SIDBI-iDEX Seed Fund Programme at SINE, IIT Bombay
Equity seed funding (₹10L–₹1.5Cr) for iDEX challenge-winner MSMEs/startups in defence and related sectors, implemented by SINE IIT Bombay.
- Funding amount
- ₹10L – ₹1.5Cr (equity)
- Funding type
- Equity
- Provider
- SINE, IIT Bombay (Academic)
- Application deadline
- Closed (25 Jun 2026)
- Eligible stage
- Any stage
- Location
- Open to startups registered in India
Overview
SINE, the business incubator at IIT Bombay, implements the SIDBI-iDEX Seed Fund Programme, which provides equity or equity-like seed funding to innovation-led MSMEs and startups that have won iDEX challenges. The programme aims to promote import substitution, boost domestic defence manufacturing and exports, and help early-stage defence startups scale up. Funding ranges from ₹10 lakh to ₹1.5 crore per startup, with SIDBI's shareholding generally not exceeding 10%. SINE brings its deep-tech and defence startup expertise to guide selected ventures towards growth, offering incubation support, mentorship, and fundraising assistance.
Highlights
- Equity funding up to ₹1.5 Cr per startup
- SIDBI's stake generally kept at 10% or less
- Open to iDEX challenge winners only
- Implemented by SINE, IIT Bombay's incubator
- Includes mentorship and incubation support
- Focus on defence & import substitution
Who can apply
The programme is open to Indian private limited companies that are iDEX challenge winners, DPIIT-recognised, and incorporated at least one year before applying. Both incubatee and non-incubatee MSMEs/startups can apply. There are no specific state or industry restrictions, but the focus is on defence and related sectors. Startups eligible for Angel Tax exemption are also welcome. Founders should meet applicable MSME criteria if relevant.
SIDBI-iDEX Seed Fund Programme at SINE, IIT Bombay is open to startups at any stage. It is open to startups registered anywhere in India.
- Eligible stage
- Any stage
- Location
- Open to startups registered in India
Deadline & timing
The most recent application window for SIDBI-iDEX Seed Fund Programme at SINE, IIT Bombay closed on 25 Jun 2026. Many programmes run repeat cohorts, so it is worth checking the official site for the next round.
What the funding covers
Selected startups receive equity or equity-like seed funding of ₹10 lakh to ₹1.5 crore. SIDBI's equity stake is typically kept at 10% or less. Beyond capital, the programme includes incubation support, mentorship, and fundraising assistance to help startups commercialise their innovations and scale operations.
About the provider
SIDBI-iDEX Seed Fund Programme at SINE, IIT Bombay is offered by SINE, IIT Bombay, an academic institution. It is delivered directly by SINE, IIT Bombay as a equity. You can verify current details and timelines on the provider's official website before applying.
Documents you’ll need
Before you apply to SIDBI-iDEX Seed Fund Programme at SINE, IIT Bombay, 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.
Who this is best for
SIDBI-iDEX Seed Fund Programme at SINE, IIT Bombay is best suited for startups in India seeking an equity investment of ₹10L – ₹1.5Cr. If that describes your startup, review the eligibility criteria above before applying.
Frequently asked questions
How much funding does SIDBI-iDEX Seed Fund provide?
The programme offers equity or equity-like seed funding ranging from ₹10 lakh to ₹1.5 crore per MSME or startup.
Who can apply for this programme?
iDEX challenge-winning MSMEs and startups, whether incubatee or non-incubatee, that are Indian private limited companies incorporated at least one year prior. DPIIT recognition is required.
What sectors are eligible?
While the focus is on defence and related sectors, the programme explicitly states 'defence and related sectors'. Startups in other areas may not be eligible.
Does the programme take equity?
Yes, the investment is made via equity or equity-like instruments. SIDBI's shareholding generally does not exceed 10% post-investment.
What expenses can the funding cover?
Exact use of funds is not specified, but typical seed funding covers product development, scaling, hiring, and market entry expenses.
Is there an application deadline?
Yes, the deadline is June 25, 2026.
How do I apply?
Applications are submitted online via the SINE website at https://sineedge.sineiitb.org/programs/apply/sid2261/sidbi-idex-seed-fund-programme-at-sine-june-2026.
Does my company need to be registered as an MSME?
The eligibility criteria mention 'MSMEs/startups', but explicit MSME registration is not listed as mandatory. However, being an MSME may be beneficial or required if deemed applicable by iDEX/SIDBI.
Does the programme charge any fee or take a percentage of revenue?
No fee or revenue share is mentioned. The programme provides equity funding, so SIDBI takes a minority equity stake and not a revenue share.
How are applications evaluated?
Details of the selection process are not provided in the source. Selection likely involves scrutiny of the startup's innovation, market potential, and alignment with defence import substitution.
Is DPIIT recognition required for SIDBI-iDEX Seed Fund Programme at SINE, IIT Bombay?
No. DPIIT (Startup India) recognition is not listed as a mandatory requirement for SIDBI-iDEX Seed Fund Programme at SINE, IIT Bombay, though having it can strengthen your application and unlock other benefits.
Who offers SIDBI-iDEX Seed Fund Programme at SINE, IIT Bombay?
SIDBI-iDEX Seed Fund Programme at SINE, IIT Bombay is offered by SINE, IIT Bombay, an academic institution. It is provided as an investment.
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