About MeitY GENESIS Matching Investment Program
The Ministry of Electronics and Information Technology (MeitY) launched the GENESIS (Gen-Next Support for Innovative Startups) scheme to support startups working in cutting-edge technologies and digital innovation. This initiative aims to nurture and empower entrepreneurs from Tier II & Tier III cities to transform their innovative ideas into successful ventures, contributing to the Indian economy and technological progress.
The Matching Investment Program aims to accelerate the growth of Tier II & Tier III city startups with validated solutions and a proof of concept. The goal is to help them raise investments from venture capitalists and angel investors and scale up by connecting them with customers, investors, and global markets.
Key Features
- Financial Assistance: Equity based funding support upto INR 50 Lakhs for acceleration/scaling as a matching investment.
- Mentorship: Access to industry leaders and experts for guidance and technical assistance.
- Infrastructure Support: State-of-the-art facilities, including co-working spaces, labs, and testing centres.
- Networking Opportunities: Platforms to connect with investors, corporates, and government bodies.
- Training Programs: Workshops, bootcamps, and courses for skill enhancement.
Startup Eligibility Criteria
To be eligible for the program, a startup must meet the following criteria:
- Must be a registered Indian entity (Private Limited Company) with at least 51% Indian ownership.
- Must be registered in a Tier-II or Tier-III city.
- Must have a valid DPIIT certificate.
- Should work on a tech-based product/software in domains like Deep-tech, AI/ML, Cybersecurity, IoT, Blockchain, Fintech, Ed-tech, or Health-tech.
- Should not have received funding support under MEITY TIDE 2.0 Scaleup Investment or MEITY SAMRIDH Scheme
- Should have a funding commitment from an angel investor/VC (government grants are not considered).
- Must have a market-ready product and preferably be revenue-generating.
- Preference is given to startups with granted patents.
- Must not be involved in any legal disputes.
Why Choose Chitkara Innovation Incubator Foundation?
As an approved partner for the MeitY GENESIS scheme, Chitkara Innovation Incubator Foundation provides an ecosystem that fosters innovation and growth. With a track record of successful incubations, we offer unparalleled support in mentorship, funding, and networking.