Interest Subsidy Reimbursement Scheme

The Interest Subsidy Reimbursement Scheme is run by the Department of Information Technology, Electronics and Communications, Government of Goa. It is designed for startups certified by the Goa Startup Promotion Cell (SPC). Under this scheme, a startup first takes a commercial or bank loan on its own. The government then reimburses a part of the interest paid on that loan. This reimbursement is a grant and does not need to be repaid. The scheme supports projects that show strong promise and potential. It is part of the Goa Start-up Policy 2017 and aims to reduce the financial burden of loan interest for emerging businesses in the state.

• Interest reimbursement subsidy
• Up to ₹10 lakh over 2 years
• For certified Goa startups
• Supports commercial/bank loans
• Apply anytime during the financial year

To apply, a startup must be certified by the Goa Startup Promotion Cell (SPC) with a valid certificate. Directors' bank accounts must be linked to Aadhaar. Only expenditures incurred after the notification of the Goa Start-up Policy 2017 and within its validity period are eligible. Payments must be made digitally. Applications must be submitted within 6 months of the date the relevant expenditure was incurred. There are no specific restrictions on industry, stage, or entity type, but certification by the SPC is mandatory.

Interest Subsidy Reimbursement Scheme is open to startups at any stage. It is open to startups registered anywhere in India.

Interest Subsidy Reimbursement Scheme accepts applications on a rolling basis — there is no fixed cut-off date, so eligible startups can apply at any time. Because rolling programmes can pause without notice, confirm the window is still open on the official site before you start.

The scheme offers a non-repayable interest subsidy reimbursement on commercial/bank loans. Startups are placed into two tiers:

• Tier 1 (top 3 startups selected by SPC): Reimbursement of 30% of the loan interest amount, up to ₹5,00,000 per year for two years, totalling ₹10,00,000.

• Tier 2 (up to 40 startups per year): Reimbursement of 10% of the loan interest amount, up to ₹2,00,000 per year for two years, totalling ₹4,00,000.

This support directly reduces the cost of capital by easing the interest payment burden.

Interest Subsidy Reimbursement Scheme is offered by Goa Startup Mission, a government body. As a government-backed subsidy, it is publicly funded and open to eligible startups across India. You can verify current details and timelines on the provider's official website before applying.

Applications are evaluated by the Startup Promotion Cell (SPC). Approval or rejection is notified within 45 days from the date of receipt of the application.

Before you apply to Interest Subsidy Reimbursement Scheme, keep the following documents ready:

• A pitch deck or short business plan describing the problem, product and traction
• Company registration documents and PAN
• Founder identification (PAN / Aadhaar) and brief profiles
• Recent financial statements or projections
• Product details — a demo, prototype or working link if available

Exact requirements are confirmed on the official application portal — treat this as a preparation checklist.

Interest Subsidy Reimbursement Scheme is best suited for startups in India seeking non-dilutive funding of ₹4L – ₹10L. If that describes your startup, review the eligibility criteria above before applying.