Where we work · India
Strategy advisory for Indian founders and programmes, from Hyderabad.
India is our base. We are a DPIIT-recognised startup ourselves, so we work inside the same system our clients do. We advise seed-stage founders in deep tech, SaaS and consumer, and incubators and state programmes, across the country.
The ground shifted in 2026.
2.23 lakh+
DPIIT-recognised startups at 31 Mar 2026; a record 55,200+ recognised in FY26 alone PIB, 17 Apr 2026
12,520+
Recognised startups in Telangana, seventh among states PIB, 17 Apr 2026
20 years, ₹300 crore
How long a "Deep Tech Startup" now stays recognised, and its turnover cap. For other startups the cap rose to ₹200 crore. G.S.R. 108(E), Feb 2026
₹10,000 crore
Fund of Funds 2.0, invested through SEBI-registered funds, with deep tech and smaller funds as priorities PIB, 13 Apr 2026
₹2,000 crore
Sanctioned by July 2026 from the ₹1 lakh crore RDI scheme, as loans and equity only, with no grants PIB, 29 Jul 2026
₹19,190 crore
Government (GeM) orders to startups in FY26, across 1.4 lakh+ orders PIB, 17 Apr 2026
The headline money is real, but it arrives through specific channels: funds, loans, procurement. A founder's plan has to match the channel. Seed rounds have also grown more selective through 2025–26 (Tracxn and Inc42 figures disagree on the size of the change, so we quote neither).
Four mistakes we see often.
| Sector | The mistake | What we work on instead |
|---|---|---|
| Deep tech | Treating a GeM registration or an iDEX challenge win as demand. Over 38,600 startups are on GeM, but orders concentrate. Turnover and experience exemptions apply only when a specific tender includes them. Early iDEX winners turned into just 13 procurement contracts. iDEX ADITI scheme | A buyer map for each government or PSU target, the tender path, and a commercial plan that does not depend on one challenge. |
| Deep tech | Building the plan around a grant. RDI money comes as loans and equity, and ADITI expects the startup to fund at least half the development budget itself. | A capital plan that stacks grants, loans and equity in the right order, with the matching money identified first. |
| SaaS | Selling to a first overseas customer and sorting out export paperwork afterwards. Services exports go out without IGST only if a Letter of Undertaking is filed before the supply. | Pricing, currency and contract terms designed for the overseas buyer, prepared with your CA before the first invoice. |
| Consumer | Celebrating quick-commerce share while the contribution margin disappears into commissions, ad spend and fill-rate demands. | A margin floor for each channel, and the channel mix that protects it. |
The clocks and conditions that catch founders out.
These are areas we help founders prepare for, alongside their CA and lawyer. We do not give tax or legal advice.
- Foreign money has a 60-day clock. Shares must be issued within 60 days of receiving it, or the money goes back. RBI Master Direction on Foreign Investment
- Private placement has its own 60-day rule. Allot within 60 days or refund. Companies Act, s.42
- DPIIT recognition is not the tax holiday. The startup tax exemption needs a separate certificate from the Inter-Ministerial Board, and incorporation before 1 April 2030. Startup India
- The rulebook changed on 1 April 2026. The Income-tax Act, 2025 replaced the 1961 Act, so older guides cite section numbers that no longer exist. PIB
- Angel tax is gone, but not for old years. Section 56(2)(viib) stopped applying from assessment year 2025–26. Earlier years can still be examined. Finance Bill 2024 memorandum
Built around what Indian incubators already report.
If you run a Seed Fund incubator, a NIDHI TBI or a state programme, your year is shaped by tranches, milestones and dashboards. A Pilot Cohort is designed to produce the evidence those reports ask for.
The constraints we design around
| What you live with | Why it matters to a pilot |
|---|---|
| Seed Fund tranches. Up to 40% of the grant first. The next tranche only when cash in hand falls below 10%. Drawdowns stop if less than half is used within two years. SISFS guidelines, cl. 5.5, 5.7 | Your founders need to reach milestones on time, so the pilot's measures are set against the milestones in their agreements. |
| Reporting. Progress from proof of concept to launch, funding, jobs and turnover, reported in real time to the Startup India dashboard and quarterly to the Experts Advisory Committee. cl. 10.1–10.3 | The cohort report is built so its evidence can go straight into what you already submit. |
| Mentoring is assessed. Incubators are judged partly on mentoring, including hours per startup per month. SISFS Annexure | Sessions delivered and mentoring hours are recorded for every founder. |
| No fees to founders. No fee may be charged to Seed Fund applicants or beneficiaries, in cash or kind. cl. 5.12, 8.9 | Founders never pay us. The programme does. |
| Seed Fund money is for startups only. The grant cannot pay for facilities or other expenses. cl. 5.2 | Our fee comes from your programme's own budget, never from Seed Fund money. |
- NIDHI programmes run through TBIs: PRAYAS (up to ₹10 lakh per innovator), Entrepreneur-in-Residence and Seed Support. DST NIDHI
- Defence-tech programmes linked to iDEX, where the gap between a challenge win and a procurement order is the real problem.
- State hubs and women-led programmes, with cohort sizes and calendars that vary widely.
Our founder invests personally. We do not sit on a programme's selection or investment committee while working for that programme.
Our own ecosystem.
Telangana has built one of India's most organised support systems, and we work alongside it:
- T-Hub runs dedicated tracks, among them AI and machine learning (MATH), defence (T-Drive), international expansion (T-Bridge) and campus founders (Kick Start).
- TSIC funds grassroots innovation in three tiers (Prototype, Seed, Pilot), and its Government Startup Connects puts startups in front of state departments.
- WE Hub is India's first state-led organisation for women entrepreneurs.
- Meetings
- Online anywhere in India, and in person in Hyderabad by arrangement, at your office or programme
- Invoices
- In INR, with GST, from a Telangana-registered company
- Founder data
- Handled to the standard of the DPDP Act. Its Rules were notified on 14 Nov 2025 and phase in over 18 months. PIB
- Language
- English
Seed Fund, DPIIT and working with us.
Do you help with DPIIT recognition or Seed Fund applications?
We help founders build the business case and the evidence behind it. The application, and the decision, are theirs and the programme's.
Do you work outside Hyderabad?
Yes, with founders and programmes across India, mostly online.
Do you only work with deep tech?
No. Deep tech, SaaS and consumer, each with its own page.
Can a programme pay for a pilot from Seed Fund money?
No. The Seed Fund grant is for startups only. Programmes pay from their own budget.
Figures on this page were last checked on .
Talk it through, in Hyderabad or online.
A 45-minute call with Dineshwara, or a two-week Strategic Diagnostic if you already know the question.