied sectors.
  • Must be referred by iDEX and supported under the FIRST/SPiDeR program.

Eligibility Criteria

Eligible entities must meet all of the following:

  • Both incubatee and non-incubatee start-ups referred by iDEX shall be eligible for consideration under the Programme.
  • Should be an Indian entity and a private limited company incorporated at least 1 (one) year prior to submitting the request for Seed Fund.
  • Should have been an iDEX challenge winner.
  • Should have been referred by iDEX for support to FIRST.
  • Should have received grant support from iDEX..
  • should be registered / recognized as a “startup” with DPIIT.

Funded Activities

Startups can receive support for a variety of stages, including:
  • Prototype testing, development, validation, and pilot-scale manufacturing
  • Industrial product design, technology transfers, product launch, and field trials
  • Scale-up requirements and other relevant R&D or commercialization activities authorized by the Investment Committee

Form of Support

  • Funding is provided as equity or equity-like instruments, with investment ranging from â‚ą10 lakh to â‚ą150 lakh per startup/MSME.

Application & Selection Process

  1. Call for Applications announced by SIIC, IIT Kanpur.
  2. Preliminary screening of applications based on technical, commercial, managerial, and financial merits.
  3. External evaluation/presentation to the Investment Committee.
  4. Final selection followed by term sheet signing, due diligence, and documentation.
  5. Disbursement of funds in one or more milestone-linked tranches, as decided by the Investment Committee.
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