GUSEC Seed

Upto ₹50 Lakh in Seed Support for Startups

NIDHI SSS (Seed Support System) at GUSEC Supported by NSTEDB, DST

Under the aegis and support of the MEITY Startup Hub (MSH) of the Ministry of Electronics and IT, Government of India, GUSEC has been recognized as a Technology Incubation and Development of Entrepreneurs (TIDE) Incubation Centre.

The GUSEC Seed is a seed fund for startups at GUSEC, established through the Seed Support System (SSS) scheme of the National Initiative for Developing and Harnessing Innovations (NIDHI). NIDHI-SSS is a flagship seed funding scheme of the National Science and Technology Entrepreneurship Development Board (NSTEDB), an autonomous board of the Department of Science and Technology, Government of India. Through GUSEC Seed, startups incubated at GUSEC have an opportunity get seed funding support of up to ₹50,00,000 through an investment against equity, debt or a mix of both.

Portfolio Companies

Geosafe

GeoSafe is an end-to-end GPS solution for enterprise. And also develops customised GPS software to suit their clients' needs.

GeoSafe Website
Plutomen

Plutomen ARMS is an Augmented Reality based Remote Assistance & Collaborative Platform (B2B & B2B2C) intended to help field service technicians and off-site employees.

Plutomen Website
WeHear

WeHear is a hearing care company originated with the aim of developing the most effective and economical hearing solutions.

WeHear Website
Limelightit

Plug and play solutions for hospital oxygen lines to make monitoring, audits, and leakage alerts completely automated with an easy-to-use dashboard.

Limelightit Website
Respire Power Solutions

Fewer than 10% of the population receive timely respiration support, which is critical in patients with viral diseases, traumatic injuries, respiration disorders and sleep apnea cases.

Respire Power Solutions Website
MicroFinance

The startup works to simplify micro-credit through AI-led mobile platforms for underserved borrowers. Realising the fact that conventional FinTech platforms do not cater to the low-income segment, MicroFinance.

microfinance.ai Website
Impactree

Impactree harvests the power of data to amplify on ground impact. With the mission of positively impacting 5 million people by 2025, they have directly impacted 737082 people from positively scaled programmes.

Impactree Website
Ecoimpulse

Solar Panel Cleaning Robot is specifically developed to clean solar panel with spotless technique without using a single drop of water.

Ecoimpulse Website
Stride Dynamics

They building Miniature aerial robots for visual data collection in challenging environments. Our goal is to build indigenous, reliable and smarter aerial robots that can operate in GNSS-denied environments, perform fully autonomous operations and cater for Enterprises, Government, & Defence Applications.

Indiesemic
Abyom

Abyom is India s First SpaceTech Company developing Space Infrastructure and Reusable Rockets with re-ignitable and throttleable cryogenic engines capable of multi-launching within minimal time and at an affordable cost.

Abyom
IDR

Team IDR Research and Development Private Limited is working on NextGen drone related technologies including others, which can revolutionize the approach towards made in India as well as self reliant India in Indian drone Industry .

IDR
Indiesemic

Indesemic is a innovative startup specialising in the design and develpment of RF Modules and semi conductor chipsets. With a focus on sectors like healthcare, automobile,robotics, and cutting edge electronics, Indesemic is dedicated to puching the boundaries of technology. Their products are characterizedby their reliability,

Indiesemic
Inferigence Quotient

Deep Tech Startup focusing on Certifiable Autonomy for UAVs, Military and Civil ISTAR, and Other Niche Applications of AI-ML and Other Scientific Algorithms

Inferigence Quotient
Sikern Semiconductor

The startup designs MEMS microphones for smartphones, laptops, Bluetooth, headphones, earing-aid, machine learning, and IoT applications

Abyom
SMARTAIL

SMARTAIL, an Artificial Intelligence Company – To empower innovative and impactful AI applications for the education sector emerging from India’s startup ecosystem to globally.

Smartrail
Jajal Medical Services

Make 3D visualization, digital planning and 3D printing a standard of care for complex surgeries.

Jajal Medical Website

Eligibility

Incorporated Startup

The startup should be a registered company (Private Limited or LLP) in India. Funding would be released to startups with a minimum of three months of incubation at GUSEC, however, non-incubated startups are welcome to apply. Application for GUSEC Seed will also be considered as an application to GUSEC Incubation.

Indian promoters

The shareholding by Indian promoters in the incubatee start up should be at least 51%. Persons holding Overseas Citizens of India (OCI), Persons of Indian Origin (PIO) would be considered as Indian citizens for the purpose of this scheme.

Criteria of Preference

Preference for seed support will be given to the following startups:

  • Technology-oriented startups
  • Early-stage startups with traction
  • Product Startups
  • Intellectual Property / knowledge-rich startups
  • Startups raising larger rounds, with GUSEC contributing a part of the requirement of the fundraising round

Indian startup

The startup has to be an Indian startup. This support is not meant for Indian Subsidiaries of MNCs/foreign companies. The startup should also fall under the definition of a startup as issued by DPIIT, Govt of India. Startups having a DPIIT-recognised startup certificate will be preferred.

Full utilization of previous funding / grant support

No unutilized grant through GUSEC or any other incubator should be earmarked in the name of the startup at the time of release of funding under this Fund.

Incubation at GUSEC

Exclusive incubation at GUSEC is mandatory for startups to avail support under GUSEC Seed. Non-incubated startups are welcome to apply to GUSEC Seed, however first tranche will be disbursed to startups after first 3 months of incubation at GUSEC. Application for GUSEC Seed will also be considered as an application to GUSEC Incubation.

Startups should also be fully compliant with all the various mandatory Incubation compliances at GUSEC, such as:

  • Complete compliance with the Startup Progress Review (SPR) calls
  • Renewal of Incubation (Form-D) requirements
  • Community Development Contribution (CDC) policy

Steps to Fund Raisng

Application Window
First-level Scrutiny
Second-level Scrutiny
Selection and due diligence
Soft Confirmation

Standard Funding Terms

The following are the standard and typical funding terms of the seed support under GUSEC Seed. Specific terms, such as equity, debt, and the financial instruments to be used, tenure of funding, the quantum of funding, etc. will vary from startup-to-startup.

  • Quantum: Startups would generally be able to leverage investments up to ₹50,00,000 under GUSEC Seed
  • Instrument: Funding would be made available against equity or debt, or a mix of both, to the startup
  • Progress Reporting: Half-yearly presentation on progress made to the SSMC for a minimum of 12 months after conclusion of utilisation of funds
  • Financial Reporting: 
    • Quarterly Financial Reporting, as required by GUSEC
    • Annual Financial Reporting, with Audit Reports, as required by GUSEC
    • Submission of Utilisation Certificate (UC) upon successful utilization of funds disbursed
  • MIS Reporting: Startups may also need to report via MIS / other online modes as required by GUSEC from time-to-time

Questions?

Please direct any questions you may have to our Seed team at the following coordinates:

Email: [email protected]

We typically respond to queries within 48 working hours. Our typical working hours for addressing general queries are from 11AM and 6PM, Mondays through Fridays.

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