Building BusinessServices

Section 40

Funding & Investors

Money beyond the bank loan: government grants, seed funds, startup loans, angel networks and incubators in every state. Each with who can apply, how much and the official page.

funding options
32
incubators
105
states covered
27

Amounts are as published by each programme. Programmes open and close in rounds; check the official page for the current call. (Checked: 21 October 2026)

Grants

8
Idea · Early

Startup India Seed Fund Scheme (SISFS)

The scheme gave seed money to startups through selected incubators, not directly. The whole ₹945 crore was committed to 219 incubators, and more than 3,400 startups were approved for over ₹605 crore. The last date for startups to apply was 31 May 2026; the scheme now runs only to finish payments already approved.

AmountUp to ₹20 lakh grant for proof of concept, prototype or product trials; up to ₹50 lakh as convertible debentures or debt for market entry. Closed to new applications since 31 May 2026.Who can apply and howClose

Who can apply

DPIIT-recognised startups incorporated not more than 2 years before applying, using technology in their product, service or business model, that had not received more than ₹10 lakh from other Central or State schemes.

How to apply

  1. Do not apply now: the portal stopped taking new startup applications on 31 May 2026.
  2. If you were already selected, keep meeting the milestones agreed with your incubator to receive the remaining instalments.
  3. Watch the Startup India portal and seedfund.startupindia.gov.in for any successor seed scheme.
Sources (3)
  1. Guidelines for Startup India Seed Fund Scheme · 2021
  2. Playbook of Government Schemes and Initiatives for Startups (June 2026) · 2026
  3. 55,200+ startups recognised in FY 2025-26 (status of FFS, SISFS and CGSS) · 2026
Idea

BIRAC Biotechnology Ignition Grant (BIG)

BIG is the flagship early-stage programme of BIRAC, a public-sector company under the Department of Biotechnology. It funds research projects with commercial potential, and BIRAC adds mentoring, investor and industry connections during the grant period.

AmountUp to ₹50 lakh grant-in-aid for up to 18 months to reach proof of concept.Who can apply and howClose

Who can apply

Individual entrepreneurs and young startups in biotechnology; the applicant must be incubated in an incubator (BIRAC-supported or not).

How to apply

  1. Join an incubator if you are not already in one.
  2. Watch for the BIG call: BIRAC announces it at least twice a year, typically on 1 January and 1 July, and keeps it open for 30 to 45 days.
  3. Apply online only, on the BIRAC website (birac.nic.in), following the current BIG guidelines.
Sources (2)
  1. Biotechnology Ignition Grant Scheme (BIG) · 2026
  2. Playbook of Government Schemes and Initiatives for Startups (June 2026) · 2026
Idea

DST NIDHI PRAYAS 2.0

PRAYAS is a pre-incubation programme of the Department of Science & Technology that funds the jump from idea to working prototype. It runs through incubators called PRAYAS Centres; DST gives each centre up to ₹2 crore a year (₹4 crore for Advanced Centres).

AmountUp to ₹20 lakh grant for prototyping at a PRAYAS Centre; up to ₹40 lakh at an Advanced PRAYAS Centre (deep tech).Who can apply and howClose

Who can apply

Individual innovators, or DPIIT-recognised startups not more than 5 years old whose turnover never exceeded ₹1 crore in any year.

How to apply

  1. Find a PRAYAS Centre near you on the NIDHI PRAYAS portal (nidhi-prayas.org).
  2. Apply to that centre when it opens a call, with a clear prototype plan and budget.
  3. If selected, build the prototype at or with the centre, which manages the grant and reports to DST.
Sources (2)
  1. Playbook of Government Schemes and Initiatives for Startups (June 2026) · 2026
  2. NIDHI PRAYAS 2.0 programme guidelines (2026) · 2026
Idea

DST NIDHI Entrepreneur in Residence (EIR)

EIR is a fellowship that pays you a monthly amount while you work on your idea instead of taking a job. It runs at selected NIDHI Technology Business Incubators, which also give co-working space and mentoring; each selected incubator gets ₹39.6 lakh a year, of which ₹36 lakh goes to the fellows.

Amount₹10,000 to ₹30,000 a month for 12 months, extendable to 18 months.Who can apply and howClose

Who can apply

Indian citizens with a technology business idea who have a 4-year degree, or a 3-year degree or diploma plus 2 years of full-time work experience.

How to apply

  1. Find NIDHI incubators that run EIR (programme executing partners) on the NIDHI website.
  2. Watch for the incubator's local EIR call.
  3. Apply in the format the incubator prescribes, with your idea and education and work details.
Sources (1)
  1. Playbook of Government Schemes and Initiatives for Startups (June 2026) · 2026
Early

DST NIDHI Seed Support Program (NIDHI-SSP)

DST gives seed money to selected incubators, which pass it to their incubated startups for product development, testing and trials, test marketing, mentoring, expert consultancy and IP work.

