GENESIS Scheme
With an aim to boost the startup ecosystem in Tier-II & Tier-III cities in India, the Ministry of Electronics and Information Technology (MeitY) approved the implementation of the GENESIS Scheme with a budgetary outlay of ₹490 Crore for a duration of 5 years. The scheme focuses on discovering, nurturing, and scaling innovative technology startups across the country.
Empowering Innovation in Tier-II & Tier-III Cities
The GENESIS Scheme envisions strengthening India’s startup ecosystem by supporting innovative startups and incubators in Tier-II and Tier-III cities. The initiative aims to create sustainable entrepreneurial growth by providing funding support, capacity building, and investment opportunities for early-stage and deep-tech startups. The scheme also promotes efficient utilization of startup assets and incubation resources under MeitY.
Objectives of GENESIS
Consolidation of startup related schemes and assets of MeitY for greater efficiency, better asset utilization, and enhanced support for startups.
Provide Tier-II and Tier-III city focused funding support for pilot implementation, investment support, early-stage startups, and deep-tech innovation ventures.
Strengthening incubators and building a stronger startup ecosystem through capacity building initiatives in Tier-II and Tier-III cities.
Key Support Components
Entrepreneur in Residence
Support to students and entrepreneurs for validating startup ideas and creating entrepreneurial momentum in Tier-II and Tier-III cities.
Pilot Funding Support
Funding support to startups that have validated their ideas and require assistance to pilot and test their products in the market.
Investment Support
Financial support to startups raising funds from the market, helping bring domestic rupee capital into Tier-II and Tier-III cities across India.