YouthNet Incubation Centre (YIC) is now inviting applications from high-potential startups under the MeitY GENESIS Program, a flagship initiative of the Ministry of Electronics and Information Technology (MeitY) and MeitY Startup Hub (MSH). The program is designed to catalyze the growth of emerging ventures through strategic funding, mentorship, and deep industry linkages. By empowering startups to validate, scale, and commercialize breakthrough digital innovations, the initiative aims to fortify India’s deep-tech ecosystem and accelerate the nation’s journey toward a globally competitive digital economy.
Important Note:
Startups that have already received benefits under the MeitY TIDE 2.0 Scale-Up or MeitY SAMRIDH programs are not eligible to apply under this scheme.
MeitY GENESIS – Matching Investment Funding Scheme
This initiative supports startups from Tier-II and Tier-III cities with validated, scalable, technology-driven solutions. Through a 1:1 matching equity funding support of up to ₹50 lakhs, GENESIS empowers startups that have secured active private investor interest. The program enhances investment readiness through structured acceleration, mentoring, and investor engagement sessions, offering strategic guidance on fundraising, financial structuring, and market expansion.
Startup Eligibility Criteria:
1. Must be a registered Indian entity (Private Limited Company) with at least 51% Indian
ownership.
2. Must be registered in a Tier-II or Tier-III city.
3. Must have a valid DPIIT certificate.
4. Should work on a tech-based product/software in domains like Deep-tech, AI/ML, Cybersecurity, IoT, Blockchain, Fintech, Ed-tech, or Health-tech.
5. Must have a market-ready product and preferably be revenue-generating.
6. Preference is given to startups with granted patents.
7. Must not be involved in any legal disputes.
8. Funding is a 1:1 matching grant ranging from up to 50 lakhs based on external funds raised (government grants are not considered).
9. Cannot be a startup previously supported under the TIDE 2.0 (Scale up) or Samridh schemes.
10. The funding instrument is equity.
Frequently Asked Questions (FAQs)
MeitY GENESIS Matching Investment Scheme (MeitY Startup Hub)
The MeitY GENESIS Matching Investment Scheme is an initiative under the MeitY Startup Hub (MSH) designed to accelerate the growth of innovative startups with validated solutions and proof of concept. It enables startups to raise matching investments from venture capitalists or angel investors (SEBI registered) and provides them with acceleration support to scale and access markets.
The objective is to help startups connect with customers, investors, and global markets while scaling innovative solutions that address challenges in Tier-II and Tier-III cities.
1. Who can apply for support under the MeitY GENESIS Matching Investment Scheme?
Startups must be registered Indian entities (Private Limited Companies) with at least 51%
Indian ownership and a valid DPIIT certificate.
2. Is there any geographic restriction for eligibility?
Yes. The startup must be registered in a Tier-II or Tier-III city.
3. What kind of startups are eligible?
Only technology-based startups developing products or software in domains such as Deep-tech, AI/ML, Cybersecurity, IoT, Blockchain, Fintech, Ed-tech, or Health-tech are eligible.
4. At what stage should the startup be?
Startups should have a market-ready product and preferably be revenue-generating.
5. Are startups with patents preferred?
Yes. Preference is given to startups with granted or filed patents.
6. Can a startup involved in legal disputes apply?
No. Startups currently involved in any legal disputes are not eligible.
7. Can startups that have received government funding earlier apply?
Startups that have received support under the TIDE 2.0 (Scale-up) or SAMRIDH schemes are not eligible to apply under this component.
8. What type of funding support is offered?
The funding support is in the form of a 1:1 matching equity investment, with MeitY Startup Hub matching up to ₹50 lakhs against external private investments raised by the startup.
1. How can startups apply for the program?
Startups can apply through open calls for applications announced by the YouthNet Incubation Centre under the GENESIS Matching Investment Scheme.
2. What is the process followed after applying?
YouthNet Incubation Centre conducts a transparent selection process through a Startup Selection Committee.