AmountFrom ₹25 lakh to ₹1 crore of seed support (as listed by Kerala Startup Mission); the amount is set by each incubator's Seed Support Management Committee.Who can apply and howClose

Who can apply

DPIIT-recognised startups that have been resident for at least three months at a DST-backed incubator (TBI or STEP), with at least 51% held by Indian promoters.

How to apply

  1. Find an incubator that runs NIDHI-SSP; DST publishes the list of these incubators on the NIDHI website.
  2. Join it as an incubatee and complete at least three months of residency.
  3. Apply to the incubator's Seed Support Management Committee with your product plan and funding need.
Sources (3)
  1. Playbook of Government Schemes and Initiatives for Startups (June 2026) · 2026
  2. List of incubators implementing NIDHI-SSP as on 31.07.2025 · 2025
  3. Early Stage Funding (grant ladder) · 2026
Idea · Early

MeitY TIDE 2.0 (Technology Incubation and Development of Entrepreneurs)

TIDE 2.0 is run by the Ministry of Electronics and IT through incubators across India. It combines small grants for early proof and prototypes with a larger investment for building and selling the product.

AmountUp to ₹4 lakh for idea to proof of concept; up to ₹7 lakh for prototype; up to ₹40 lakh investment for product development and market outreach.Who can apply and howClose

Who can apply

IT-based, DPIIT-recognised startups.

How to apply

  1. Open the MeitY Startup Hub (msh.meity.gov.in) and see the list of TIDE 2.0 incubators.
  2. Pick the incubator that best fits your technology and apply to it.
  3. If selected, the incubator releases support in stages as you move from proof of concept to prototype to market.
Sources (1)
  1. Playbook of Government Schemes and Initiatives for Startups (June 2026) · 2026
Early

IN-SPACe Seed Fund Scheme

IN-SPACe, under the Department of Space, promotes and authorises private space activity. Its seed fund backs startups moving a space-tech idea from concept to prototype, along with mentoring and training.

AmountGrant of ₹1 crore to selected startups, released on milestones.Who can apply and howClose

Who can apply

DPIIT-recognised early-stage space-technology startups that have not received more than ₹50 lakh from any Central or State scheme.

How to apply

  1. Watch the 'Announcement of Opportunities' page on the IN-SPACe website.
  2. Apply under the seed fund call when it is announced.
  3. If selected, plan your work in milestones, because the grant is paid milestone by milestone.
Sources (1)
  1. Playbook of Government Schemes and Initiatives for Startups (June 2026) · 2026
Idea

Gujarat Student Start-up and Innovation Policy (SSIP 2.0)

SSIP 2.0, issued by Gujarat's Education Department in January 2022, funds student innovation through schools, colleges and universities. It aims to support 500 startups under Start-up Srujan Seed Support (run by i-Hub) and to incubate 500 startups.

AmountUp to ₹2.5 lakh per proof of concept or prototype for college students and alumni (₹20,000 for Class 9 to 12 students); IP support up to 100% of expenses; Start-up Srujan Seed Support of ₹2.5 lakh to ₹10 lakh.Who can apply and howClose

Who can apply

Anyone up to 35 years of age who is a school student, a diploma, vocational, UG, PG or doctoral student or alumnus, or a dropout, working on a new product, process, service or scalable business.

How to apply

  1. Check whether your school, college or university is an SSIP participating institution.
  2. Submit your proof-of-concept or prototype proposal through your institution's SSIP cell; an institution-level committee screens it.
  3. For the larger Srujan Seed Support, apply through i-Hub Gujarat when calls are open.
Sources (1)
  1. Student Start-up and Innovation Policy (SSIP 2.0) · 2022

Government funds

3
Early · Growth

Fund of Funds for Startups (FFS 1.0) and Startup India Fund of Funds 2.0 (SIDBI)

SIDBI puts government money into venture funds, and those funds invest in startups. Under FFS 1.0 each fund had to invest at least twice the FFS money in startups; funds backed by FFS have invested more than ₹26,900 crore in over 1,420 startups. FoF 2.0 favours deep tech, early-growth startups backed by smaller funds, and technology-driven manufacturing.

Amount₹10,000 crore under FFS 1.0 (fully committed) plus ₹10,000 crore under FoF 2.0 (notified 13 April 2026). The money goes to SEBI-registered venture funds, not to startups directly.Who can apply and howClose

Who can apply

DPIIT-recognised startups that can raise equity from venture capital funds. Only SEBI-registered Alternative Investment Funds (AIFs) apply to SIDBI.

