On July 23, 2024, the Industries and Commerce Department of the Haryana Government announced the SEED FUNDING FOR START-UPS SCHEME under the Haryana State Startup Policy 2022. This initiative aims to provide financial support to startups registered under this policy, fostering a robust startup ecosystem in the state.
Objective of the Scheme
The Haryana Government is dedicated to facilitating ease of doing business and positioning the state as a prime investment destination. The SEED FUNDING FOR START-UPS SCHEME is a part of the Haryana State Startup Policy 2022, which aims to create a world-class startup ecosystem. This scheme is designed to support eligible startups in their early stages, helping them grow and strengthen their operations in Haryana.
Quantum of Assistance
To support startups financially, the scheme offers seed grants to Haryana-based startups:
- Funding Allocation:
- Category A Blocks: Up to INR 10 Lakh per startup for 100 startups.
- Category B Blocks: Up to INR 10 Lakh per startup for 250 startups.
- Category C Blocks: Up to INR 10 Lakh per startup for 750 startups.
- Category D Blocks: Up to INR 10 Lakh per startup for 1000 startups.
- Block Categorization: The categorization of blocks follows the Haryana Enterprises and Employment Policy 2020 and its subsequent amendments.
- Usage of Seed Grant: The seed grant can be used for various purposes including:
- Validation of ideas
- Proof of concept demonstration
- Prototype development
- Traveling costs (up to INR 50,000)
- Field/market research and marketing (up to INR 50,000)
Procedure for Availing Incentives
- Online Application:
- Startups must apply online through the web portal of the Department of Industries & Commerce, Government of Haryana.
- The application should be in the prescribed format (as per Annexure-I) and include all required supporting documents.
- Application Examination:
- The submitted application will be reviewed by the department.
- If there are any deficiencies in the application, the startup will be notified through their user account on the portal.
- The startup must rectify the deficiencies within 10 working days of receiving the notification.
- Handling Deficiencies:
- If the startup fails to correct the deficiencies or provide the required additional information within the given timeframe, the application will be deemed rejected or closed.
- The status of the application (whether approved or rejected) will be updated in the startup’s user account.
- Evaluation and Approval:
- Once the application is found complete, it will be presented to the Evaluation & Approval Committee for consideration.
- The startup will be called to present their idea, product, or service to the committee for final approval.
Commencement and Duration
The scheme is effective from July 07, 2022. It will remain operational for five years until July 06, 2027, or until the government decides to discontinue, amend, or extend the scheme