3. Who is responsible for selecting startups?
The selection is done by the Startup Selection Committee constituted by the YouthNet Incubation Centre, which includes representatives from MSH, domain experts, and investors, and final selection is done by MSH.
4. What documents must be submitted during the application?
Startups must provide legal, financial, and business documents such as the certificate of incorporation, DPIIT certificate, audited financials, pitch deck, cap table, valuation report, and investor term sheets.
1. What are the main evaluation parameters?
Startups are evaluated on the following parameters:
• Innovation and uniqueness
• Competitive landscape
• Intellectual property rights
• Market size and potential
• Business model and revenue strategy
• Founding team strength
• Traction and milestones achieved
• Social impact and future plan clarity
• Previous funding and valuation etc.
2. Who are the evaluators?
The evaluation committee includes representatives from MSH, the Enabling Partner (YouthNet Incubation Centre), domain experts, legal/IP advisors, investors, and academic/industry representatives.
3. Will there be a pitch presentation?
Yes. Shortlisted startups are required to make a pitch presentation to the Evaluation Committee as part of the selection process.
1. What type of funding instrument is used?
Funding is provided through equity investment. The Enabling Partner (YouthNet Incubation Centre) holds shares on behalf of MSH.
2. What is the maximum funding support available?
MSH provides up to ₹50 lakhs as a matching equity investment against an equal private investment raised by the startup.
3. Are there any restrictions on matching funds?
Yes. The matching investment must not be sourced from any government funds, incubators under the SAMRIDH program, or family members of the founders.
4. What is the process before receiving MSH investment?
The startup must provide a verified term sheet, proof of private investment received, and complete legal documentation including the Shareholders’ Agreement (SHA), updated cap table, and board resolution for fund acceptance.
5. Who receives the funds?
Funds are directly transferred to the startup’s registered bank account after verification by the YouthNet Incubation Centre and approval from MSH.
1. What kind of acceleration support will startups receive?
The six-month acceleration program focuses on business design, GTM strategy, tech scalability, fundraising readiness, and investor connections. Startups receive structured mentoring and access to networks.
2. What are the key program milestones?
Milestones include design thinking, GTM planning, growth hacking, valuation readiness, investor connections, and participation in Demo Day events.
3. Are startups required to report progress?
Yes. Startups must submit monthly progress reports, milestone achievements, financial updates, and impact metrics through their Enabling Partner (YouthNet Incubation Centre).
4. What happens after the program?
Post-program, startups continue to receive support from the YouthNet Incubation Centre for up to 12 months to facilitate scaling and investment readiness.
5. How is compliance monitored?
The YouthNet Incubation Centre monitors progress, while MSH validates data on financials, milestones, and IP status through documentation and audits.
1. What documents are required for due diligence?
Startups must provide incorporation certificates, DPIIT recognition, IP certificates, ROC filings, audited financials, valuation reports, term sheets, SHAs, and due diligence reports as listed in Annexure IV.
2. What are the reporting requirements after fund disbursement?
Quarterly reports, utilization certificates (CA certified), updated cap tables, and audited statements must be submitted every six months.
3. What happens if a startup fails to meet compliance requirements?
Failure to comply with reporting or fund utilization norms may result in withdrawal of support, refund of funds, or disqualification from future programs.
4. How long must startups maintain program records?
Startups must retain all program-related records for 5–8 years for audit and verification purposes by MSH.
1. Who owns the equity shares held by the incubator?
The equity shares are held by the YouthNet Incubation Centre on behalf of MSH. The ownership vests with MeitY Startup Hub.
2. What are the monitoring requirements after investment?
Startups must submit quarterly progress reports, utilization certificates, and financial statements and update MSH on new fundraising, product launches, or key milestones.
3. Are startups allowed to raise further funds after receiving MSH support?
Yes. Startups are encouraged to raise additional private or venture funding to scale their operations.
4. What are the expected outcomes for supported startups?
Startups are expected to achieve measurable growth, attract further investments, generate employment, and contribute to local innovation ecosystems.