HEC Innovation SEED Fund ISF 2024 US 35000 Dollars Funding Apply Online Eligibility

The Higher Education Commission (HEC) invites startups for HEC Innovation SEED Fund ISF 2024 that are innovative and owned by alums, students or faculty members, or researchers (from Public & Private Sector Universities and Degree awarding institutions) to submit applications to the HEC Innovation SEED Fund ISF 2024 Grant. The grant package provides up to $35,000 in seed capital, spread over the proposed budgetary needs for activities that include but not only entrepreneurial training as well as legal/financial/marketing support and training in addition to other services. Here you will find all details such as eligibility, application procedure, contact details, and funding details, etc. The deadline for submitting applications will be January 6, 2024, by 11:59 pm. For further details and requirements for application submission, visit HEC’s website. HEC website.

ISF is envisioned to support the creation of startups and innovation ecosystems in Pakistan. This major project is part of HEC as part of the Higher Education Development in Pakistan Project (HEDP). ISF is expected to aid in the growth of startups with innovative ideas by supplying seed financing grants to help them transform into sustainable and profitable businesses. The grant package can provide up to 35,000 USD in seed capital, spread over the proposed budgetary needs for activities that include but are not limited to entrepreneurial education marketing and legal/financial training, and support, as well as various other services.

HEC Innovation SEED Fund ISF 2024 US 35000 Dollars Funding Apply Online Eligibility

Eligibility Criteria to Apply

The principal applicant must:

• Either you could be a student, recent alumnus, or faculty member/researcher of or affiliated with Higher Education Institutions (public and private).
• Get approval from one of the HECs set up Business Incubation Centers (BICs).
• There was no commercial source of financing before submitting for an ISF grant.
• The winners must sign a three-partite agreement with the Startup, the BIC, and the HEC.
• Application for the ISF program will be submitted through the Business Incubation Centers established by the HEC in the various public sector HEIs in Pakistan. This complete directory of HEC showed 35 business Incubation Centers in the Downloads section.
• The ISF grant will target early-stage startups that can benefit greatly from a budget of $35,000 and entrepreneurial education.

Key Areas for HEC Innovation SEED Fund ISF 2024

The most important sectors to receive ISF assistance include, but aren’t limited to:

• Agriculture, Food Resources and Agri Tech
• Banking, Microfinance, and FinTech
• Creative, Digital Media, Arts and Culture
• Education and EdTech
• E-commerce and Smart Retail
• Emerging Technologies
• Health Care and Health Tech
• Housing, Construction and Manufacturing
• Sustainable Development, Climate and Energy
• Transportation and Logistics
• Other industries that are ripe for growth and have potential have the potential to impact

How to Apply for HEC Innovation SEED Fund ISF 2024

• Applications may be made in response to a solicitation for notes on concepts.
• Submissions must be made to the HEC online portal (https://rfi.hec.gov.pk/) following the guidelines in the call for proposals document under the “Downloads” section. Once all the information required is submitted online, submit all necessary files on a .pdf application form. Submit your application by the date of submission.
• The portal will be available on December 4, 2024, and will accept Concept Notes till January 6, 2024, at 11:59 pm.
• Applications must be approved through Business Incubation Center by the specified deadline to be eligible for future competitive processes.

HEC Innovation SEED Fund ISF 2024 Funding Details

Budgets for ISF awards can be as high as $35,000 and a project lasting one year (depending on the project’s modalities and the execution plan).

Contact Details

For more information and details, applicants are advised to go to The HEC’s ISF section on their website. If they have any questions, applicants may contact [email protected].

FAQs

What is an innovator Seed Fund?

Innovator Seed Fund (ISF) is a program under HEDP which aims to engage entrepreneurs and aspirants in the future who are looking to translate their business concepts into action. ISF will offer a bundle of assistance and seed funds for startups in the early stages by establishing HEC-recognized business Incubation Centers (BICs) at universities.

What is a good amount of seed funding?

The typical amount of funds received in the seed round of funding is $2.2 million. However, it could be as little as $100,000 or up to $5 million. The amount to raise is entirely up to the founder.

Where do I apply for the ISF Program?

You can register on the ISF Portal http://ric.hec.gov.pk.

How much funding is anticipated through ISF Program?

ISF The ISF’s funding for innovative ideas and startups in the early stages is up to $35,000 equivalent and can be the amount in rupees.

Who can apply for the ISF Program?

The ISF Program is looking to sign up three types of participants.

Startups: You have to belong to the Securities and Exchange Commission of Pakistan (SECP) or an equivalent registrar, registered Startup, and not have received any previously from a commercial source of financing.

Mentors: You’ll be an experienced/seasoned entrepreneur or business executive.

Business Development Service Provider (BDSP): The ideal candidate will be a professional with experience or a business company operating in the areas of) Management of Sales and Marketing II) HR & General Management Support II) Technical Support) Marketing Research v) Transaction & Capital Advisory vi) Company Registration, Tax, and Audit vii) Other.