Startup Support(Scaleup Assistance)
- Scale Up Funding
- The objective of the scheme is to support innovative home-grown start-ups to scale up their operations from Kerala.
- The Start-up shall be a Private Limited company with valid registration of KSUM/DPIIT and shall have completed product development and started commercial operations /generating revenues or utilized the assistance received in the seed stage effectively and has also commenced repaying/closed the assistance sought or has received major recognition from renowned institutions/agencies /received external investor funding support etc.
- The financial assistance will be by way of loan/equity assistance up to Rs. 100.00 lakhs per venture subject to a maximum of 70 % of the Project cost.
- The loan tenure is 4 years, including a one-year moratorium from the date of the first disbursement.
- The Scale-Up Support up to Rs.50.00 lakhs will be sanctioned as collateral free loan backed by Personal guarantee and Primary Security.
- Scale-up support loans ranging from Rs. 50.00 lakhs to Rs. 100.00 lakhs, is given against collateral security equal to minimum 50% of the loan amount, Personal guarantee and Primary Security.
- Minimum 30 % of project cost should be brought in and spent upfront by Promoter for availing first tranche disbursement.
- The current applicable interest rate is 7.00%.
