Pride of Kerala for the year 2022
The Government of Kerala has approved "Grand Kerala Startup Challenge", a funding scheme for startups to accelerate their growth in the Scaleup stage. The Grand Kerala Startup Challenge is implemented through Kerala Startup Mission, which is the nodal agency of Govt. of Kerala for startup related activities and schemes. One startup will be selected for the Grand Challenge, who will be winning the Startup Fund of Rs.50 Lakhs.
The Grand-Kerala Startup Challenge will have the 1st Prize Startup Funding of Rs.50 Lakhs to one promising startup and who will be announced as the “Pride of Kerala for the year 2022”.
Grand Kerala Startup Fund Scheme
- KSUM will support with a startup funding upto INR Rs.50 lakhs for one startup vide CCD (Compulsory Convertible Debentures)
- KSUM may also look for possibilities in equity participation with the startup, if required
- KSUM may also provide space at KSUM facilities at prevailing KSUM rates, provide mentorship and will be showcased in our selected premier events.
- KSUM Unique ID is mandatory
- Startup should be a Private Limited Company.
- Startup should have an innovative product with early revenue from the product
- The Startup should have raised a minimum of Rs.50 Lakhs Angel or VC funding
- The latest Business Valuation of the Startup should be only up to Rs.20 Crore
- Sectors: Startups belonging to any industry sectors can apply
- Service Startups are not eligible
- Major stake holding owned by the investors are not eligible
- Any debt financing (loan) is not considered as investment
- Shortlisting - The applications received by KSUM will first be scrutinised by KSUM officials.
- Expert Evaluation Committee - The shortlisted startups will make their presentations before an Expert Evaluation Committee, who will evaluate the overall merit of the proposal. The recommended startups will also undergo an internal due diligence by KSUM.This will be done in Online.
- Final Pitch - Startups who are selected from the Expert Evaluation Committee will pitch before the Final Pitch Committee at HUDDLE GLOBAL 2022. Only one from this will be selected for the Startup Funding of INR 50 Lakhs.The due diligence report will also be considered for the final winner. This is a physical event and the entrepreneur should appear in person, unless any exceptional circumstances allow for online.
All queries related to application may be mailed to [email protected]
with the subject Grand Kerala Queries: Application- Startup Name/Product name.
Point of Contact
Arun G: 95266 56669