MSInS SEED Fund
The Maharashtra State Innovation Society (MSINS) Seed Fund Scheme is a program that provides funding to eligible startups in the region. The scheme aims to support the growth of startups and encourage innovation.
The MSINS Seed Fund Scheme offers up to 10,00,000 INR in funding to startups. The funds can be used for a variety of purposes, including: Product development, Market validation, Business development, and Team building.
To be eligible for the MSINS Seed Fund Scheme, startups must meet the following criteria
- Be a legally recognized entity
- If not a registered company, register as one within three months of the incubation or pre-incubation period
The application process for the MSINS Seed Fund Scheme includes
- Screening : Applications are screened for completeness and eligibility
- Expert evaluation : A panel of experts evaluates applications based on market potential, innovation, and feasibility
- Pitch presentation : Shortlisted startups present their ideas to further assess their potential
- Final selection : The final selection is based on the application, pitch presentation, and expert evaluation
Selected startups receive funding in the form of Compulsory Convertible Preference Shares (CCPS).
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