How to apply

  1. Get DPIIT startup recognition first.
  2. Find venture funds that have taken money from SIDBI's Fund of Funds; SIDBI lists its commitments on sidbivcf.in.
  3. Pitch to those funds directly with your business plan and numbers; SIDBI does not take applications from startups.
  4. If you run a venture fund (not a startup), apply for capital on SIDBI's fund application portal, vcfapplication.sidbi.in.
Sources (5)
  1. Fund of Funds for Start-ups (FFS) · 2026
  2. Cabinet approves Startup India Fund of Funds 2.0 · 2026
  3. Government notifies Startup India Fund of Funds 2.0 with Rs 10,000 crore corpus · 2026
  4. 55,200+ startups recognised in FY 2025-26 (status of FFS, SISFS and CGSS) · 2026
  5. Playbook of Government Schemes and Initiatives for Startups (June 2026) · 2026
Early

BIRAC Incubator SEED Fund

BIRAC places seed money with selected incubators, which invest it in their biotech startups. The aim is to make these startups ready to raise money from angel investors, venture funds or banks.

AmountUp to ₹30 lakh per startup as equity or equity-linked investment, through BIRAC partner incubators.Who can apply and howClose

Who can apply

Biotech, medtech and life-sciences startups in their first phase of operations.

How to apply

  1. Check the list of incubators that run the SEED Fund on BIRAC's SEED Fund page.
  2. Apply to one of those incubators for incubation and seed investment under its call.
  3. Expect to give the incubator equity or an equity-linked instrument in return.
Sources (2)
  1. Playbook of Government Schemes and Initiatives for Startups (June 2026) · 2026
  2. BIRAC SEED Fund · 2026
Idea · Early · Growth

MeitY GENESIS (Gen-Next Support for Innovative Startups)

GENESIS is a MeitY scheme to spread startup support beyond the big metros. It funds implementing agencies, which then give startups money, mentors and access to labs and other facilities.

AmountInvestment and pilot funding from ₹10 lakh for early-stage startups up to ₹1 crore for deep-tech startups.Who can apply and howClose

Who can apply

Technology startups in Tier-II and Tier-III cities, reached through about 50 implementing agencies (incubators, accelerators, universities).

How to apply

  1. Check the GENESIS page on the MeitY Startup Hub for the implementing agencies near you.
  2. Apply to that agency's startup programme when it opens.
  3. Incubators and other ecosystem bodies (not startups) can apply to become implementing agencies through the same page, all year round.
Sources (2)
  1. Playbook of Government Schemes and Initiatives for Startups (June 2026) · 2026
  2. GENESIS brochure · 2024

Incubation programmes

5
Growth

MeitY SAMRIDH accelerator programme

SAMRIDH funds not-for-profit accelerators to help IT startups scale through customer, investor and international connections. The accelerator gets up to ₹2 lakh per startup (maximum ₹20 lakh per cohort) for its services, and the startup gets the government investment matched by the accelerator or an investor.

AmountUp to ₹40 lakh investment per startup (average ₹30 lakh per startup per cohort), matched by an equal private investment of up to ₹40 lakh.Who can apply and howClose

Who can apply

IT-based startups selected by a SAMRIDH-supported accelerator.

How to apply

  1. See the list of SAMRIDH accelerators on the MeitY Startup Hub.
  2. Choose an accelerator suited to your product and stage, and apply to its cohort.
  3. Be ready for valuation-based investment: the matching private money is invested based on your current valuation and growth stage.
Sources (1)
  1. Playbook of Government Schemes and Initiatives for Startups (June 2026) · 2026
Idea · Early

STPI Next Generation Incubation Scheme (NGIS)

Software Technology Parks of India (STPI), under MeitY, runs NGIS to build software product startups in smaller cities. It aims to support 300 startups across 12 STPI incubation centres in Tier-II and Tier-III cities.

AmountSeed or risk funding up to ₹25 lakh for promising startups, plus incubation space and mentoring.Who can apply and howClose

Who can apply

Startups building software products or technology solutions; DPIIT-recognised startups are encouraged, and individuals or firms may need to form a private limited company if selected.

How to apply

  1. Watch the STPI startup portal (startup.stpi.in) for open calls.
  2. Apply online during the call to the STPI centre you want to join.
  3. If selected, register as a private limited company if you are not one already.
Sources (1)
  1. Playbook of Government Schemes and Initiatives for Startups (June 2026) · 2026
Idea · Early

Atal Incubation Centres (AIM, NITI Aayog)

Atal Innovation Mission funds universities, research bodies, companies and others to run Atal Incubation Centres. AIM's published list shows 93 established AICs across India. Each AIC sets its own intake, fees and terms for startups.

AmountThe grant goes to the incubator, not to you: up to ₹5 crore (₹10 crore with sector labs) over 5 years. Startups get space, labs, mentors and access to seed capital.Who can apply and howClose

Who can apply

Innovative startups that want a physical incubator with sector expertise; institutions can apply to AIM to set up an AIC.

