About this business scheme
The "Scheme for Assistance for Start Ups/ Innovation" under the Gujarat Industrial Policy, aims to drive economic growth by generating jobs, fostering competition, and introducing next-gen solutions.
The "Scheme for Assistance for Start Ups/ Innovation" is an umbrella scheme launched by the Industries and Mines Department, Gujarat under the Gujarat Industrial Policy. Effective from August 7th, 2020 to August 6th, 2025, it aims to drive economic growth by generating jobs, fostering competition, and introducing next-gen solutions.
The component "Interest Subsidy" provides financial support to startups with innovative ideas across various sectors. Startups approved under this scheme are eligible for an additional interest subsidy of 1%, up to a maximum of 9%, on term loans for MSME assistance.
Benefits at a glance
| Scheme name | Scheme for assistance for Start Ups/ Innovation: Interest Subsidy (SFASIIS) |
|---|---|
| Launched by | Industries and Mines Department |
| Launch year | 2020 |
| Benefit type | Cash (money paid to your bank account) |
| Category | Business |
| Level / State | State · Gujarat |
| Official portal | startup.gujarat.gov.in (link at the end of this page) |
Key facts
| Scheme for | Infra |
|---|---|
| Application mode | Online |
| Last date | Ongoing (no last date notified) |
| DBT (direct bank transfer) | No |
| Age | 18 to 60 years |
Who can apply (quick check)
- 👤All genders
- 🎂Age 18 to 60 years
- 📝Online
Quick check from official data. Full conditions are in the Eligibility section.
What you receive
- Financial Support: Interest subsidy of 1%, maximum up to 9% on term loans under the provisions of scheme for assistance to MSMEs.
Who qualifies
- Any individual or group of individuals with an innovative idea or concept, recommended by an approved Nodal Institution, is eligible.
- The scheme is open to startups in any sector or branch of science, technology, engineering, agriculture, healthcare, etc., making it sector-agnostic.
Note: Startups availing benefits under the Student Startup and Innovation Policy (SSIP) are also eligible.
Who is not eligible
- Entities formed by splitting or restructuring an existing business are not considered startups under this scheme.
- Startups availing benefits under other startup schemes of the Government of Gujarat are ineligible.
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Registration walkthrough
Online
Registration Process:
Step 1: Visit the online portal and click on the "Register" button, located at the top right corner.
Step 2: Enter Email ID and click on Next button. Verify the details and click on "Submit" to get registered on portal.
Step 3: Upon login, fill in the details on Common Application Form. Click on "Sign Up".
Application Process:
Step 1: Visit the online portal and click on Login button. Enter Registered Email ID and Password and click on the "Sign In" button
Step 2: In "Dashboard" section fill in all the required details.
Step 3: Click on Apply Now Icon located at Dashboard of User.
Step 4: From the list Select the Scheme and Fill the Application details.
Contact Us:
Startup Gujarat Cell
Office of Industries Commissionerate
Block No: 1, 3rd Floor, Udhyog Bhavan, Sector: 11, Gandhinagar - 382010 Gujarat, INDIA.
079-23252588 / 1800-233-0616
icstup@gujarat.gov.in
Important dates
| Launch / start | 07 Aug 2020 |
|---|
Terms used in this scheme
- Startups (For The Purpose Of This Scheme)
- Any individual/group of individuals having innovative idea/concept after legal registration as LLP, Partnership or Private Limited Company. However, an entity shall cease to be a Startup on completion of ten years from the date of its incorporation/ registration or if its turnover for any previous year exceeds one hundred crore rupees.
- “limited liability partnership” shall have the meaning as assigned to it in clause (n) of subsection (1) of Section 2 of the Limited Liability Partnership Act, 2008;
- “partnership firm” means a firm registered under section 59 of the Partnership Act, 1932;
- “private limited company” shall have the meaning as assigned to it in clause (66) Section 2 of the Companies Act, 2013;
- ‘turnover” shall have the meaning as assigned to it in clause (91) Section 2 of the Companies Act, 2013
- “Entity” is working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.
- Innovative Project
An innovative project is a project that seeks to introduce new technology or make changes in the existing technology by implementing large and small, radical and incremental changes, resulting into the formulation of novel products, processes or services.
- Mentor
An individual/ resource person/expert who provides mentoring support to Startups through Nodal Institutes, possess domain/subject expertise and knowledge of Startup ecosystem of the state.
- Nodal Institution
Nodal Institution means an Institution which is approved /sanctioned by SLEC and intend to nurture and develop startups through resources, mentorship, networking and other common services such as infrastructure, equipment and facilities available in the institution.
Frequently asked questions
What is the objective of the "Scheme for Assistance for Start Ups/ Innovation"?
The "Scheme for Assistance for Start Ups/ Innovation" is an umbrella scheme launched by the Industries and Mines Department, Gujarat under the Gujarat Industrial Policy. Effective from August 7th, 2020 to August 6th, 2025, aims to drive economic growth by generating jobs, fostering competition, and introducing next-gen solutions.
What is the objective of the "Interest Subsidy" component?
The component "Interest Subsidy" provides financial support to startups with innovative ideas across various sectors. Startups approved under this scheme are eligible for an additional interest subsidy of 1%, up to a maximum of 9%, on term loans for MSME assistance.
What is the maximum interest subsidy available under the scheme?
The maximum interest subsidy available under the scheme is 9% on term loans.
Who is eligible to apply for the scheme?
Any individual or group of individuals with an innovative idea or concept that is recommended by an approved Nodal Institution is eligible to apply for the scheme.
Are startups in all sectors eligible for the scheme?
Yes, the scheme is sector-agnostic and supports innovative projects across all sectors, including science, technology, agriculture, engineering, and healthcare.
Can startups availing benefits under the Student Startup and Innovation Policy (SSIP) apply for this scheme?
Yes, startups benefiting under SSIP are also eligible to avail assistance under this scheme.
Can startups formed by splitting or reconstructing an existing business apply?
No, startups formed by splitting or reconstructing an existing business are not eligible for the scheme.
Are startups already availing incentives under other Gujarat startup schemes eligible?
No, startups availing incentives under other Gujarat Government startup schemes, except SSIP, are not eligible for this scheme.
What is the role of the Nodal Institution in this scheme?
The Nodal Institution evaluates, validates, and recommends startup project proposals to the Office of the Industries Commissioner for approval.
Are there any restrictions on the type of innovation supported by the scheme?
No, the scheme supports all kinds of innovation, regardless of the sector, making it inclusive and sector-agnostic.
Submit your application yourself on the official portal; it costs nothing. Treat anyone demanding money to "get you approved" as a scam.
- Guidelines ic.gujarat.gov.in (PDF)
- User Manual startup.gujarat.gov.in (PDF)
tsmpb.in is not affiliated with any government department. Apply only on the official portal and never pay anyone for an application.
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