Scheme for assistance for Start Ups/ Innovation: Pre- Series A Funding

DETAILS The "Scheme for Assistance for Start Ups/ Innovation" is an umbrella scheme launched by the Industries and Mines Department, Gujarat under the Gujarat Industrial Policy. Effective from August 7th, 2020 to August 6th, 2025, it aims to drive economic growth by generating jobs, fostering competition, and introducing next-gen solutions. The component "Pre-Series A Funding", bridges the financial gap known as the "valley of death" in a startup's lifecycle. This phase occurs after commercialization, when startups begin generating revenue but have not yet gained significant market traction. Under Gujarat Venture Finance Limited (GVFL), a special fund is created to provide mid-level Pre-Series A funding to startups, particularly those that have received seed support under various government schemes. BENEFITS Bridges Funding Gap: Provides financial support during the critical "valley of death" phase. ELIGIBILITY Any individual or group of individuals with an innovative idea or concept, recommended by an approved Nodal Institution, is eligible. The scheme is open to startups in any sector or branch of science, technology, engineering, agriculture, healthcare, etc., making it sector-agnostic. Note: Startups availing benefits under the Student Startup and Innovation Policy (SSIP) are also eligible. Exclusions Entities formed by splitting or restructuring an existing business are not considered startups under this scheme. Startups availing benefits under other startup schemes of the Government of Gujarat are ineligible.