Under the “Matching Grant Scheme”, the Start-ups that raise funds from a registered/recognized funding source prior to the product launch phase will be provided 25% of the matching funds or a maximum benefit of ₹ 25,00,000, at proportionate ownership of stock, subsequent to due diligence by the SPC.
Matching Grant Scheme - Introduction
The scheme “Matching Grant Scheme” is a scheme by the Department of Information Technology, Electronics and Communications, Government of Goa, for the Startups of Goa. The scheme is a part of the Start-up Policy 2017. The Start-ups that raise funds from a registered/recognized funding source prior to the product launch phase will be provided 25% of the matching funds or a maximum benefit of ₹ 25,00,000, at proportionate ownership of stock, subsequent to due diligence by the Start-up Promotion Cell (SPC).
Benefits
- Start-ups that raise funds from a registered/recognized funding source prior to the product launch phase will be provided 25% of the matching funds or a maximum benefit of ₹ 25,00,000, at proportionate ownership of stock, subsequent to due diligence by the Start-up Promotion Cell (SPC).
- This benefit can be availed by 20 start-ups each year which shall be selected by the SPC as per its due diligence and guidelines.
- Once the application is approved by the SPC, the approved amount shall be disbursed within 60 days from the date of approval.
NOTE: Under no circumstance shall the benefits under this scheme be considered an entitlement. The SPC shall reserve the sole right to accept or reject applications.
Eligibility
- All the Start-ups certified by the Start-up Promotion Cell (SPC) having a valid start-up certificate number are eligible.
- The product for which the benefit is being claimed should not have been made available in the market previously.
NOTE: Only expenditures incurred after notification of Goa Start-up Policy 2017, being within the validity of this policy and paid for digitally will be considered for reimbursement under this scheme. If digital payments are not possible then it shall be up to the decision of SPC as per its due diligence to admit the expenditure.
Application Process
- Step 1: Visit the goaonline.gov.in of Goa Startup Mission.
- Step 2: Verify your Email ID and Mobile Number using OTP. You will be redirected to the Registration Page.
- Step 3: On the Registration/Signup Page, fill in all the mandatory fields of the registration form (Country, Name, Date of Birth, Address, PIN Code, Gender, etc.).
- Step 4: Create a Login Name and a strong Password (Password can have special characters like @ # $ % ^ & + =).
- Step 5: Carefully read the Declaration and the Terms & Conditions, and tick the checkboxes.
- Step 6: Fill in the Captcha Code, and click "Register/Signup".
- Step 7: Login to the website using your Login Name and Password. Fill in the Captcha Code, and click "Login".
- Step 8: Navigate to the online application form for the relevant scheme.
- Step 9: In the application form, fill in all the mandatory fields and upload all the mandatory documents (self-attest if required).
- Step 10: Submit the application and note the application reference number for application tracking.
OR
- Step 1: Take a print of the proforma of the application form. Fill in all the mandatory fields, and attach copies of all the mandatory documents (self-attest if required).
- Step 2: Submit the duly filled and signed application form along with the documents to SPC via Email at [email protected]
NOTE: The applicant can apply for this scheme at any time of the financial year, but at least 1- 3 months prior to product launch.
Notification
The applications received by the SPC shall be evaluated and approval or rejection shall be notified within 45 days from receipt of the application by the SPC.