How to apply

  1. Open AIM's list of established Atal Incubation Centres and find the ones in your state or sector.
  2. Visit the AIC's own website and apply to its incubation programme when intake is open.
  3. Ask the AIC which seed funds or government schemes it can connect you to.
Sources (2)
  1. Playbook of Government Schemes and Initiatives for Startups (June 2026) · 2026
  2. List of established Atal Incubation Centres · 2026
Idea

Atal Community Innovation Centres (ACIC)

ACICs bring basic innovation infrastructure and training to places with little startup support. They are hosted by universities, ITIs, diploma colleges or voluntary organisations working in science and technology.

AmountUp to ₹2.5 crore per centre in tranches; AIM pays 50% and the host matches the rest. Founders use the centre's facilities.Who can apply and howClose

Who can apply

Would-be entrepreneurs in underserved and aspiring regions; host institutions must be at least 3 years old.

How to apply

  1. Look up ACICs on the Atal Innovation Mission website (aim.gov.in).
  2. Contact the nearest ACIC through its host institution and join its programmes.
  3. Institutions wanting to host an ACIC apply online on aim.gov.in when calls are open.
Sources (2)
  1. Playbook of Government Schemes and Initiatives for Startups (June 2026) · 2026
  2. Revised ACIC guidelines (June 2022) · 2022
Idea · Early · Growth

T-Hub, Hyderabad (Telangana)

T-Hub is a startup hub in Hyderabad. It is an Atal Incubation Centre (since 2019) and hosts MATH, a DST NIDHI Centre of Excellence for AI and machine learning. It says it serves more than 10,000 startups.

AmountT-Hub does not publish a standard grant amount; it offers programmes, mentoring, investor and corporate connections, and workspace.Who can apply and howClose

Who can apply

Startups at any stage that want programmes, mentors and investor access in Hyderabad.

How to apply

  1. See the current programmes listed on t-hub.co.
  2. Apply to the programme that fits your stage and sector.
  3. For AI or machine-learning products, also look at the MATH programme run within T-Hub.
Sources (3)
  1. T-Hub home page · 2026
  2. List of established Atal Incubation Centres · 2026
  3. List of NIDHI Centres of Excellence (updated April 2024) · 2024

Loans and guarantees

2
Early · Growth

Credit Guarantee Scheme for Startups (CGSS)

The government trust NCGTC guarantees part of your loan so the lender can lend without full collateral. For bank and NBFC loans it covers 85% of the default amount on loans up to ₹10 crore and 75% above that. The yearly guarantee fee is 2% (1.5% for North-East units and women entrepreneurs, 1% in the 27 Champion Sectors), and the lender still decides whether to lend.

AmountGuarantee cover up to ₹20 crore per borrower on loans from banks, NBFCs and venture-debt funds.Who can apply and howClose

Who can apply

DPIIT-recognised startups that are not in default and not an NPA, borrowing from a lender registered with NCGTC (banks, eligible NBFCs, SEBI-registered AIFs).

How to apply

  1. Get DPIIT startup recognition.
  2. Approach a bank, NBFC or venture-debt fund that is a member lender under CGSS, or apply through the Jan Samarth portal.
  3. The lender checks your business, sanctions the loan and applies for the guarantee on the NCGTC portal; you do not apply to NCGTC yourself.
Sources (3)
  1. FAQ on Credit Guarantee Scheme for Startups (amended as on 8 May 2025) · 2025
  2. Credit Guarantee Scheme for Startups · 2026
  3. 55,200+ startups recognised in FY 2025-26 (status of FFS, SISFS and CGSS) · 2026
Early · Growth

SIDBI: direct MSME loans and state startup funds

SIDBI, the government's development bank for small industry, lends directly to MSMEs and also refinances banks and NBFCs. It runs the Udyamimitra portal for scheme loans such as MUDRA and Stand-Up India. It also manages state 'fund of funds' for Uttar Pradesh and Odisha, which invest only through SEBI-registered venture funds, not directly in startups.

AmountNot published: SIDBI does not print loan limits or interest rates on its product pages. State funds it manages include the ₹1,000 crore UP Startup Fund and the ₹100 crore Odisha Startup Growth Fund.Who can apply and howClose

Who can apply

MSMEs and startups that need machinery, project or working-capital loans; for the state funds, startups registered in that state that can raise venture capital.

