Marketing/Commercialization Assistance: Under the provisions of Rajasthan Startup Policy 2015, the iStart Rajasthan program assists the eligible startups at Minimum Viable Product (‘MVP’) stage with a Marketing/Commercialization Assistance of up to INR 10 lakhs, post approval by the Committee and Nodal Institution. The assistance is provided after case to case review by the evaluation committee in the form of loan / convertible equity. The assistance can either be given to a startup where he/she has secured funding of minimum 25% from a known and registered angel / venture funds / reputed incubator. The amount could be disbursed as purely / partly grants or soft loan / equity on a case-to-case basis as has been given by registered angel / venture funds / reputed incubator. Or, it can be given as matching assistance to reputed incubators established by institutions like IIMs / IITs / NITs to fund startups as a part of accelerator programme as purely / partly grants or soft loan / equity on a case-to-case basis.
Application Procedure: The Marketing/Commercialization Assistance is applicable for eligible startups at MVP stage only. The eligible startup can apply for the assistance at www.istart.rajasthan.gov.in and subject to completion and correction of the application, the startup would be invited to present its idea/ project before the evaluation committee. Subject to evaluation committee’s approval, the nodal institute will approve / reject and disburse the funds in stipulated time.