Overview

“SIDBI Seed Fund Programme” for iDEX supported MSMEs/startups in defence and related sectors at FIRST (Programme / SPiDeR). The Programme focuses on to promote and accelerate innovation led MSMEs/ start-ups in defence and related sectors selected and supported by iDEX under various challenges with a view to promote import substitution, domestic defence manufacturing and exports.

If you have any questions or need further clarification about the “SIDBI Seed Fund Programme” for iDEX supported MSMEs/startups in defence and related sectors at FIRST (Programme / SPiDeR),
feel free to reach out to: Ashish Sharma Email: [email protected]
Subject Line: Query regarding SIDBI iDEX Seed Fund Program (Name of Startup) We are here to assist you with any information you may need about the program, application process, or eligibility criteria. Don’t hesitate to get in touch!

Focus Sector

  • iDEX referred and supported defence and related sector MSMEs/Startups, to help such enterprises to scaleup and further achieve the objectives of the programme

Eligibility

    MSME/start-ups fulfilling the following criteria shall be considered for support:

  • 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.

Activities MSMEs/Startups that can be funded

    Under the scheme, MSMEs/Startups requiring funds support for the following activities shall be supported:

  • Testing, trails, development and validation of prototypes
  • Industrial product design
  • Technology transfers .
  • Pilot scale manufacturing
  • Field and market trails
  • Product Launch
  • Scale up funding requirements
  • Any other relevant activity/component of the project as found support worthy by the investment committee

Form of Support

    The MSMEs/startups , selected under the programme shall be extended seed fund support in the form of equity/equity like investment ranging between INR 10 Lakhs to INR 150 Lakhs per MSMEs/Startup.

Application Process

  • Call for Application
  • Preliminary Screening & Internal Evaluation of applications based on technological, commercial, managerial and financial metrics of the startup
  • External Evaluation/Presentation to the Investment committee
  • Announcement of selected startups based on IC decision
  • Term sheet signing, Due diligence, other legal documentation
  • Disbursement of investment in one or more milestone-linked tranches, as decided by IC

Contact Us

[email protected]