siic@iitk.ac.in +91 0512 259 7979
Contact

BIRAC SEED

Overview

BIRACs initiative -Sustainable Entrepreneurship and Enterprise Development Fund ("SEED Fund") is for startups to develop a product with a market fit, viable for commercialization, with further scope for scaling. All innovators and startups graduate from the program at the stage of raising investments from angel/Venture capitalists or from commercial banks/financial institutions. IIT Kanpur's technology business incubator Startup Incubation and Innovation Center (SIIC) is one of the many incubation centers in India hosting incubation under BIRAC's SEED fund in the domian of Biotechnology.

Applications Closed

Focus Domains

Med-tech devices & diagnostics
AI/ML Big data
analytics
Veterinary
Sciences
Industrial
Biotechnology
Agritech
BioPharma
Environmental Sciences
Clean Energy

Eligibility

  • Indian Start-ups (Registered under Companies Act, 2013), having at least 51% shareholders as Indian Citizens [does not include OCI or PIO] as the mandatory requirement.
  • A company shall be considered as startup :

    - If its turnover for any of the financial years has not exceeded Rs 25 cr.


    - If it is working towards innovation development, deployment or commercialization of new products, processes or services driven by technology or intellectual property.

    - If it is working towards innovation development, deployment or commercialization of new products, processes or services driven by technology or intellectual property.If it has completed up to 5 years from the date of its incorporation/registration.

Offerings

Seed Fund upto
30 Lakhs(Equity/CCPS)
Access to IIT Kanpur Infrastructure
Financial Assisstance
Mentoring from industry experts for product development

Application Process

  • Step 1

    Call for Applications

  • Step 2

    Internal Evaluation Of Application

  • Step 3

    External Evaluation Of Application

  • Step 4

    Announcement Of Grantees

18-24

Months Program Duration

5

Total Startups Supported

100

Applications Received

BIRAC SEED Program

Frequently Asked Questions


  • Financial assistance will be disbursed for:

    - Performing proof-of concept stage studies

    - Prototype generation

    - Scaling-up innovations

    - Generating additional data or performing validation studies needed to secure next-level funding

    - In selected cases, where funds can help with gap funding/next-level funding.

    - Patent analysis, drafting and filing

    - Market research analysis and Professional consultancy

    - Enterprise building : Development of Market, Business Strategy, Business supply chain etc.

- Presentation in front of selection committee SIIC-BIRAC.
- Due Diligence

-Incubator can provide funding as equity and equity linked insturments(CCPS) upto Rs 30 Lakhs per startup.