How to apply

  1. For a direct SIDBI loan, apply on SIDBI's online loan application portal (onlineloanappl.sidbi.in).
  2. For MUDRA, Stand-Up India and similar scheme loans, apply through the Udyamimitra portal, which sends your request to lenders.
  3. For the UP or Odisha state funds, pitch to the venture funds that SIDBI has backed under those funds (listed on sidbivcf.in).
Sources (4)
  1. SIDBI home page · 2026
  2. SIDBI online loan application · 2026
  3. Fund of Funds - UPSF (UP Startup Fund) · 2026
  4. Fund of Funds - OSGF (Odisha Startup Growth Fund) · 2026

State startup funds

6
Idea · Early · Growth

Kerala Startup Mission (KSUM) grants, loans and Fund of Funds

KSUM is the Kerala government's startup agency. It runs a grant ladder that matches each stage, soft loans, a women's soft-loan scheme and patent reimbursement. Since 2018 it has also invested as a limited partner in 16 SEBI-registered venture funds that back Kerala startups.

AmountIdea Grant up to ₹3 lakh; Productisation Grant up to ₹7 lakh (up to ₹12 lakh for women/transgender-led); Market Acceleration up to ₹10 lakh; Scale-up Grant up to ₹15 lakh; Seed Loan up to ₹15 lakh; Scale-up Seed Fund up to ₹25 lakh.Who can apply and howClose

Who can apply

Innovators and startups in Kerala, from idea stage to growth; company incorporation and a KSUM Unique ID are needed before money is released.

How to apply

  1. Register your startup with KSUM to get a KSUM Unique ID.
  2. Pick the grant or loan for your stage on KSUM's Early Stage Funding page and apply online when the call is open.
  3. If approved, submit documents (KSUM lists incorporation papers, PAN, bank details, CA certificates and recent balance sheets) and sign an agreement with KSUM.
  4. Money is released in milestone-based tranches; KSUM says generally 50% first and the rest after a progress review.
Sources (3)
  1. Early Stage Funding · 2026
  2. Women/Transgender Productisation Grant · 2026
  3. Fund of Funds · 2026
Idea · Early

Karnataka ELEVATE grant-in-aid

ELEVATE is the Karnataka IT/BT department's flagship grant for prototypes, proof of concept and scaling up. It also opens the door to reimbursements under the Karnataka Startup Policy 2022-27 for patents, marketing, GST and quality certification. By May 2026 the department had completed 24 calls, and a new call with four tracks (General, Shakti, Unnati, Aspire) opened on 25 May 2026.

AmountOne-time grant of up to ₹50 lakh per startup.Who can apply and howClose

Who can apply

Early-stage startups in Karnataka; separate tracks for women-owned (at least 51%), SC/ST founders, startups in Tier-II and Tier-III regions, and minority founders.

How to apply

  1. Register as a startup with the Karnataka Startup Cell (Mission Startup Karnataka).
  2. Apply online on the official portal when an ELEVATE call is open, choosing the track that fits you.
  3. Pitch to the selection panel if shortlisted; selected startups also get mentoring and incubation links.
Sources (2)
  1. Karnataka invites startups for Elevate scheme with grants up to INR 50 lakh · 2026
  2. Karnataka launches 22nd call for applications under ELEVATE startup grant programme (PTI) · 2025
Idea · Early

Uttar Pradesh startup policy incentives and UP Startup Fund

The UP Startup Policy pays startups in stages, from a monthly allowance to prototype and launch money, and reimburses patent costs (up to ₹2 lakh Indian, ₹10 lakh international). Startups with women, transgender or divyang co-founders holding over 26%, or based in Purvanchal or Bundelkhand, or in sectors such as rural impact and renewable energy, get 50% more on the allowance and seed capital. StartInUP is moving to a new UP Startup Mission platform.

AmountSustenance allowance ₹17,500 a month for one year; prototype grant up to ₹5 lakh; seed capital or marketing assistance up to ₹7.5 lakh; plus a ₹1,000 crore UP Startup Fund (via SIDBI).Who can apply and howClose

Who can apply

Startups recognised on the state's StartInUP portal; for the fund, startups registered in Uttar Pradesh.

How to apply

  1. Register your startup on the StartInUP portal (being moved to the UP Startup Mission website) and get state recognition.
  2. Apply for the incentive that fits your stage (sustenance allowance, prototype grant, seed capital or patent support) through the portal.
  3. For equity, pitch to the venture funds backed by the UP Startup Fund, listed on SIDBI's sidbivcf.in.
Sources (3)
  1. State Startup Policy · 2026
  2. StartInUP home page (incentive disbursement figures) · 2026
  3. Fund of Funds - UPSF (UP Startup Fund) · 2026
Early

Tamil Nadu Startup Seed Grant Fund (TANSEED)

TANSEED is the Tamil Nadu government's equity-linked seed grant, run by StartupTN in editions. The eighth edition (TANSEED 8.0) took applications from 6 to 20 December 2025. Selected startups also join an accelerator programme.

