NIDHI-SSP (Seed Support Program)

The NIDHI Seed Support Program (SSP) provides early-stage investment to startups. The funding is aimed at helping startups transition from prototype to market-ready products by supporting activities such as product development, trials, and initial market entry.

Funded by the Department of Science & Technology (DST), Government of India, this scheme plays a critical role in helping promising startups become investable ventures.

For Startups:

• Must be a company registered in India, preferably DPIIT registered/applied
• Should have completed a minimum 3 months of association with the incubator (resident or virtual)
• Must have developed clarity on Unique Selling Proposition through customer validation
• Must have established value proposition for targeted customers
• The shareholding by Indian promoters in the startup should be at least 51%
• Indian subsidiaries of MNCs/foreign companies are not eligible
• Should have a formal business plan for the idea they intend to pursue

You are not eligible if:

• Startups that have not achieved a Minimum Viable Product (MVP) stage
• Startups without a clear path to generating returns
• Startups that have already received substantial external funding
• Entrepreneurs pursuing non-technology business ideas
• Indian subsidiaries of MNCs/foreign companies

• Investment Size: Typically between ₹20 to ₹50 lakhs (exceptionally up to ₹1 crore).
• Mode of Support: Funding is provided via a Compulsorily Convertible Debenture (CCD) or equity-linked instrument.
• Support Scope: Covers scale-up, commercialization, market trials, regulatory approvals, and technical mentoring.

• Product-based startups in FinTech, CleanTech, AgriTech, Healthcare, and Impact-for-profit.
• Startups solving high-priority national challenges.
• Founders demonstrating clarity of value proposition and market validation.

• Product and technology development
• Market entry and pilot testing
• Regulatory testing or certifications
• IP filings, mentoring, and consultancy
• Limited technical hiring (with caps)
• Note: Not more than 10% of the fund should be used for team salaries.

• Loan repayments or debts of promoters
• Buying shares, dividends, or creating personal assets
• Inter-company deposits or speculative investments
• Travel unrelated to business development
• Promoter benefits or unrelated hiring

• The funding is milestone-based and disbursed in tranches.
• Agreement required between the startup and VentureStudio before disbursal.
• Monitoring includes submission of periodic reports and achievement of milestones.
• Repayment terms (if debt is used) are generally coterminous with incubation period, extendable up to 5 years with a possible 12-month moratorium.

VentureStudio implements NIDHI-SSP through a transparent, structured process:

• Application & Screening: Open calls for proposals via website/social media.
• Evaluation by team and jury
• Agreement: Selected startups sign a CCD-based legal agreement.
• Milestone Definition: Startup and incubator co-define project deliverables.
• Fund Disbursement: Tranches are released based on milestone verification.
• Monitoring & Reporting: Regular tracking, reporting to DST, and support for investor readiness

VentureStudio is no longer accepting applications for this scheme. Please check back for an update.