KSUM invites applications for Innovation Grant for start-ups

PTI Thiruvananthapuram | Updated on September 22, 2021

There are three categories of grants — Idea Grant, Productization Grant, and Scale-up Grant

The Kerala Startup Mission (KSUM) has invited applications from start-ups and entrepreneurs for the State government’s Innovation Grant under Kerala Startup Innovation Drive 2021.

The scheme is meant to provide financial support to start-ups and entrepreneurs to help them convert their innovative ideas into full-fledged ventures.

Since innovators often find it difficult to get early-stage funding, the government has introduced the Innovation Grant scheme to help fledgling enterprises and start-ups, an official statement said here.

Three categories

There are three categories of grants — Idea Grant, Productization Grant, and Scale-up Grant.

Except for Idea Grant, KSUM’s Unique ID is mandatory to apply, it said.

Idea Grant, which consists of ₹2 lakh per idea, will be provided primarily for startups/students, who have a prototype or Minimum Viable Product (MVP) to develop the final version.

Start-ups that have already availed the Idea Grant cannot apply.

Those who are planning to convert their MVP into a full-fledged product can apply for ₹7-lakh Productization Grant, it said, adding that the Scale-up Grant, pegged at ₹12 lakh per idea, is to help start-ups ramp up their products or sales.

Also see: Kerala aims to have 15,000 startups by 2026: CM opens Digital Hub

The applications will be shortlisted by a panel of experts and then each shortlisted start-up will be called for a presentation before an expert committee, adhering to the Covid-19 protocol.

The final selection will be based on the recommendation by the expert committee, the statement said, adding that the last date of applications is September 30.

KSUM is the nodal agency of the Kerala Government for entrepreneurship development and incubation activities in the State.

Published on September 22, 2021

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