Funding Options

Primary Funding : There are several funding options available for companies incubated at IIT Kanpur.

  • Seed Funds – SIIC may provide seed loan subject to the availability of funds/ grants/ schemes meant for this purpose. Seed loan will be sanctioned only to the registered companies and shall be based on the merits of each company. Further, the admission to SIIC shall not automatically entitle the companies to seed loan.

Further details are available at Availing Seed Fund.

  • PRISMPRISM (Promoting Innovations in Individuals, startups and MSMEs) is a scheme launched by DSIR (Department of Science & Industrial Research) to support individual innovators with financial grants.

Under this scheme, the funds are directly given to the innovators with centres like SIIC, IITK playing the role of a processing and monitoring agency. PRISM offers a grant of maximum amount of Rs.50 lakh for developing prototypes under different categories. The proposals shall preferably be considered under the following focus sectors:                                   

  • Green Technology.
  • Clean Energy.
  • Industrially Utilizable Smart Materials.
  • Waste to Wealth.
  • Affordable Healthcare.
  • Water & Sewage Management.
  • Any other technology or knowledge intensive area.

 

Under this scheme, it provides early stage funding for nurturing innovative business ideas (new indigenous technology, processes, products, procedure etc.) which could be commercialized in a year. The main objective is to promote development of knowledge-based innovative ventures and to improve the competitiveness and survival instincts of the Micro, Small and Medium Enterprises (MSMEs).

  • DIT Support – Department of Information & Technology supports R&D projects in industries (public and private Sector), academic institutes, research labs in the identified thrust area related to Information Technology (Hardware / Software), Information and Broadcasting, Industrial Electronics, Consumer Electronics, Microelectronics & Photonics, Capital Good Development, Strategic Electronics, Communications, Rural Application, Health & Biotechnology, Components including microwaves & millimetre waves and Materials.

 

Second Stage Funding - SIIC assists the incubated companies in availing more funds from the following agencies:

  • Banks such as SIDBI Risk Capital/Venture fund,

  • Angel and Venture Investors,

  • Government funding such as TDB, BIRAC, SIDBI-TIFAC revolving fund in form of loan or equity participation,

  • Strategic Stake from Industry. 

SIIC has created two venture funds as a part of the Motwani Ideation Accelerator:

  • Rajeev Motwani Impact Fund – It is meant to support ground breaking ideas specifically that target to benefit the bottom half of the economic pyramid, for e.g. startup dealing with poverty alleviation, non-formal learning/education/tech for the poor, mobile health support.

  • Rajeev Motwani Venture Fund – It is meant to encourage ideas emerging from Indian academia to help the creation of the next generation mobile internet and health technologies.

 

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