Applications are accepted for the Productisation Grant, a funding initiative administered by Kerala Startup Mission (KSUM). The scheme supports technology startups that have developed a Minimum Viable Prototype (MVP) and are ready to transform it into a market-ready final product. Financial assistance is intended to help eligible startups complete product development, testing, validation, and early market-entry activities.
Program Funding and Support
• Standard Grant: Eligible startups may receive financial assistance of up to ₹7 lakh.
• Women Productisation Grant: Startups in which women hold the majority share may qualify for funding of up to ₹12 lakh.
• Previous Idea Grant Recipients: Startups that have already received the KSUM Idea Grant may apply only for the remaining eligible amount, generally up to ₹4 lakh.
• Funding Purpose: The grant may be used to strengthen product development, undertake essential testing and validation, and prepare the product for early market entry.
• Disbursement Structure: Funding is released in milestone-based tranches. Generally, 50% is released as the first tranche, while the remaining amount is provided after a progress review and submission of the required utilisation documentation.
Eligibility Requirements
• Development Stage: The startup must be at the product development stage and should have a Minimum Viable Prototype that can be developed into a market-ready product.
• Company Registration: Applicants must be incorporated as a Private Limited Company, Limited Liability Partnership, or One Person Company with active Ministry of Corporate Affairs status.
• Technology Requirement: The startup must own an innovative technology-based product.
• KSUM Registration: A valid KSUM Unique ID is mandatory when submitting the application.
• Previous Funding: Startups that have previously received an Idea Grant may claim only the remaining amount available under the Productisation Grant.
• Margin Contribution: Selected startups must contribute margin money equivalent to 20% of the approved grant amount. This requirement generally applies during the release of the second tranche.
Evaluation and Selection Process
• Application: Startups must submit their applications through the Kerala Startup Mission grant portal during an official call for applications.
• Initial Screening: Applications are reviewed by KSUM officials to verify eligibility, documentation, and alignment with the objectives of the scheme.
• Shortlisting: Startups selected during the initial screening stage are notified by email.
• Pitch Presentation: Shortlisted applicants must present their product, business opportunity, and proposed fund-utilisation plan before an expert committee.
• Evaluation Criteria: Applications are assessed based on the strength of the team, product innovation, market potential, financial position, and proposed use of the grant.
• Final Approval: Recommendations made by the expert committee are submitted to the Chief Executive Officer or Chairman of Kerala Startup Mission for approval.
Documentation and Fund Release
Selected startups may be required to submit incorporation documents, PAN details, bank information, a valid KSUM Unique ID, revenue or investment evidence, financial statements for the previous two years, and certificates issued by a chartered accountant. These may include a No Dues Certificate and a Margin Money Certificate containing a valid Unique Document Identification Number.
Approved startups must enter into a formal agreement with Kerala Startup Mission before receiving the funds. An interim progress report and utilisation certificate must be submitted before the second tranche can be released.
Eligible and Restricted Expenses
The grant is intended specifically for activities connected to product development, testing, validation, and commercial readiness. Expenses such as founder salaries, rent, land or building purchases, major infrastructure development, and certain high-value equipment or software purchases are not permitted under the scheme.
Application Timeline
Applications must be submitted online during an official call announced by Kerala Startup Mission. A fixed application deadline is not currently specified on the program webpage, and applicants should consult the official portal for the latest application window and submission requirements.
For comprehensive information regarding eligibility, required documentation, funding conditions, and the application process, prospective applicants should visit the official Kerala Startup Mission Productisation Grant webpage.