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

Agritech

BioPharma

Clean Energy

Environmental Sciences

Industrial Biotechnology

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

Application Process

  • Step 1

    Call for Applications

  • Step 2

    Internal Evaluation Of Application

  • Step 3

    External Evaluation Of Application

  • Step 4

    Announcement Of Grantees

Months Program Duration

Total Startups Supported

Applications Received

BIRAC SEED Program

APPLICATIONS CLOSED

Frequently Asked Questions

1. What components will the financial assistance under BIRAC SEED will cover?
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.
2. What is the selection of criteria for the startups?
  • Presentation in front of selection committee SIIC-BIRAC.
  • Due Diligence.
3. What is the mode of Funding?
Incubator can provide funding as equity and equity linked insturments(CCPS) upto Rs 30 Lakhs per startup.