Gujarat Launches ₹10-Crore Fund for Tech Start-ups

Gujarat introduces a ₹10-crore Growth Fund offering grants up to ₹30 lakh and convertible funding up to ₹2 crore to technology start-ups, with applications open until November 24.

The Gujarat government has launched a ₹10-crore Growth Fund to support technology-based start-ups, offering grants of up to ₹30 lakh to early-stage ventures and equity-linked convertible funding of up to ₹2 crore to more advanced businesses. The initiative aims to help innovators move from research and technology validation to pilot production and commercialisation.

Science and Technology Minister Arjun Modhwadia launched the fund at the Gujarat Innovation and Technopreneurship (GInTech) Conclave 2026, organised by the Savli Technology and Business Incubator (STBI) in Gandhinagar. The funding structure is based on the Technology Readiness Level (TRL) of each start-up, allowing assistance to be aligned with the maturity of its innovation.

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Under the scheme, start-ups at TRL 4 or below can receive grants of up to ₹30 lakh. The assistance is intended to support proof-of-concept development, technology validation, trials and related activities. Ventures at TRL 5 and above are eligible for equity-linked convertible funding of up to ₹2 crore per start-up. This support is designed to finance pilot manufacturing, technology demonstrations, business pivots and market-oriented development.

The scheme is intended to address funding gaps faced by science- and technology-driven enterprises, particularly during the transition from laboratory research to commercial products. According to the state government, the fund will strengthen the innovation pipeline and help technology ventures progress towards market readiness.

Speaking at the event, Modhwadia said India had approximately 2.6 lakh registered start-ups, with Gujarat accounting for an estimated 18,000 to 20,000 active ventures. He highlighted the state's efforts to help young entrepreneurs convert ideas into businesses and generate employment. He also encouraged start-ups and other stakeholders to make greater use of government policies, scientific infrastructure and technology platforms.

Alongside the fund, the conclave announced eight regional Innovation Cells of STBI across six zones of Gujarat to extend start-up support beyond major urban centres. Other initiatives included a cohort-based acceleration platform, the Atmanirbhar Gujarat Fellows programme and measures to promote shadow internships. STBI also signed memorandums of understanding with nationally recognised accelerator agencies to strengthen its incubation and acceleration network.

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The official G₹OWTH Fund guidelines specify eligibility conditions for both funding categories. For grant-in-aid, applicants must be incorporated in Gujarat as a private limited company or limited liability partnership, be no more than 10 years old and have at least 51% ownership and control with Indian promoters.

Additional limits apply to grants received and cumulative revenue over the previous three years. For seed investment, applicants must be private limited companies with at least 51% Indian promoter ownership. Start-ups incorporated outside Gujarat may also qualify if they have manufacturing, processing or research and development operations in the state.