RCB has collaborated with the Startup India Seed Fund Scheme (SISFS) under the Department for Promotion of Industry and Internal Trade (DPIIT). SISFS aims to offer financial support to startups for Proof of Concept (PoC), prototype development, product trials, market-entry, and commercialization.
The goal of SISFS is to provide seed funding to early-stage innovators to help them accelerate their ventures.
Funding support-
Up to Rs. 20 Lakhs as a grant for validation of Proof of Concept, prototype development, or product trials. The grant shall be disbursed in milestone-based installments. These milestones can be related to the development of prototypes, product testing, building a product ready for market launch, etc. Up to Rs. 50 Lakhs of investment for market entry, commercialization, and scaling up through convertible debentures, debt, or debt-linked instruments.