AmountUp to ₹15 lakh for green-tech, rural-impact and women-led startups; up to ₹10 lakh for others. StartupTN takes a 3% stake.Who can apply and howClose

Who can apply

Startups registered in Tamil Nadu, enrolled with StartupTN and recognised by DPIIT.

How to apply

  1. Register your startup with StartupTN and get DPIIT recognition.
  2. Watch StartupTN for the next TANSEED edition and apply online during its short window.
  3. If selected, agree to StartupTN's 3% stake and join its accelerator programme.
Sources (1)
  1. TN govt invites applications from startups for Rs 15 lakh support (TANSEED 8.0) · 2025
Idea · Early

Maharashtra Startup, Entrepreneurship and Innovation Policy 2025 (MSInS)

Approved by the state cabinet on 5 August 2025, the policy aims to nurture 1.25 lakh entrepreneurs and recognise 50,000 startups in five years. It is implemented by the Maharashtra State Innovation Society (MSInS) and reimburses patent and quality-certification costs, with loan help for startups holding confirmed work orders.

Amount₹500 crore Chief Minister's Maha-Fund for 25,000 early-stage entrepreneurs; pilot work orders up to ₹25 lakh through Maharashtra Startup Week.Who can apply and howClose

Who can apply

Early-stage entrepreneurs and startups in Maharashtra.

How to apply

  1. Follow MSInS (msins.in) for open calls under the new policy and the Maha-Fund.
  2. Apply to Maharashtra Startup Week when it opens if you have a working product that a government department could pilot.
  3. Keep bills for patents and certifications so you can claim reimbursement under the policy.
Sources (1)
  1. Maharashtra cabinet unveils startup policy to nurture entrepreneurs (PTI) · 2025
Early · Growth

Odisha Startup Growth Fund (OSGF)

OSGF was set up by Startup Odisha, under the state MSME Department, as a fund of funds. SIDBI operates and manages it and commits money to venture funds that invest in Odisha startups across sectors.

AmountInitial corpus of ₹100 crore, invested through SEBI-registered 'daughter' venture funds, not directly in startups.Who can apply and howClose

Who can apply

Startups in Odisha that meet the fund's criteria and can raise venture capital.

How to apply

  1. Register with Startup Odisha and get DPIIT recognition.
  2. Find the venture funds backed by OSGF on sidbivcf.in.
  3. Pitch to those funds; they decide on investment, not SIDBI or the state.
Sources (1)
  1. Fund of Funds - OSGF (Odisha Startup Growth Fund) · 2026

Angel networks

4
Early

Indian Angel Network (IAN Group)

IAN is a network of angel investors that also runs funds (IAN Fund 1, IAN Alpha Fund and an IAN Angel Fund). It says it offers money, mentoring and market access. Its incubation arm, IAN Mentoring and Incubation Services in New Delhi, appears in DST's list of technology business incubators.

AmountAs published by IAN: more than ₹1,500 crore invested in more than 273 companies over 20+ years. Cheque size per deal is not published.Who can apply and howClose

Who can apply

Early-stage technology-driven companies targeting large markets.

How to apply

  1. Prepare a short business plan or pitch deck.
  2. Submit it through the 'submit plan' form on IAN's website (iangroup.vc/submit-plan).
  3. If shortlisted, pitch to member investors; expect to give equity and to negotiate valuation.
Sources (2)
  1. IAN Group home page · 2026
  2. DST NIDHI: TBI list for website · 2023
Early

Mumbai Angels Network

Mumbai Angels pools money from member angel investors into early-stage startups. Founders reach it through its website or through referrals from members and portfolio companies.

AmountAs reported in October 2022: investments in 211 startups, with a typical cheque of ₹50 lakh to ₹10 crore. Current figures are not published on a page we could open.Who can apply and howClose

Who can apply

Seed to pre-Series A startups.

How to apply

  1. Prepare a pitch deck with traction, team and the amount you want to raise.
  2. Apply through the Mumbai Angels website (mumbaiangels.com), or seek a referral from a member or a company it has backed.
  3. If shortlisted, pitch to its investors; expect equity dilution.
Sources (1)
  1. Mumbai Angels basks in sunshine as funding winter grips the startup ecosystem · 2022
Early

LetsVenture (LVX)

LetsVenture is an online platform where investors discover and invest in early-stage startups. It also lists startup debt, a six-week cohort to help founders become investor-ready, and an angel cohort that trains new investors.

AmountNo standard amount: investors on the platform decide each deal.Who can apply and howClose

Who can apply

Early-stage startups looking for angel investors, and startups seeking debt.

