KSUM invites applications from start-ups for Govt’s Scale Up Grant

Kerala: Kerala Startup Mission (KSUM) has invited applications from startups for the state government’s Scale-up Grant, which is up to Rs 12 lakh, under Kerala Startup Innovation Drive 2021.

The Scale-up Grant is meant to support startups that are looking for scaling up their businesses and revenue, a release said here on Tuesday.

Startups that have generated Rs 12 lakh as revenue from the product in the last 12 months or Rs 50 lakh as total turnover revenue in the last financial year (2019-20) or have raised not less than Rs 12 lakh through external equity investments in the last 12 months can apply for the grant.

KSUM’s Unique ID is mandatory to apply for the grant.

Startups or products that had already availed of Idea Grant are eligible for Scale-up Grant only up to Rs 10 lakh. Those who had already availed of productization grant are eligible for Scale-up Grant only up to Rs 5 lakh, the release said.

Startups that have availed Scale-up Grant earlier for the same or different products cannot apply.

The applications will be shortlisted by a panel of experts and then they 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 release said, adding that the last date for submitting the applications is January 23 and the shortlist will be announced on February 15.

For registration, visit: https:ites.google.com/startupmission.in/innovationgrant/kerala-startup-innovation-drive-2020/innovation-drive?authuser=0

KSUM is the nodal agency of the government for entrepreneurship development and incubation activities in the state.