Launched as a part of the ‘Grant for Incubation Centers within Educational Institutes Scheme’ of the Department of Information Technology, Electronics and Communications, Government of Goa. The scheme aims to provide funds for setting up and expanding incubation centers of educational institutions in Goa. The project is meant to bolster innovation, entrepreneurship and startups in the area by developing modern incubation facilities.
Benefits of the Scheme
- One-Time Capital Grant:
- Up to ₹10,00,000 for setting up incubation centers within campuses.
- Applicable to educational institutes affiliated with a recognized public university in Goa.
- Grant for Expansion:
- Institutes with existing incubation facilities can avail of the grant for further expansion.
- Operational Expense Support:
- Institutes with existing incubation facilities can receive ₹3,00,000 per year for a period of three years toward operational expenses.
- Annual Limit:
- The scheme is limited to a maximum of 15 institutes per financial year.
- Inclusivity:
- Incubation facilities must be accessible to startups beyond the institute’s students, encouraging broader entrepreneurial engagement.
Eligibility Criteria
- The applicant must be an educational institute in Goa affiliated with a recognized public university.
- Institutes with existing incubation centers are also eligible for grants for expansion or operational expenses.
Application Process
Online Application:
- Visit the Startup Goa Portal:
- Navigate to the Goa Startup Mission website.
- Register/Sign Up:
- Verify your email ID and mobile number using an OTP.
- Complete the registration form with mandatory details like name, address, date of birth, and contact information.
- Create a login ID and secure password.
- Log In:
- Use your credentials to log in to the portal.
- Fill the Online Application:
- Select the relevant scheme.
- Fill in mandatory fields, attach required documents, and submit the form online.
- Save the application reference number for tracking.
Offline Application:
- Download and Fill the Form:
- Obtain the application proforma and fill in the mandatory fields.
- Attach Documents:
- Include all required documents as per Annexure 1.
- Submit via Email:
- Send the completed application and documents to [email protected].
- Timeframe:
- Applications must be submitted within six months of incurring relevant expenses.
Documents Required
- Detailed expenditure plan for proposed expenses.
- Application form as per Annexure 1.
- Aadhaar-linked bank account details of the Principal/Director.
- Any additional documents required as per the scheme guidelines.
Important Notifications
- The Startup Promotion Cell (SPC) will evaluate applications within 45 days of receipt.
- Approval or rejection will be communicated to the applicant post-evaluation.
- Applications can be submitted any time during the financial year.
Frequently Asked Questions (FAQs)
- Who is eligible for the grant?
- Educational institutes in Goa affiliated with a recognized public university.
- What is the maximum grant amount?
- Up to ₹10,00,000 for capital expenses and ₹3,00,000 per year for operational expenses.
- Can institutes with existing incubation centers apply?
- Yes, they can apply for further expansion or operational expense grants.
- How many institutes can benefit per year?
- A maximum of 15 institutes per financial year.
- Can institutes restrict incubation facilities to their students?
- No, the facilities must be accessible to startups and entrepreneurs beyond their student community.
- Is this benefit guaranteed?
- No, benefits under this scheme are not an entitlement and depend on approval by SPC.
- What is the required bank account criterion?
- The Principal/Director’s bank account must be Aadhaar-linked.
- Which accounting standard is followed for eligible expenses?
- Accounting Standard 102 for Fixed Assets is used.
Key Points to Note
- The scheme supports the creation and expansion of incubation facilities, enhancing entrepreneurial infrastructure in Goa.
- Applications must adhere to all guidelines and include all required documents.
- Preference will be given to well-performing institutes.
Sources and References
- Startup Goa Mission Website
- Startup Goa Schemes and Guidelines
- Department of Information Technology, Electronics & Communications, Goa
For further details, visit the official Startup Goa website or contact [email protected].