FundingFunding opportunities up to ₹10 Lakh through ACIC-VGU schemes
Equity-free Idea AI, SaaS & Enterprise
ClosesAug 15, 2026
Closed Equity Funding DPIIT required
SIDBI Seed Fund Programme at SINE, IIT Bombay (Incubatees only)
Equity or CCPS seed funding of Rs. 25 lakh to Rs. 1 crore for startups incubated at SINE, IIT Bombay, funded directly by SIDBI for scale-up.
Check your readinessShare a few details and an IncorpX advisor will walk you through fit, documents and timelines for this scheme. Free, no obligation.
- Equity or CCPS funding of Rs. 25 lakh to Rs. 1 crore.
- Open only to SINE incubatee startups.
- SIDBI funds the startup directly, with SINE as implementing partner.
- SIDBI's stake usually stays at or below 10%.
- Needs DPIIT recognition and Angel Tax exemption.
About this scheme
The SIDBI Seed Fund Programme at SINE backs startups already incubated at SINE, IIT Bombay, helping them scale their business. SIDBI puts the money into the startup directly, with SINE acting as the implementing partner.
Funding support: Rs. 25 lakh to Rs. 1 crore.
Instrument: an equity or equity-like investment (CCPS). After investing, SIDBI's holding usually stays at or below 10%.
Who can apply
- The programme is limited to startups incubated at SINE, IIT Bombay.
- The company must hold DPIIT recognition with Angel Tax exemption where it applies, have at least 51% of shares with Indian promoters, and stay out of the financial sector.
- Firms created by splitting up or reconstructing an existing business do not qualify.
Eligible entity types: Private Limited
Benefits & funding
Headline support
Rs. 25 lakh to Rs. 1 Cr
- Seed funding of Rs. 25 lakh to Rs. 1 crore, given as equity or an equity-like instrument (CCPS), for SINE-incubated startups looking to grow.
- SIDBI puts the money straight into the startup, while SINE runs the programme as implementing partner.
- Once invested, SIDBI rarely holds more than 10% of any one company.
How the application process works
The journey below is informational, compiled from the official program guidelines. Applications are submitted directly with SINE, IIT Bombay, in your own name.
- 1
Only companies that are already incubated at SINE may take part.
- 2
Each application is checked against the common SIDBI conditions: DPIIT recognition, Angel Tax exemption, 51% Indian promoter holding, and a non-financial line of business.
- 3
The money goes in as an equity or equity-like instrument (CCPS), with SINE as implementing partner.
Want a second pair of eyes before you submit?IncorpX provides assistance for structuring proposals and organising the paperwork this process expects.
Official application
Ready to apply? Get the official link
Applications are submitted directly with SINE, IIT Bombay, in your own name. Share a few details and we will point you to the official application portal and help you prepare a complete submission.
Here is the official application link
Apply in your own name with SINE, IIT Bombay. Want a second pair of eyes before you submit? An IncorpX advisor can help you prepare.
Open the official applicationFrequently asked questions
Who can apply?
Only startups incubated at SINE, IIT Bombay, that hold DPIIT recognition with Angel Tax exemption where it applies and have at least 51% of shares with Indian promoters.
How much funding is available?
From Rs. 25 lakh to Rs. 1 crore, put in as an equity or equity-like instrument (CCPS).
How much equity does SIDBI take?
Once invested, SIDBI rarely holds more than 10% of any single company.
Are financial-sector startups eligible?
No. The programme does not invest in financial-sector firms or financial-sector infrastructure.
Important disclaimer
IncorpX is a private platform operated by a private company. It is not a government department, agency or official portal, and it is not affiliated with, endorsed by, or acting on behalf of any government body or of any organisation, incubator, accelerator, investor or partner listed in this directory. All program names, logos and trademarks are the property of their respective owners and are used for identification only.
This directory is compiled from publicly available official sources and is provided for general information only. It does not constitute legal, financial, tax or professional advice. Funding amounts, eligibility criteria, required documents, deadlines and availability are determined by each program authority and change with every cycle, so the details shown here may be incomplete or out of date. Always confirm the current terms on the official program source before you apply or take any decision.
IncorpX charges no fee for the information in this directory and does not collect, process, lodge or submit any application on your behalf. Applications are made by you, in your own name, directly with the respective program authority. IncorpX provides assistance only for application preparation and for related registrations such as company incorporation, DPIIT recognition, MSME (Udyam) and GST. Eligibility, approval, disbursement and selection rest solely with the respective program authority, and IncorpX makes no representation or guarantee as to any outcome.
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