{"id":69,"date":"2022-07-12T10:19:49","date_gmt":"2022-07-12T10:19:49","guid":{"rendered":"https:\/\/ecloudsoftware.in\/blog\/?p=69"},"modified":"2022-07-12T10:19:49","modified_gmt":"2022-07-12T10:19:49","slug":"how-to-get-grant-for-startup-business-in-kerala","status":"publish","type":"post","link":"https:\/\/ecloudsoftware.in\/blog\/2022\/07\/12\/how-to-get-grant-for-startup-business-in-kerala\/","title":{"rendered":"How to get grant for Startup business in Kerala?"},"content":{"rendered":"

Innovation grant scheme is\u00a0 organized by the Kerala Start up Mission to provide financial assistance to startups , entrepreneurs\u00a0 to help them convert their innovative ideas. Kerala Startup Mission is a nodal agency of Govt. of India for startup related activities.<\/p>\n

The main objective is to promote entrepreneurship and innovation in the\u00a0 state.<\/p>\n

Types of Grants<\/strong><\/p>\n

    \n
  1. Idea Grant — is provided for startups or students who have a prototype or minimum\u00a0 viable product (MVP) to develop the final version of\u00a0 \u00a0MVP. And an amount of\u00a0 Rs 2 lakhs is limited for the idea<\/li>\n
  2. Productization Grant — is to convert the\u00a0 MVP into a product and a maximum\u00a0 amount of Rs\u00a0 7 lakhs\u00a0 \/ idea.<\/li>\n
  3. Scale up Grant — helps startups with product revenues\/ investments to scale their business to next level and is limited to maximum Rs 12 lakhs \/idea.<\/li>\n
  4. R&D Grant — is available for hardware or deep tech startups with working prototype \/IP , which need to be developed into a product and is limited to Rs 30 Lakhs\/idea.<\/li>\n<\/ol>\n

    Eligibility<\/strong><\/p>\n

      \n
    1. For Idea Grant –<\/li>\n<\/ol>\n
        \n
      • \u00a0A student studying in Kerala<\/li>\n
      • An innovator based out of Kerala<\/li>\n
      • A Startup legally registered with DIPP certification\u00a0 in Kerala<\/li>\n<\/ul>\n

        2. For\u00a0 Productization & Scale Up Grant –<\/p>\n

          \n
        • \u00a0A startup legally registered with DIPP certification in kerala<\/li>\n<\/ul>\n

          Documents Required\u00a0<\/strong><\/p>\n

            \n
          • Company Registration certificate<\/li>\n
          • DPIIT\u00a0 Recognition certificate<\/li>\n
          • Pitch deck<\/li>\n<\/ul>\n

            Application Procedure\u00a0<\/strong><\/p>\n

              \n
            • The applicant needs to access the official webpage of KSUM and click on the Unique id option .<\/li>\n
            • Sign up by entering all details in\u00a0 the form.<\/li>\n
            • KSUM will call for\u00a0 applications for idea \/ productization \/ scale up grant in sectors at least once a quarter.<\/li>\n
            • Updates on application and deadlines will be published\u00a0 in KSUM official website, social media and print media.<\/li>\n
            • Students, Innovators and startups can use official website (www.startupmission.kerala.gov.in\/ideaday)to submit their application.<\/li>\n
            • Once the application is open the notifications would be published through social media and print media.<\/li>\n
            • Only completed applications will be considered for shortlisting.<\/li>\n
            • All queries regarding application process may be mailed to ideas@startupmission.in with the subject Idea Day Queries : Application.<\/strong><\/li>\n<\/ul>\n

              Shortlisting<\/strong><\/p>\n

                \n
              • The applications can be shortlisted by a panel of experts<\/li>\n
              • Shortlisted startups should submit a 2 minute introduction of the product along with the pitch deck\u00a0 and Fund utilisation plan.<\/li>\n
              • Screening panel would recommend if the idea is worth pursuing.<\/li>\n<\/ul>\n

                Shortlisting Panel\u00a0<\/strong><\/p>\n

                  \n
                • KSUM\u00a0 would make partner with an Incubator or an academic institution having expertise in this sector.<\/li>\n
                • Atleast 2 representatives recommended by partner organisations will be requested by KSUM to shortlist the ideas.<\/li>\n<\/ul>\n

                  Shortlisting Criteria\u00a0<\/strong><\/p>\n

                  The applications would be shortlisted based on the following criteria:<\/p>\n

                    \n
                  • Idea usefulness(40% )<\/li>\n
                  • Solution value(40%)<\/li>\n
                  • Market potential (20%)<\/li>\n<\/ul>\n

