Mizoram Startup Ignition Fund

1. Mizoram Startup Ignition Fund

The Mizoram Startup Ignition Fund is established to support DPIIT-recognized startups in the early and growth stages of their journey. The fund incorporates a mix of financial instruments, including equity, convertible debentures, and non-convertible debentures, with terms tailored based on the valuation of the business. This initiative is designed to accelerate and provide financial backing to scalable and viable technology-driven and innovative startups, addressing financial bottlenecks that hinder their progress. The fund aims to empower startups to achieve their business objectives, meet industry standards, and compete effectively, particularly in high-growth sectors of the economy. It will be used as Accelerator Fund that will be for a period of 6 to 9 months. 

Eligibility

a) Startups (DPIIT recognised) at the early traction stage of development. 

b) Must be registered and operational in Mizoram. 

c) Should demonstrate high growth potential in sectors such as IT, agriculture, renewable energy, etc. 

Funding

a) There shall be an upper limit of Rs.25 lakhs per startup for funding. 

b) Terms of funding will be agreed upon before disbursement. 

c) Continuous oversight and assistance will be provided to ensure business goals are met.

d) The funding amount will be determined by the MSUM Executive Committee.