SEED Fund - Sustainable Entrepreneurship and Enterprise Development Fund

What it is

Provide first equity exposure and capital assistance to promising post-PoC biotech startups so they can cover early startup costs and progress toward angel, venture or institutional financing.

What you get

• Up to INR 30 lakh equity or equity-linked investment per selected post-PoC biotech startup

Who it is for

• the startup must be identified and selected through a BIRAC SEED Fund partner incubator
• the startup must be registered under the Companies Act, 2013
• at least 51% of shareholders must be Indian citizens; OCI and PIO holdings do not satisfy this mandatory condition
• the startup should be at post-PoC stage with new and meritorious ideas, innovations or technologies
• the proposal must pass the selected incubator's due diligence, selection mechanism and investment committee process
• the startup must enter a legally binding funding and investment agreement with the incubator
• the startup must satisfy any current BioNEST partner-specific eligibility, diligence, sector and milestone conditions

Not eligible if

• individual applicants without an eligible startup entity are not the beneficiary route
• a startup may not receive BIRAC SEED Funding support more than once
• There is no single application window for all startups; apply through a partner incubator when it is accepting proposals.
• the INR 30 lakh figure is a maximum investment ceiling, not a guaranteed grant or entitlement
• support is equity or equity-linked investment, not a non-repayable startup grant
• current partner availability, valuation, dilution, instrument, milestones and investment approval remain incubator-controlled
• the selected incubator must address conflicts of interest before final recommendation

How to apply

1. 1
   Confirm the biotech and post-PoC fit

   Map the product, technology, proof-of-concept evidence and intended commercial use to the BIRAC SEED Fund scope.

   Official step
2. 2
   Verify Indian ownership and company status

   Confirm Companies Act registration and at least 51% shareholding by Indian citizens, excluding OCI and PIO holdings for this mandatory criterion.

   Official step
3. 3
   Choose a current SEED Fund partner route

   Use the official BIRAC partner list to choose a BioNEST incubator, and confirm with them that they are currently accepting proposals.

   Official step
4. 4
   Submit diligence materials and review investment terms

   Follow the partner incubator's intake and committee process, then review valuation, dilution, instrument, milestones, governance, exit and reporting terms before signing.

   Official step

Keep ready