PROGRESS REVIEW MEETING
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Kerala Startup Mission will assess the progress of startups before disbursing the second tranche of the grant and upon the complete utilization of the grant fund. Startups must submit a Progress Report and a utilization certificate issued by a Chartered Accountant to initiate the release of the second tranche of funds. A committee of experts, appointed by KSUM, will review the progress before releasing the remaining amount. If necessary, startups may be asked to provide a demonstration.
Procedure for Scheduling Meetings:
Initial Screening by the Innovation Grant Team
Review by the Finance Team
Check for variations in fund utilization.
Validate the Chartered Accountants' UDIN status.
Expert Committee Review
Evaluate the progress of the startup.
Document needed
Document needed
Fund utilisation and Statement of Expenditure certificate
Idea Grant, Productization/Women Productization Grant, Market Acceleration Grant & Scaleup Grant
Template (Download Template)
Student Idea Grant
Template (Download Template)
Please Note: - For student Progress Report (Maximum 3 page and IEDC coordinator sign is mandatory )
Research & Development Grant (R&D Grant)
Template - (Download Template)
Please note: Before obtaining signature, seal and UDIN from the Chartered Accountant, we kindly request that you prepare a draft Utilisation Certificate and have it reviewed by the KSUM Finance or Funding team. This will help prevent the need for multiple visits to the Chartered Accountant for corrections. You can connect with Mr. Nizar Ahammed (nizar@startupmission.in) from finance in this regard.
Grant Amount utilisation Guideline:-
Grant cannot be used for
Payment of rent and other utility charges
Purchase of assets
Purchase of costly devices (will be allowed to use devices available with KSUM and its member IEDC’s or incubators)
Patenting expenses (Innovators can apply for the patent reimbursement scheme)
Salaries for the founding team
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