Matching Grant Scheme

About This Scheme

The scheme “Matching Grant Scheme” is a scheme by the Department of Information Technology, Electronics and Communications, Government of Goa, for the Startups of Goa. The scheme is a part of the Start-up Policy 2017. The Start-ups that raise funds from a registered/recognized funding source prior to the product launch phase will be provided 25% of the matching funds or a maximum benefit of ₹ 25,00,000, at proportionate ownership of stock, subsequent to due diligence by the Start-up Promotion Cell (SPC).

Eligibility

1. All the Start-ups certified by the Start-up Promotion Cell (SPC) having a valid start-up certificate number are eligible. 1. The product for which the benefit is being claimed should not have been made available in the market previously. NOTE: Only expenditures incurred after notification of Goa Start-up Policy 2017, being within the validity of this policy and paid for digitally will be considered for reimbursement under this scheme. If digital payments are not possible then it shall be up to the decision of SPC as per its due diligence to admit the expenditure.

Benefits

1. Start-ups that raise funds from a registered/recognized funding source prior to the product launch phase will be provided 25% of the matching funds or a maximum benefit of ₹ 25,00,000, at proportionate ownership of stock, subsequent to due diligence by the Start-up Promotion Cell (SPC). 1. This benefit can be availed by 20 start-ups each year which shall be selected by the SPC as per its due diligence and guidelines. 1. Once the application is approved by the SPC, the approved amount shall be disbursed within 60 days from the date of approval. NOTE: Under no circumstance shall the benefits under this scheme be considered an entitlement. The SPC shall reserve the sole right to accept or reject applications.

How to Apply

Where This Comes From

This scheme was sourced from myScheme, the Government of India's official Central+State scheme discovery portal, and reviewed by an editor before publishing. Use the button above to read the full details and apply directly on the official source.