StartupJK

Introduction

Easy availability of capital is essential for entrepreneurs at the early stages of growth of an enterprise.
Funding from angel investors and venture capital firms becomes available to startups only after the proof of concept has been provided. Similarly, banks provide loans only to asset-backed applicants. It is essential to provide seed funding to startups with an innovative idea to conduct proof of concept trials
Startups recognized by JKEDI are eligible for a one-time assistance of up to ₹20 lakhs, disbursed in 4 equal installments. This seed funding supports activities such as developing prototypes, launching innovative products or services, marketing, and scaling up ventures. The funding is provided based on the evaluation criteria outlined in the Start-up Policy operational guidelines and is subject to progress monitored by JKEDI or the concerned Incubator. All funding cases are appraised and approved by the Start-up Task Force Committee.

Objectives

The J&K startup ecosystem faces significant capital inadequacy during the seed and ‘Proof of Concept’ development stages. The necessary capital at this stage often determines the success or failure of startups with promising business ideas. Many innovative business concepts fail to launch due to the lack of early-stage funding for proof of concept, prototype development, product trials, market entry, and commercialization. Providing seed funds to these promising startups can validate their business ideas, leading to employment generation and overall economic growth.

Eligibility Criteria

The seed funding shall be provided to eligible startups based on the evaluation by the Screening Committee and further approval by the Startup Task Force Committee.

A Startup registered on J&K Startup Portal and recognised by Nodal Agency.
Startup will receive seed fund only once from JKEDI. Further, entity or any of its partners having partnership stake more than 49% should not have received seed fund earlier under any of the scheme from JKEDI and must not be a defaulter with JKEDI.

Screening Committee

The approval committee has following members.

S NO.	Committee Member	Position
1	Director, JKEDI/Nodal Officer J&K Startup Policy	Chairman
2	Representative(s) from Incubator(s) / Innovation Cell(s) - Member to be nominated by the Nodal Agency (Two from Jammu & Two from Kashmir) in rotation.	Member
3	Representative from DPIIT/Startup India	Member (optional/Virtual)
4	Representative from Chamber of Commerce/Industrial Associates	Member
5	Representative of various Startup Accociation to be nominated by the Nodal Agency	Invitee Member
6	Leading business Woman	Invitee Member
7	In-charge CIIBM, JKEDI	Member Secretary
8	Experts from Government, academia, Investors, Industrialists and think tanks may be co-opted as and when required.	Need-Based Member

Startup Task Force

The Startup Task Force(STF) committee has following members.

S NO.	Committee Member	Position
1	Administrative Secretary, l&C Department	Chairman
2	Director, JKEDI	Member Secretary
3	Spl./ Additional Secretary, I & C Department	Member
4	Representatives from incubators	Member
5	J&K Diaspora experts working in multinational companies	Invitee Member
6	Representative from the Leading Start-ups/Incubators of India	Invitee Member
7	Leading Investor (Venture Capital Firm/Angel Investor) from J&K	Invitee Member
8	A Leading Startup from J&K	Invitee Member
9	Experts from Academia, Government, Investors, Industrialists and think tanks may be coopted as and when required	Optional Member

Seed Fund Operating Guidlines

Coming soon...

Frequently Asked Questions

The Scheme and Eligibility Criteria:

Q: What is Seed Fund Scheme?
- Seed Fund Scheme provides financial assistance to startups for proof of concept, prototype development, product trials, market-entry, and commercialization. Eligible startups can apply for the scheme on the Startup India portal. The Seed Fund will be disbursed to selected startups through Nodal Agency JKEDI as per Startup Operational Guidelines.
Q: Who can apply to SISFS?
- i: A startup, recognized on J&K Startup Portal by JKEDI,
  ii: Startup will receive seed support only once from JKEDI. Further, the entity or its promoter having partnership more than 49% should not have received seed fund earlier under any scheme from JKEDI and must not be a defaulter with JKEDI.
Q: How much seed funding can a startup receive under the scheme?
- Startups recognized by JKEDI are eligible for a one-time assistance of up to ₹20 lakhs, disbursed in 4 equal installments.
Q: Are there any minimum education qualification criteria for founders to apply for Seed Fund?
- There is no minimum education qualification required for founders to apply for Seed Fund.
Q: Are there any exemptions to any of the eligibility criteria?
- No, there are no exemptions to any of the eligibility criteria. All the criteria must be met on the date of application submission.
Q: What is a Startup-recognized under J&K startup Policy?
- An entity is recognized on J&K Startup portal once registered and fulfilling following eligibility .
Q: What all can I use the seed fund for?
- Seed fund shall strictly not be used by startups for creation of any facilities and shall be utilized for the purpose it has been granted for. A grant can be used for validation of Proof of Concept, or prototype development, or product trials. A debt/ convertible debenture can be used for Market entry, Commercialization, or Scaling up
Q: What all can I use the seed fund for?
- Seed fund shall strictly not be used by startups for creation of any facilities and shall be utilized for the purpose it has been granted for. A grant can be used for validation of Proof of Concept, or prototype development, or product trials. A debt/ convertible debenture can be used for Market entry, Commercialization, or Scaling up

Application Process:

Q: How can I apply to Seed Fund?
- The Nodal agency shall invite application for Seed Funding through advertisement as per the Startup Policy. The registrations for the Seed Funding shall be invited through online portal for a period one month and shall be screened by the Screening Committee.
Q: Is the Seed Fund application process completely online?
- The application submission is completely online, and no physical submission of documents is required.
Q: Is there a fee for applying to this scheme?
- There are no application fees for the scheme. Even after the selection of a startup by an Nodal Agency for assistance under this scheme, the startup shall not be charged any fees. The Nodal Agency or any of its staff members shall not charge any fee in cash or in kind from applicants or beneficiaries under the scheme for any process of selection or disbursement.
Q: Is the information provided by me in the application form kept confidential?
- We maintain confidentiality of all the proposals we receive under the scheme. Your application is only shared with the Nodal Agency, Screening Committee for the purpose of evaluation, and with the Startup Task Force for the purpose of Approval.
Q: Can I apply to the Startup India Seed Fund Scheme again after receiving a rejection?
- All the applications that are not approved will be mailed with the reasons for the same and are expected to work on improving it. They can reapply for the grant in the next cycle. If the application is still found unsuitable for disbursement of grant, a cooling off period of 3 months is required before they can apply again.

Seed Fund Scheme