How to apply

  1. Create a startup profile through LetsVenture's founder sign-up (app.lvxventures.com).
  2. Add your pitch, financials and round details so investors on the platform can review them.
  3. Respond to interested investors; terms are agreed between you and them.
Sources (1)
  1. LetsVenture home page · 2026
Early

SEBI-registered angel funds

An angel fund is a sub-category of SEBI's Category I Alternative Investment Fund. Since the September 2025 amendment it can raise money only from accredited investors, each investment in a startup must have money from at least two accredited investors, and investors related to the startup cannot put money in through the fund. Many angel networks use such funds to pool their members' cheques.

Amount₹10 lakh to ₹25 crore per startup, by law.Who can apply and howClose

Who can apply

Startups not promoted by, or related to, a corporate group with turnover above ₹300 crore.

How to apply

  1. Ask any angel network or fund for its SEBI registration number and check it on the SEBI website.
  2. Pitch to the angel fund like any investor; it decides through its investment process.
  3. Read the lock-in and related-party rules: SEBI sets a lock-in on each angel-fund investment.
Sources (1)
  1. SEBI (Alternative Investment Funds) Regulations, 2012, amended up to 14 July 2026 · 2026

Venture capital

2
Early · Growth

NABVENTURES funds and AgriSURE (NABARD)

NABVENTURES Ltd is a wholly owned subsidiary of NABARD that manages SEBI-registered Category II venture funds. Fund I invested at pre-Series A and Series A stage; Fund II backs companies from Series A onwards. It also manages AgriSURE, a ₹750 crore fund (₹250 crore each from the Government of India and NABARD, ₹250 crore to be raised from others) that invests through other funds and directly in agri and rural startups.

AmountNABVENTURES Fund I: ₹598 crore (fully invested in 19 companies). Fund II: ₹1,500 crore including greenshoe, ₹30 crore+ per deal from Series A. AgriSURE: ₹750 crore corpus, up to ₹25 crore per startup.Who can apply and howClose

Who can apply

Startups in agriculture, food, rural business, agri and rural finance, and climate, at venture stage.

How to apply

  1. Prepare a pitch deck with revenue, customers and use of funds; these are equity investors, so expect to give up a share of your company.
  2. Contact NABVENTURES through the contact page on nabventures.in; the NABARD AgriSURE page does not print an application form.
  3. Also approach the 'daughter funds' that AgriSURE has invested in; NABVENTURES lists them on its website.
Sources (4)
  1. NABVENTURES home page · 2026
  2. NABVENTURES Fund I · 2026
  3. NABVENTURES Fund II · 2026
  4. AgriSURE - Agri Fund for Start Ups & Rural Enterprises · 2026
Early · Growth

How venture capital works in India (SEBI-registered AIFs)

In India, venture capital and private equity funds must register with SEBI as Alternative Investment Funds. Category I covers venture capital, angel, SME, social impact and infrastructure funds; Category II covers private equity and debt funds; Category III covers hedge-fund style trading. These funds pool money from wealthy and institutional investors and buy shares in companies, expecting to sell later at a profit.

AmountNo fixed amount: each fund sets its own cheque size. By law an investor in an AIF must normally put in at least ₹1 crore.Who can apply and howClose

Who can apply

Startups and growing companies that can offer high growth and are ready to sell a share of the company.

How to apply

  1. Check that the fund is registered with SEBI as an AIF before sharing sensitive information or signing anything.
  2. Approach funds that invest in your sector and stage, ideally through a warm introduction, with a pitch deck and financial model.
  3. Expect due diligence and a term sheet covering valuation, board seats and investor rights; take legal advice before signing.
Sources (1)
  1. SEBI (Alternative Investment Funds) Regulations, 2012, amended up to 14 July 2026 · 2026

Tax rules

1
Early · Growth

Angel tax (Section 56(2)(viib)) status

Since 2012, Section 56(2)(viib) of the Income-tax Act taxed the part of share money received above fair market value as income. The Finance (No. 2) Act 2024 sunset this clause: the Budget memorandum says it shall not apply from assessment year 2025-26, with the amendment effective 1 April 2025. Note: this is assessment year 2025-26 (money raised in FY 2024-25), not financial year 2025-26.

AmountNot money: a tax rule. Angel tax does not apply from assessment year 2025-26, which covers shares issued in financial year 2024-25 onwards.Who can apply and howClose

Who can apply

Unlisted companies, including startups, that raise money by issuing shares above face value.

How to apply

  1. For money raised in FY 2024-25 or later, angel tax does not apply; keep share valuation reports anyway for company-law and FEMA filings.
  2. For share issues before 1 April 2024, the old rule still governs those years; speak to a chartered accountant about any open assessment.
  3. Keep your DPIIT recognition current, since other startup tax benefits depend on it.
Sources (1)
  1. Memorandum explaining the provisions in the Finance (No. 2) Bill, 2024 · 2024

Rules to know

1

Incubators by state

An incubator gives you space, mentors and often the seed money from the schemes above. Pick your state.

