The Matching Grant Scheme is an initiative under the Start-up Policy 2017 by the Department of Information Technology, Electronics and Communications, Government of Goa. It aims to support start-ups that have successfully raised funds from recognized funding sources before launching their product in the market.
Benefits
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Start-ups that raise funds from a registered/recognized funding source prior to product launch will receive:
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25% of the matching funds, or
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A maximum of ₹25,00,000, whichever is lower.
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Support will be given at proportionate ownership of stock, after due diligence by the Start-up Promotion Cell (SPC).
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Limited to 20 start-ups per year selected by SPC.
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Approved funds are disbursed within 60 days from the date of approval.
Note: This is not an entitlement. Approval is subject to SPC’s discretion and due diligence.
Eligibility
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Must be a certified Start-up by SPC with a valid certificate number.
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The product for which benefit is claimed should not be launched in the market yet.
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Only digitally paid expenses (post notification of Goa Start-up Policy 2017) are eligible for reimbursement. Non-digital payments may be considered at SPC’s discretion.
Application Process
Online Mode:
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Visit the Goa Startup Mission official website.
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Verify Email ID and Mobile Number using OTP.
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Fill out the registration form with mandatory details.
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Create a Login Name and Password.
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Accept the terms and conditions, enter the captcha, and register.
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Log in using your credentials.
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Access the application form for the scheme.
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Complete all required fields and upload mandatory documents.
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Submit the application and note the reference number.
Offline Mode (via Email):
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Download and print the application proforma.
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Fill out the form and attach all self-attested required documents.
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Email the completed form and documents to [email protected].
Note: Applications should be submitted 1–3 months before product launch.
Notification
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SPC will evaluate applications within 45 days from receipt and notify applicants of approval or rejection.
Documents Required
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Complete Business Model Canvas
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Copy of Aadhaar Card of Director/CEO
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Bank Certificate confirming fund transfer to company account
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Details or Registration Certificate of Funding Agency
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Copy of Term Sheet / Funding Instrument
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Documents as mentioned in Annexure 1
Note: Directors’ bank accounts must be Aadhaar-linked.
Frequently Asked Questions
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Q: How many times can a start-up avail of this benefit?
Only once, and only 20 start-ups per year are selected. -
Q: Can I apply if I’ve already launched the product?
No. The product should not be available in the market at the time of application. -
Q: Is digital payment mandatory?
Yes. Only digitally paid expenses will be considered, unless approved by SPC.