PIEDS SIDBI iDEX Fund - BITS Pilani PIEDS

• DPIIT-recognised Pvt Ltd startups at product or revenue stage, operational for at least 1 year.

About this scheme

The PIEDS SIDBI iDEX Fund is a targeted seed funding initiative designed to accelerate the growth of high-potential startups operating in defence and allied technology sectors. This program is implemented by the Pilani Innovation & Entrepreneurship Development Society (PIEDS) at BITS Pilani in collaboration with the Small Industries Development Bank of India (SIDBI) under the broader SIDBI Seed Fund Programme.

The primary objective of this fund is to support startups that have already demonstrated technical and strategic capability by winning challenges under the Innovations for Defence Excellence (iDEX) program. By focusing on such validated startups, the initiative ensures that capital is deployed towards ventures with proven innovation potential and relevance to national defence priorities.

Selected startups can receive investment support of up to Rs. 1.5 crore. This funding is intended to bridge the critical gap between prototype validation and market readiness. The fund enables startups to scale their innovations, undertake advanced product development, and move toward commercialization.

Beyond financial assistance, the program offers structured incubation support through PIEDS. This includes access to technical mentorship, infrastructure, and domain expertise necessary for refining and deploying defence technologies. Startups benefit from assistance in prototyping, conducting field trials, and preparing for real-world deployment scenarios. Additionally, the program emphasizes go-to-market readiness, helping founders navigate procurement processes, partnerships, and commercialization pathways.

Who can apply

• Must be an Indian private limited company
• Must be DPIIT-recognised as a startup
• Must have won an iDEX challenge
• Must have previously received grant support from iDEX
• Must be incorporated at least one year prior to application
• Must be willing to incubate with PIEDS at BITS Pilani
• Focus on defence and allied technology domains
• Startups should be at a stage where prototyping or product development has already begun

Eligible entity types: Private Limited

Benefits & funding

• Funding support of up to ₹1.5 crore for eligible startups
• Dedicated support for defence and allied technology ventures
• Structured incubation through PIEDS at BITS Pilani
• Access to technical and domain-specific mentorship
• Assistance with advanced product development and prototyping
• Support for field trials and technology validation
• Guidance on commercialization and go-to-market strategies
• Access to BITS Pilani's innovation ecosystem and infrastructure
• Networking opportunities with industry stakeholders and investors
• Enhanced readiness for scale-up and future fundraising

How the application process works

The journey below is informational, compiled from the official program guidelines. Applications are submitted directly with PIEDS, in your own name.

1. 1

   Review the eligibility criteria and funding guidelines

2. 2

   Prepare your pitch deck and supporting documents

3. 3

   Complete the online application form

4. 4

   Submit proof of iDEX challenge win and previous iDEX grant support

5. 5

   Provide details of your product, technology, traction, and commercialization plans

6. 6

   Participate in the screening and evaluation process

7. 7

   Attend interviews or pitch sessions if shortlisted

8. 8

   Complete due diligence and incubation onboarding with PIEDS

9. 9

   Receive funding approval and incubation support

Documents checklist 13

• Certificate of Incorporation
• DPIIT Recognition Certificate
• Proof of iDEX Challenge Win
• Proof of Previous iDEX Grant Support
• Startup Pitch Deck
• Founders' Profiles and Resumes
• Business Plan or Executive Summary
• Financial Statements and Projections
• Cap Table / Shareholding Pattern
• PAN and GST Details
• Bank Account Details
• Product Demo, Prototype, or Technical Documentation
• Intellectual Property Documents (if applicable)

Need help getting these in order? IncorpX provides assistance for incorporation, DPIIT recognition, MSME and GST registrations along with document preparation.

Frequently asked questions