Andhra Pradesh4
Assam4
Bihar4
Chhattisgarh4
  • 36INC ↗Raipur · 36INC Society (Raipur); Atal Incubation Centre (AIM, NITI Aayog)
  • NIEP, NIT Raipur ↗Raipur · NIT Raipur; DST NIDHI technology business incubatorClean tech
  • CSVTU i-TBI ↗Bhilai · Chhattisgarh Swami Vivekanand Technical University; DST NIDHI inclusive TBI (i-TBI)Digital technology · Energy
  • Dr. C. V. Raman University i-TBI ↗Bilaspur · Dr. C. V. Raman University; DST NIDHI inclusive TBI (i-TBI)Engineering · Organic products · Chemical sciences
Goa3
Gujarat5
Haryana3
  • AIC IIT Delhi Sonipat Campus ↗Sonipat · IIT Delhi; Atal Incubation Centre (AIM, NITI Aayog)
  • Entrepreneurship Promotion and Incubation Council (Ambala)Ambala · Ambala College of Engineering and Applied Research; DST NIDHI technology business incubatorElectronics manufacturing · Mechanical · Biotechnology
  • MDI Gurgaon TBI ↗Gurugram · Management Development Institute; DST NIDHI technology business incubator
Himachal Pradesh3
  • IIT Mandi Catalyst ↗Mandi · IIT Mandi; DST NIDHI technology business incubatorSector agnostic
  • Shoolini University i-TBI ↗Solan · Shoolini University; DST NIDHI inclusive TBI (i-TBI)Climate change · Digital technology · Health · Food
  • NIT Hamirpur i-TBI ↗Hamirpur · NIT Hamirpur; DST NIDHI inclusive TBI (i-TBI)Technology · AI / machine learning · Agriculture · Pharma · Biotechnology
Jharkhand1
Karnataka6
Kerala5
Madhya Pradesh4
  • AIC Rabindranath Tagore University ↗Raisen · Rabindranath Tagore University; Atal Incubation Centre (AIM, NITI Aayog)
  • SGSITS Incubation Forum (i-TBI) ↗Indore · Shri G. S. Institute of Technology and Science; DST NIDHI inclusive TBI (i-TBI)Industry 4.0 · Agritech · Medtech
  • MANIT TBI ↗Bhopal · Maulana Azad National Institute of Technology; DST NIDHI technology business incubator
  • AIC RRCAT ↗Indore · Raja Ramanna Centre for Advanced Technology; Atal Incubation Centre (AIM, NITI Aayog)
Maharashtra6
Mizoram1
Odisha4
Punjab5
  • AIC ISB Mohali ↗Mohali · Indian School of Business; Atal Incubation Centre (AIM, NITI Aayog)
  • IIT Ropar TBI ↗Rupnagar · IIT Ropar; DST NIDHI technology business incubatorSector agnostic
  • Chandigarh University TBI (CU-TBI) ↗Mohali · Chandigarh University; DST NIDHI technology business incubatorSector agnostic
  • GADVASU i-TBI ↗Ludhiana · Guru Angad Dev Veterinary and Animal Sciences University; DST NIDHI inclusive TBI (i-TBI)Dairy · Livestock
  • STEP, Thapar Institute ↗Patiala · Thapar Institute of Engineering and Technology; DST NIDHI technology business incubatorBiotechnology · IoT · Social entrepreneurship
Rajasthan4
Sikkim1
Tamil Nadu6
Telangana6
Tripura1
  • NIT Agartala i-TBI ↗Agartala · NIT Agartala; DST NIDHI inclusive TBI (i-TBI)Food tech · Sustainability · AI / machine learning
Uttar Pradesh6
Uttarakhand4
West Bengal4
Delhi5
Jammu & Kashmir5
  • SMVDU Technology Business Incubation Centre ↗Katra · Shri Mata Vaishno Devi University; DST NIDHI technology business incubatorEngineering · Biology · Services
  • IIM Jammu i-TBI ↗Jammu · IIM Jammu; DST NIDHI inclusive TBI (i-TBI)Biotechnology · Agriculture · IT · Renewable energy
  • SKUAST Kashmir i-TBI ↗Srinagar · Sher-e-Kashmir University of Agricultural Sciences and Technology of Kashmir; DST NIDHI inclusive TBI (i-TBI)Agritech · AI / machine learning · Biotechnology · Health
  • AIC JKEDI ↗Pulwama · Jammu and Kashmir Entrepreneurship Development Institute; Atal Incubation Centre (AIM, NITI Aayog)
  • AIC IIT Jammu ↗Jammu · IIT Jammu; Atal Incubation Centre (AIM, NITI Aayog)
Puducherry1
  • AIC Pondicherry Engineering CollegePuducherry · Pondicherry Engineering College; Atal Incubation Centre (AIM, NITI Aayog)