The Startup Spark Program, launched by SINE IIT Bombay in collaboration with HDFC Bank Parivartan, is a transformative 12-week accelerator program aimed at helping early-revenue, technology-driven startups scale and reach their full potential.
If you are researching how to raise funds for a startup in India, this initiative is a premier opportunity to secure equity-free capital and elite mentorship.
The program focuses on startups in deep-tech and advanced technology domains that are ready for commercialization. Whether you're working in mobility, energy, semiconductors, or any other disruptive technology, the Startup Spark Scheme offers funding, mentorship, and networking opportunities to help your startup grow and thrive.
In this comprehensive guide, we'll provide you with all the essential Startup Spark details, including:
- What the Startup Spark Scheme is
- Startup Spark eligibility criteria for applicants
- Focus areas and program benefits
- Documents required for Startup Spark applications
- How to apply for the Startup Spark program
Is your tech startup ready to scale? Apply for the Startup Spark Scheme today and receive ₹50 Lakhs in grant funding and mentorship to accelerate your growth!
What is the Startup Spark Program?
The Startup Spark Program is a high-impact accelerator designed to support early-stage technology startups. The program aims to help tech entrepreneurs scale their innovative products and take them to market effectively.
The focus is strictly on deep-tech startups that are working on disruptive technologies with high potential for commercialization, similar to the objectives of the MeitY Genesis EIR 2 initiative.
Key Features:
Grant Support
Up to ₹50 Lakhs in milestone-linked grant support.
Expert Mentorship
Guidance from industry veterans and successful entrepreneurs.
SINE Ecosystem
Access to SINE/IIT Bombay ecosystem and corporate partners.
Investor Visibility
Demo Day presentations to top-tier venture capitalists.
Global Access
Exposure to 500 Global network for international scaling.
The Startup Spark Program provides selected startups with the resources they need to move from the prototype stage to full commercialization, offering financial support, technical expertise, and access to a strong network of investors and business leaders.
Eligibility Criteria for Startup Spark Program
To ensure your application is successful, you must meet the specific Startup Spark eligibility requirements. These criteria are designed to identify startups that are past the basic ideation phase and ready for market deployment.
Eligibility Criteria
| Criteria | Details |
|---|---|
| Startup Type | Must be a technology-focused startup registered under the Companies Act, 2013 (Private Limited). |
| Technology Readiness Level (TRL) | Must have a TRL of 5 or above, meaning the product has been validated in a relevant environment. |
| Stage of Startup | Early-revenue startups with market traction or clear evidence of customer adoption. |
| Founder Commitment | Founders must demonstrate a full-time commitment to commercialization and scaling. |
| Disruptive Technology | Must work in deep-tech domains like AI, Quantum Computing, Energy, or MedTech. |
Is your tech startup past the prototype stage? Apply for Startup Spark and get funding and mentorship to reach commercialization!
Focus Areas of the Startup Spark Program
The Startup Spark Scheme supports technology-driven startups across several critical sectors. If your venture aligns with these areas, you may also benefit from exploring funding instruments for startups that complement this grant.
Key Focus Sectors:
🚗 Mobility & Electric Vehicles (EVs)
Startups working on electric mobility, EV infrastructure, and green transportation solutions.
⚡ Energy & Battery Technology
Solutions focused on renewable energy, battery storage, and smart grid technologies.
🤖 Artificial Intelligence (AI)
AI-driven innovations in healthcare, fintech, manufacturing, and automated systems.
💻 Semiconductors
Innovations in hardware, chips, and related technologies.
🔬 Quantum Technology
Startups working on quantum computing, cryptography, and advanced simulation systems.
🏥 Bioengineering & Healthcare
MedTech innovations, medical devices, and biomedical technology.
🤖 Robotics & Smart Manufacturing
Automation solutions and robotic systems for industrial applications.
🌱 CleanTech & Sustainability
Waste management, environmental tech, and clean technologies for a sustainable future.
Is your startup innovating in energy, AI, or healthcare? Apply for Startup Spark today and get seed funding and strategic mentorship!
Benefits of the Startup Spark Scheme
The Startup Spark Scheme provides a holistic support system that goes beyond simple capital injection. It helps founders navigate legal consultancy and market entry hurdles.
Grant Support
Up to ₹50 Lakhs in milestone-linked grant support.
Expert Mentorship
Guidance from industry veterans and successful entrepreneurs.
SINE Ecosystem
Access to SINE/IIT Bombay ecosystem and corporate partners.
Investor Visibility
Demo Day presentations to top-tier venture capitalists.
Global Access
Exposure to 500 Global network for international scaling.
Ready to accelerate your startup's growth? Apply for the Startup Spark Scheme and gain access to funding, mentorship, and global visibility!
Documents Required for Startup Spark Application
To apply for the Startup Spark Program, you will need to submit the following documents:
Required Documents Checklist:
- ✓Pitch Deck: A detailed deck explaining your problem, solution, business model, and traction.
- ✓Executive Summary: A concise overview of your vision and market opportunity.
- ✓Business Plan: A comprehensive roadmap with financial projections and scaling milestones.
- ✓Technology Description: Details of your product, including MVP demo and TRL evidence.
- ✓Founders' CVs: Professional resumes of the core team showcasing domain expertise.
- ✓Market Analysis: Data covering competitors, target market, and customer segments.
- ✓Current Traction: Evidence of revenue, user base, or signed LOIs/partnerships.
- ✓Legal & Compliance Documents: Business registration certificates, MSME certification, and IP/patent filings.
How to Apply for the Startup Spark Program
The application process for the Startup Spark Program is simple and involves the following steps:
Prepare Your Documents
Submit Your Application
Evaluation Process
Interview & Pitch
Funding & Mentorship
Don't wait to scale your tech startup! Apply for Startup Spark today and get seed funding, mentorship, and exposure to top investors!
FAQs: Startup Spark Program
What is the Startup Spark Program?
The Startup Spark Program is an accelerator providing ₹50 Lakhs in seed funding, mentorship, and networking to help deep-tech startups scale and commercialize.
What is the maximum funding available under Startup Spark?
Selected startups can receive up to ₹50 Lakhs as a milestone-linked grant.
Who is eligible for the Startup Spark Program?
Startups must be registered Private Limited companies with a product at TRL 5 or above and show early market traction.
What are the key documents required for Startup Spark?
The main documents are a Pitch Deck, Business Plan, Founders' CVs, and proof of technology readiness.
Is this different from a without security business loan?
Yes. Unlike a without security business loan, the Startup Spark is a grant, meaning it is non-repayable equity-free capital.
Conclusion: Why Apply for the Startup Spark Scheme?
The Startup Spark program provides an incredible opportunity for early-stage tech startups to move from the "valley of death" to sustainable commercialization. With up to ₹50 Lakhs in seed funding and mentorship from one of India's top incubators, it's the perfect launchpad for disruptive technology.
Whether you are seeking unsecured business loans or equity-free grants, this program is a vital part of the fundraising ecosystem in India. For more details on program integrity, you can read the truth about Enego services.
Stop waiting to scale your startup!
Contact Enego today for expert guidance on your Startup Spark application and secure the funding your startup deserves.