Panaji: The IT department approved the disbursal of grants under the Seed Capital Grant Scheme to 15 startups in the state on Monday. Each startup will receive Rs 10 lakh to scale their innovation in the field of artificial intelligence, health technology, media technology and other sectors.Aside from this, the department’s empowered committee also disbursed funds to four colleges for setting up incubation centres.Sawant, who chaired the meeting, presented Rs 10 lakh each to Goa College of Engineering, Quepem Govt College of Arts, Science & Commerce, Srinivassa Sinai Dempo College, and Parvatibai Chowgule College of Arts & Science. Govt is funding the creation of incubation centres as part of a state-wide effort to create space for early stage startups and strengthening the state’s IT ecosystem.“The Seed Capital Grant Scheme is designed to clear the initial financial hurdles so startups can focus on growing their businesses. Looking at the talent we reviewed today, it’s clear that Goa is quickly becoming a major hub for India’s next generation of startups,” said IT minister Rohan Khaunte.Khaunte said that startups such as Molbio Diagnostics and Spintly have demonstrated that Goa has the talent, the capabilities, and the ecosystem where founders feel backed to build and grow.“Through policies, incubation, mentorship and financial assistance, we’re ensuring our startups get the right support and funding at the right time,” the minister said.The Seed Capital Grant Scheme, a key initiative under the Goa Startup Policy 2025, provides a one-time financial assistance of up to Rs 10 lakh to startups that have developed a minimum viable product (MVP).The Startup and IT Promotion Cell (SITPC) had received 26 applications under the seed fund scheme, which were scrutinised by the expert committee. After a detailed evaluation, 15 startups were recommended to the empowered committee for disbursal of seed funding.These startups were assessed based on feasibility of the product, innovation, scalability, revenue model and long-term sustainability of the startup.
