The scale up grant is supported for startups who are looking for scaling up their business or revenues. The grant amount is upto 12 lakhs

ELIGIBILITY

• Following startup is eligible for applying Scale up Grant

  • Generated 12 lakhs as revenue from the product in the last 12 months

  • or 50 Lakhs as total turn over revenue in the last finacial Year (2019-2020) months

  • or has raised not less than 12 lakhs through external equity investments (in last 12 months )

• KSUM Unique ID is mandatory

• Company incorporation as Pvt Ltd or LLP is mandatory.(OPC will not consider)

• Startups who are newly applying is eligible for a Scaleup Grant upto Rs.12 Lakhs

• Startups or Products who had already availed Idea Grant is eligible for Scale up Grant only upto Rs.10 Lakhs

• Startups or Products who had already availed productization Grant is eligible for Scaleup Grant only upto Rs.5 Lakhs

Not Eligible

• Startups who have already availed Scaleup Grant in previous times for same or different products

• No service projects or asset creation will be funded under scale up grant

• No outsourcing of entire product development activities or any major milestone outsourcing, purchase of self services and utilisation of the grant for CSR activities will not be considered

Selection

• The applications received by KSUM will first be shortlisted by a panel of experts.

• The completeness of the online application form including fund utilisation plans are mandatory for shortlisting and further selection

• For the shortlisted startup will be called for the presentation in front of the Expert committee . As per the Covid protocol

• The Final selection will be based on the recommendation from the expert committee and approvals from the authorities

The following procedure will be adopted for funding:

• Funding will be given based on the specific project detailing the utilisation and milestones.

• Funding will be given in tranches and the second tranche will be released on satisfactory completion of deliverables as per the milestones set during the first tranche.

• There should be no pending dues for the firm with KSUM or any other Government agencies.

Documents needed

• No dues Certificate

• Goodwill certificate

• Last Three Months Company Bank statement - In connection with Margin Money verification

• Documents in connection with revenue generation (CA certificate /Purchase order Shareholding agreement etc )

• Personal Guarantee of repayment of Grant (upon raising next rounds of VC investment)

Procedures for getting funds

• Due Diligence of the docs submitted

• Submission of company details and fund utilisation plan in the disbursement tracker portal

• Processing for approval

• Agreement execution with KSUM before the release

• Successive tranche will be released only after conducting an expert committee that review the milestones completion, fund utilisation and verification of Audited Utilisation Certificate of the initial tranche released

• Approximate time calculated for fund release after Final Pitch results is one month. It may vary as per documents are being received from startup and upon fund availability.

Important Dates

1. Applications Opening Date 6th January 2021

2. Applications Closing Date 26th January 2021

3. Shortlist Announcement 15th February 2021

Point of Contact :

Arun G

Assistant Manager

952 665 6669

arun@startupmission.in