                    The top ten ideas in each sector will be invited for the idea day during which a screening panel will listen to the idea presentations, evaluate their merit and recommend their ideas for funding.<\/p>\n

                    Shortlist Announcement<\/strong><\/p>\n

                      \n
                    • Innovators selected for idea presentation will be notified through email at least 2 weeks before the Idea day.<\/li>\n
                    • Applicants who were rejected will be notified by email.<\/li>\n
                    • Others may re apply with an improved application for the subsequent Idea days.<\/li>\n<\/ul>\n

                      Participation Confirmation<\/strong><\/p>\n

                        \n
                      • the selected innovators are expected to confirm their participation within 5 days by submitting a 2 minute product introduction video, the pitch deck and the fund utilization plan.<\/li>\n<\/ul>\n

                        The\u00a0 naming convention for the files are as\u00a0 follows :<\/p>\n

                          \n
                        1. Video(max length of\u00a0 2 minutes):[category name][product name].mp4<\/li>\n
                        2. Pitch deck (max. 10 slides):[category name][product name].pdf<\/li>\n
                        3. Fund utilization plan:[category name][product name].xlsx<\/li>\n<\/ol>\n

                          The innovator should also bring a hard copy of the fund utilisation plan for the Idea day.<\/p>\n

                          Queries regarding Shortlisting<\/strong><\/p>\n

                          Innovators who would like to know their\u00a0 shortlisting scores may request by mailing to ideas@startupmission.in\u00a0 \u00a0 \u00a0 \u00a0with the subject Idea Day Queries : Shortlisting.<\/strong><\/p>\n

                          The Idea Day coordinator\u00a0 will respond within 5 working days\u00a0 with the following details:<\/p>\n

                            \n
                          • Average score for\u00a0 each selection criteria<\/li>\n
                          • Comments provided by the shortlisting panel<\/li>\n
                          • Credentials of the shortlisting panel<\/li>\n
                          • Cut off score of ideas which got shortlisted.<\/li>\n<\/ul>\n

                            Selection<\/strong><\/p>\n

                            Selection Criteria<\/strong><\/p>\n

                            The 2 minute product introduction videos and presentations\u00a0 submitted by the\u00a0 innovators\/ startups will be shared with\u00a0 the screening panel members one week in\u00a0 advance.<\/p>\n

                            Screening Panel<\/strong><\/p>\n

                            The screening panel would have 3 members<\/p>\n

                              \n
                            • An industry expert<\/li>\n
                            • An Academician<\/li>\n
                            • A senior representative from a Govt. body<\/li>\n<\/ul>\n

                              Screening Process<\/strong><\/p>\n

                              For\u00a0 Idea and Productization grant startups the evaluation will be done by the panel based on the following criteria:<\/p>\n

                                \n
                              1. Idea and Solution Usefulness<\/li>\n
                              2. Uniqueness<\/li>\n
                              3. Potential for growth<\/li>\n
                              4. Proposed utilization of grant<\/li>\n<\/ol>\n

                                For Scale up grant, the evaluation will be done\u00a0 by the panel based on the following criteria:<\/p>\n

                                  \n
                                1. Exponential growth potential<\/li>\n
                                2. Team competence<\/li>\n
                                3. Early signs of Growth<\/li>\n
                                4. Current revenue and external confidence<\/li>\n
                                5. Overall performance<\/li>\n<\/ol>\n

                                  Sanction of Grants<\/strong><\/p>\n

                                  The recommendations of the screening panel will be submitted to the CEO,KSUM for approval. Grants above 5 lakhs will be approved by IT Secretary ,Govt of Kerala who is also the Chairman of KSUM Executive committee.<\/p>\n

                                  Innovators whose ideas are sanctioned will be notified through mail. The list of Innovation Grant recipients will be updated within 2 weeks from the Idea day.<\/p>\n

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                                   <\/p>\n","protected":false},"excerpt":{"rendered":"

                                  Innovation grant scheme is\u00a0 organized by the Kerala Start up Mission to provide financial assistance to startups , entrepreneurs\u00a0 to help them convert their.<\/p>\n","protected":false},"author":1,"featured_media":71,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"_links":{"self":[{"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/posts\/69"}],"collection":[{"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/comments?post=69"}],"version-history":[{"count":1,"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/posts\/69\/revisions"}],"predecessor-version":[{"id":72,"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/posts\/69\/revisions\/72"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/media\/71"}],"wp:attachment":[{"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/media?parent=69"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/categories?post=69"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/tags?post=69"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}