IGNITE Edition 2 – SINE x IDFC FIRST Bank

IGNITE Edition 2 is a six-month growth-stage accelerator operated by the Society for Innovation and Entrepreneurship at IIT Bombay in partnership with IDFC FIRST Bank under its CSR programme. It supports technology-driven startups addressing environmental and sustainability challenges through catalytic grant funding, incubation and commercialization assistance.

• Applicants must satisfy all published eligibility conditions:
• The entity must be registered in India as a Private Limited company.
• The startup must be registered with DPIIT.
• The technology or product must be at Technology Readiness Level 6 or above.
• The product must have a clear roadmap towards commercialization and scale-up.
• The solution must align with the program’s specified environment-technology focus areas.
• The solution must create measurable social or environmental value aligned with ESG goals.
• The startup must disclose any CSR funding received for the same milestones or deliverables during the proposed project period.
• Having at least one founder working full-time in the startup is preferred but is not stated as mandatory.
• Commercial traction is not mandatory, although customer validation, pilots, partnerships, industry interest or revenue may strengthen the application.

• Grant funding of up to INR 25 lakhs, subject to approved milestones, eligible expenses and documentation requirements.
• Six-month program tenure.
• Grant funds may be used for minor product improvements, in-house testing and trials, regulatory or compliance activities, field trials, pilots and product deployment, with particular emphasis on field testing, pilots and deployment.
• Incubation support from SINE IIT Bombay under applicable policies and guidelines.
• Mentoring and technology or product-development assistance.
• Access to IIT Bombay expertise.
• Industry connections, commercialization support, visibility and investor networking.
• The funding is a grant and not a loan.
• Disbursement may be milestone-based and linked to the approved project plan, budget, reporting requirements and achievement of agreed milestones.

• Applications are evaluated by the program’s selection committee. Shortlisted applicants will be contacted individually regarding subsequent steps, and the committee’s decision will be final. Detailed scoring criteria and interview stages are not specified.