Matching Grant Scheme

The document mentions that only expenditures incurred after the notification of the Goa Start-up Policy 2017 are considered for reimbursement under this scheme. However, if there are exceptional cases or circumstances, it is up to the discretion of the Start-up Promotion Cell (SPC) to admit such expenditures, subject to its due diligence.

The Start-up Promotion Cell (SPC) plays a crucial role in the implementation of the Matching Grant Scheme. It conducts due diligence, selects eligible start-ups, evaluates applications, and makes decisions on the approval or rejection of applications. The SPC is the competent authority for this scheme, and its decisions are final and binding.

The primary vision behind the Goa Start-up Policy 2017 is to position Goa as one of the most preferred start-up destinations in India. It aims to achieve this vision by attracting entrepreneurial talent and building a robust start-up ecosystem in the state, ultimately making Goa an aspirational hub for start-ups.

The SPC aims to evaluate applications and provide notification of approval or rejection within 45 days from the receipt of the application. Once approved, the disbursed amount should reach the applicant within 60 days from the date of approval.

Applicants can apply for this scheme at any time during the financial year.

Only expenditures incurred after the notification of Goa Start-up Policy 2017, within the policy's validity period, and paid digitally will be considered for reimbursement under this scheme. However, if digital payments are not feasible, the decision to admit such expenditure is at the discretion of the SPC, subject to its due diligence.

To be eligible for this scheme, start-ups must be certified by the Start-up Promotion Cell (SPC) and possess a valid start-up certificate number. Additionally, the product for which benefits are sought should not have been introduced to the market previously, and the application must be submitted at least 1-3 months before the product launch.

No, there is no guarantee of benefits under this scheme. The Start-up Promotion Cell (SPC) retains the sole authority to accept or reject applications, even if start-ups meet the eligibility criteria.

Up to 20 start-ups can benefit from this scheme annually, and the selection process is carried out by the SPC. The SPC selects eligible start-ups based on its due diligence and in accordance with its guidelines.

Certainly, under the Matching Grant Scheme, start-ups that secure funds from a registered/recognized funding source before the product launch phase are eligible for benefits. They can receive 25% of matching funds, up to a maximum benefit of INR 25 lakh. The actual benefit amount is determined based on the proportionate ownership of stock after due diligence by the Start-up Promotion Cell (SPC).

The scheme discussed here is called the "Matching Grant Scheme," and it is already in effect.

Proportionate ownership of stock means that the benefits a start-up receives are proportional to the ownership stake held by investors or funding sources.