MSVF
Manipur Startup Venture Fund (MSVF)
About
The Government of Manipur (GOM) in collaboration with North Eastern Development Finance Corporation Ltd (NEDFi) has created “Manipur Startup Venture Fund (MSVF)”, which isregistered under the Securities and Exchange Board of India (SEBI) as an Alternative Investment Fund (AIF). “Manipur Startup Venture Fund (MSVF)” is a dedicated venture capital fund of Manipur for promotion and development of startup eco-system in the state.
NEDFi through its wholly owned subsidiary NEDFi Venture Capital Limited (NVCL) will manage MSVF for providing investment support to start-ups, early stage and growth stage companies through equity, OCDs, convertible notes, other instruments, etc. This will play a critical role in the development of the startup ecosystem in Manipur. NVCL is the first Investment Management Company from the Northeast India and has varied experience in managing venture funds and providing hand holding & mentoring support to startups.
Objectives
To facilitate and nurture innovative and scalable ventures based in the State of Manipur through Equity or Equity linked investments thereby providing access to high-risk capital to the entrepreneurs of Manipur.
To establish a close linkage and functional coordination between NEDFi and Govt of Manipur for furthering the cause of entrepreneurship and startup ventures in the State of Manipur.
To jointly organize hands-on training on technical/financial areas as well as skill development, fund raising, business management, financial management for startups, etc.
To facilitate fund raising for entrepreneurs through Angel/Venture and other similar funds and in this connection to organize and conduct business events/meets to enable entrepreneurs to pitch to investors and other stakeholders for fund.
Fund Detail
| Particulars | Details |
|---|---|
| Name of the fund | Manipur Startup Venture Fund (MSVF) |
| Corpus | Rs. 30 crores |
| Green Shoe | Rs. 10 crores |
| Sponsor | Government of Manipur |
| Lead Investor | North Eastern Development Finance Corporation Limited (NEDFi) |
| Nodal Agency | Department of Planning, Govt of Manipur |
| Eligibility | Govt of Manipur and DPIIT recognized startup and registered as a Private Limited Company |
|
Nature of the financial instrument |
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| Investment Manager | NEDFi Venture Capital Limited (NVCL), a wholly owned subsidiary of NEDFi |
| Investment Size |
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Entry Criteria
Eligibility for Idea Stage
- Should be a domicile of Manipur.
- Should have an innovative and scaleable business idea.
- Should be older than 18 Years.
- Has not received more than Rs. 10 lakh of monetary support from Central Schemes or State Schemes. (Declaration Needed)
Benefits
- Incubation and Mentorship program upto three months.
- A sum of Rs. 3.00 lakhs is provided as grant in two instalment of Rs.1.5 Lakh each by State Government.
The fields that are Required for applying are given below:
Registration Requirements
- AADHAAR number and AADHAAR linked mobile for OTP verification
- Working Mobile Phone for communication with SMS facility.
- Working Email Id address.
- Both the mobile phone number and email id will be verified using OTP.
Documents required to be uploaded for Idea stage
- Copy of PAN card.
- Copy of Business Registration (if available).
Compulsory fields for Primary contact details
- Name
- Address
- District
- Constituency
- PIN Code
- Date of Birth
- Gender
- Category (General, Woman, Student)
- Working Full Time or Not?
- PAN Number and Copy of PAN Card
Compulsory fields for Business details
- Business Name
- Business Address
- What is the Product or Service?
- Direct Customers (B2B, B2C, B2G)
- Target Customers
- List Direct Competitors
- Registration Number (If it is already registered)
- Registration Date (If it is already registered) Validation: The Registration date should not older than 2 years
- Copy of Registration Number (If it is already registered)
Industry Type
- Accommodation & Food Services
- Accounts
- Administrative & Support
- Agriculture and Allied Activities
- Arts, Entertainment and Recreation
- Automotive
- Basic Materials
- Construction
- Education Services
- Energy
- Finance & Insurance
- Food & Beverages
- Healthcare and Social Assistance
- Industrial
- IT
- Management of Companies and Enterprises
- Military
- Personal household products and services
- Professional, scientific and Technical Services
- Public Administration
- Real State Rental and leasing
- Retailers
- Technology
- Telecom
- Transport and Warehousing
- Travel and Tourism
- Utilities
- Waste Management and Remediation Services
- Wholesale
- Others
- What problem are you trying to solve?
- Have you received any Innovation reward?
Compulsory fields for Business Proposal
- Proposed business Idea or Product or Services
- How is your solution different from others?
- Type of Technology used(Self Developed, Acquired)
- How does the business Generate Revenue?
