Transforming Goa into the No.1 ecosystem for everything TourismTech.

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Fatorda, Margao Goa

Startup India Seed Fund Scheme

Startup India Seed Fund Scheme (SISFS) aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization.


In order to build a robust startup ecosystem and to nurture innovation and provide opportunities, DPIIT has created Startup India Seed Fund Scheme (SISFS) to provide financial assistance to startups. FiiRE Incubation Centre has been selected as one of the incubators for providing Seed fund support to startups for proof of concept, prototype development, product trials, market entry and commercialization to early-stage startups.
Startup India Seed Fund Scheme (SISFS)

Focus Areas

Eligibility Criteria for Startups Quantum of funding
  • A startup, recognized by DPIIT, incorporated not more than 2 years ago at the time of
  • Startup must have a business idea to develop a product or a service with market fit,
    viable commercialization, and scope of scaling
  • Startup should be using technology in its core product or service, or business model, or
    distribution model, or methodology to solve the problem being targeted
  • Preference would be given to startups creating innovative solutions in biotechnology,
    healthcare and allied applications in industrial sectors.
  • Startup should not have received more than Rs 10 lakh of monetary support under any
    other Central or State Government scheme. This does not include prize money from
    competitions and grand challenges, subsidized working space, founder monthly
    allowance, access to labs, or access to prototyping facility
  • Shareholding by Indian promoters in the startup should be at least 51% at the time of
    application to incubator for the scheme, as per Companies Act, 2013 and SEBI (ICDR)
    Regulations, 2018
  • Any startup will not receive seed support more than once each as per provisions of para
    8.1 (i) and 8.1 (ii) respectively
  • Up to Rs. 20 Lakhs as grant for validation of Proof of Concept, or prototype
    development, or product trials. The grant shall be disbursed in milestone-based
  • Up to Rs. 50 Lakhs of investment for market entry, commercialization, or scaling up
    through convertible debentures or debt or debt-linked instruments


Sr. No.Startup NameOne Liner
1A2Wedtech Private LimitedDestination Wedding Made Affordable
2Akvotransiro Tech Private LimitedAffordable Water Transport Solutions For Indian Waterways
3Aumnatic Systems Private LimitedDesign And Manufacture Electronics For Toys In India
4Cognicue Analytics Private LimitedSaaS Platform For Emotional Quotient (EQ)
5Funminds Learning Tech Private LimitedRobotics And Eq Education Through Gamification
6Greenpod Labs Private LimitedBiotech-Based Packaging Sachet
7Human Biogenesis Private LimitedSD Kit will detect the presence of semen in the vagina to help female customers decide whether to take morning after pill or not.
8Kapha Ventures LLPSustainable Lifestyle Products For Skincare And Yoga
9Lafabrica Craft Private LimitedBiodegradable Bags And Paper Products
10Med Interventions And Beyond Private LimitedPatented Designs Of Masks
11Mycraft Foods Private LimitedRevolutionizing the way of tea drinking
12Protoezy Designs Private LimitedMarketplace To Compute Real Time Quotes For Manufacturers
13Shubhakrut Sustainable Solutions Private LimitedSimplifying Compliance Management
14Trishulavel Eshan Private LimitedLithium-ion Battery Recycling
15Ulavan Agri-Tech Services (OPC) Private LimitedPlucking and spraying services for tree based agriculture using precision smart drones


Proof of Concept

We provide financial aid and mentorship to startups in the early stages of ideation. Our aim is to help
entrepreneurs refine their concepts, conduct market research, and develop a robust proof of concept that
demonstrates the potential of their innovative solutions in the tourism industry.

Prototype Development

We support startups in the development of prototypes and minimum viable products (MVPs). Through financial
aid, technical expertise, and industry connections, we enable entrepreneurs to bring their innovative ideas to life,
building functional prototypes that can be tested and validated in real-world scenarios.

Product Trials

We believe in the importance of validating products and solutions in real-market conditions. We provide
financial support to startups for conducting product trials, gathering user feedback, and iterating on their offerings
to ensure they meet the needs and expectations of the tourism industry.

Market Entry and Commercialization

We assist startups in scaling their operations and entering the market successfully. We provide seed funding and
strategic guidance to help entrepreneurs refine their go-to-market strategies, secure partnerships, and establish a
strong presence in the tourism industry.