The journey for a startup from FNF round to seed to series A and beyond is a long road.
A startup is faced with varied options to raise funds on this journey and one of the possible options is going for different government grants and institutional grants.
In India, there are several government grants and institutional grants available for startups to raise funds. Some of the most popular grants are:
1) Startup India Seed Fund Scheme: This scheme provides funding of up to Rs. 5 crores to startups in India. The fund is managed by a consortium of national-level incubators.
2) Technology Development Board (TDB): The TDB provides financial assistance to Indian technology startups for developing and commercializing their products. The board offers a range of grants and loans.
3) Department of Science and Technology (DST): DST offers several grants to support research and development activities in technology and science. These include grants for early-stage startups, women entrepreneurs, and others.
4) Biotechnology Industry Research Assistance Council (BIRAC): BIRAC provides funding and support to startups in the biotechnology sector. The council offers several schemes such as the Biotechnology Ignition Grant, which provides up to Rs. 50 lakhs to early-stage startups.
5) MSME Grants: The Ministry of Micro, Small, and Medium Enterprises (MSME) offers several grants to support startups in India. These grants include the Credit Guarantee Fund Scheme, the Prime Minister’s Employment Generation Programme, and others.
6) Atal Innovation Mission (AIM): AIM is a government initiative that provides support to startups through several programs such as the Atal Incubation Centers, Atal New India Challenges, and others.
7) Angel Networks: They are a network of angel investors that invests in early-stage startups in India. There are many active networks currently. These networks provide funding, mentoring, and other support to startups.
8) Indian Institute of Technology (IIT) Incubators: Several IITs in India have set up incubators to support startups. These incubators provide funding, mentorship, and other support to startups.
Overall, there are several grants and funding opportunities available to startups in India. Entrepreneurs should research and evaluate the options that best suit their needs and goals.