The “Seed Capital Scheme” is an initiative by the Department of Information Technology, Electronics and Communications, Government of Goa, aimed at supporting innovative startups in the state. Through this scheme, eligible startups can avail a one-time grant of up to ₹10,00,000 to develop their Minimum Viable Product (MVP) or strengthen their business operations. The Start-up Promotion Cell (SPC) oversees implementation and selection.
Benefits
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Grant Amount: Up to ₹10,00,000/- one-time financial support for selected startups
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Number of Startups Supported: Up to 100 startups per year as per SPC guidelines
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Selection Criteria: Determined through SPC’s due diligence process
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Note: This is not an entitlement. Approval is solely at the discretion of SPC
Eligibility
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Applicant must be a startup certified by the Start-up Promotion Cell (SPC)
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Must hold a valid Startup Certificate Number issued by SPC
Application Process
Online Application
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Visit the Startup Goa Website
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Verify your Email ID and Mobile Number via OTP
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On the registration page, fill in personal details (Name, Address, Date of Birth, etc.)
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Create a Login ID and secure Password
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Agree to the Declaration and Terms & Conditions
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Fill the Captcha and click Register
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Log in and navigate to the Seed Capital Scheme form
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Fill all required fields and upload the necessary documents
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Submit the form and note the application reference number for tracking
Offline Application (via Email)
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Download and print the application proforma
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Fill out the form and attach self-attested supporting documents
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Submit via email to [email protected]
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Applications can be submitted anytime during the financial year
Evaluation Process
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SPC conducts inspection and verification of submitted applications
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Applications undergo due diligence on expenditure, plans, and MVP
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Recommendation is made for grant sanction or rejection
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Applicants are notified of the approval/rejection within 45 days
Documents Required
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Detailed Plan for development of Minimum Viable Product (MVP)
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Application Form and Annexure 1 documents as prescribed by SPC
Frequently Asked Questions
Q: What kind of research might the Startup Promotion Cell request applicants to participate in?
SPC may request feedback, product testing data, or case studies to assess impact.
Q: How can the applicant’s logo be used by the Startup Promotion Cell (SPC)?
The SPC may use it for publicity and promotion of Goa Startup ecosystem, with prior consent.
Q: What are the consequences if an applicant is found guilty of misrepresentation or fraudulent activity?
SPC may revoke the grant, blacklist the startup, and initiate legal action.
Q: Is there a specific format for the document detailing the journey to the MVP and user feedback?
Yes, SPC may provide guidelines or request structured reports as per Annexure format.
Q: Could you explain the term “prototyping methodology” briefly?
It refers to the approach used to build and test the MVP—such as iterative development or rapid prototyping.
Q: What is the significance of the term “Indicative expenditure”?
It’s an estimated budget showing how the grant funds will be used (e.g., for tools, software, development, etc.).
Q: Can you explain the concept of a Minimum Viable Product (MVP)?
An MVP is the most basic version of a product with essential features to validate with real users before scaling.
Q: Are there any declarations or consents that applicants need to provide?
Yes, applicants must agree to terms of disbursal, monitoring, and promotional usage.
Q: Could you provide details on the indicative expenditure required?
Applicants should list cost breakdowns—developer fees, equipment, licensing, testing, etc.
Q: What additional requirements are there for obtaining further benefits under this scheme?
Startups may be required to submit milestone reports, participate in evaluations, and comply with audit checks.
Q: What is the timeline for notifying the approval or rejection of applications?
SPC will notify applicants within 45 days of receiving a complete application.
Q: Can start-ups apply for this scheme at any time of the financial year?
Yes, applications are accepted year-round.