Guwahati-Based Startup Incubator to facilitate up to Rs 50 Lakh Seed Capital
In short
- ICCo, a Guwahati-based startup incubator, has facilitated Startup India Seed Fund Scheme (SISFS)
- The program offers investments ranging from Rs 10 lakh to Rs 50 lakh and provides mentorship across various sectors
- Startups will receive guidance on business modeling, regulations, and market readiness
With an aim to boost the startup ecosystem of Northeast and aid emerging startups, particularly those who are less than two years old, ICCo- Guwahati-based development agency and startup incubator, started with a startup outreach program for the Startup India Seed Fund Scheme (SISFS) under Startup India at Assam Textile Institute, Guwahati.
Talking to Business North East (BNE), Gayatri Baruah, Chief Program Manager, ICCo, Guwahati stated that "ICCo is one of the recognized incubators under DPIIT-backed initiative of the Ministry of Commerce and Industry, and we are supporting the application, due diligence, and mentorship process for the eligible startups from all sectors, not only agriculture, but also healthcare, education, and particularly technology-driven innovations."
"The program mainly focuses on startups less than two years old and covers several industries, ranging from agritech and healthtech to education and deep-tech. It aims to aid startups at the most vulnerable stage of their journey with an investment of Rs 10 lakh to Rs 50 lakh," Baruah said.
Startups undergo an application and screening stage, then due diligence for 45 days. After selection, they are offered guidance on business modelling, regulation, and scaling up. The non-returnable component of approximately 20% of the capital is repaid with the remainder repayable as per the startup's business model," Baruah added.
Emphasizing ICCo's ecosystem strategy, she further said, "We not only incubate, but also provide market connections. Our mentors comprise industry experts, angel investors, and business strategists who guide everything from packaging design to certifications and compliance sanitation. For instance, most startups lack knowledge of key quality certifications needed to penetrate markets our mentors fill that gap. Startups will be hand-held through technical and market-readiness as well," she further added.
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