Navigating Early-Stage Fundraising: A Guide to Startup Funding for Idea and Prototype Development in India

Introduction: Launching a startup with just an idea can be challenging. fortunately, in India, several government initiatives provide critical financial support for early-stage entrepreneurs.

1. NIDHI PRAYAS

The NIDHI PRAYAS program aims to support idea-stage entrepreneurs in developing prototypes.

Funding: Up to INR 10 lakh for prototype development.

2. NIDHI Seed Fund

Provides further financial support for startups with promising prototypes.

Funding: Up to INR 1 crore.

3. Startup India Seed Fund Scheme (SISFS)

Provides seed funding to help startups cover expenses such as prototype development and market-entry costs.

Funding: Up to INR 20 lakh for proof of concept, plus INR 50 lakh for market entry.

4. Atal Innovation Mission (AIM) and Atal Tinkering Labs (ATL)

Promotes innovation across India through Atal Tinkering Labs in schools and colleges.