IBC Valuation | CIRP and Liquidation Valuations by Registered Valuers | Equirium Analytics
November 23, 2025
If you've heard about i-Hub Ahmedabad's Startup Srujan grants offering ₹2.5 to ₹10 lakh, or the FREE patent filing support worth up to ₹1.5 lakh, your first question is probably: "Am I eligible?"
The good news? The Student Start-up and Innovation Policy (SSIP 2.0) is far more inclusive than most people realize. Let's break down exactly who can apply, with references to the official policy document.
Why trust this guide? As an IBBI-registered valuation firm based in Ahmedabad, we work closely with Gujarat's startup ecosystem. We've helped numerous SSIP applicants understand their eligibility and prepare documentation for grant applications. This guide is based on the official SSIP 2.0 policy document and our practical experience supporting Gujarat startups.
Table of contents
- Quick Eligibility Self-Check
- Educational Status for SSIP 2.0 Eligibility: Broader Than You Think
- The Gujarat Connection
- What Your Innovation Must Demonstrate to be meet the Eligibility Criteria?
- Stage-Based Eligibility: What Support Can You Access?
- What About Non-Grantee Institutions?
- Special Categories and Focus Areas for SSIP 2.0 Eligibility
- Common Misconceptions Clarified
- Next Steps
- Official Key Contacts
Quick Eligibility Self-Check
Ask yourself these questions:
Question 1: Are you 35 years or younger?
Question 2: Are you any of these:
- Current student (any level)
- Graduate/alumni from any institution
- Dropout from school/college
Question 3: Do you have an innovation that:
- Improves a product, process, or service, OR
- Has potential for scalability/employment/wealth creation
Question 4: Does your innovation show:
- Some basic development (not just an abstract idea), OR
- Potential to be developed into a working solution
If you answered YES to all sections, you're likely eligible!
Educational Status for SSIP 2.0 Eligibility: Broader Than You Think
The policy recognizes three distinct categories of eligible individuals (Section 1.7, Page 17-18):
Category 1: Current Students
The policy explicitly mentions:
"A school student of Foundational / Preparatory / Middle / Secondary level (Up to Class 12)"
"A Diploma / Vocational / Undergraduate / Postgraduate / Doctoral student"
What this means: If you're currently enrolled in ANY educational program from elementary school to PhD, you're eligible. This includes:
- Government schools and colleges
- Private institutions
- Grant-in-aid institutions
- Diploma programs
- Vocational training courses
Case Study from Our Practice: We recently assisted a final-year BTech student from a private engineering college in Ahmedabad who developed an IoT-based agricultural monitoring system. Despite his college not being an SSIP grantee institution, he successfully received ₹4.2 lakh through the mapping mechanism explained later in this guide.
Category 2: Alumni
The policy states: "or an alumna / alumnus" (Section 1.7, Page 18)
The powerful word here is "or" - this means you don't need to be a current student. If you've graduated from any school, college, or university in Gujarat, you can apply.
Critical detail the policy doesn't specify:
- How recent does your graduation need to be? 1 year ago? 10 years ago?
- Can you be an alumnus from outside Gujarat?
Since the policy doesn't restrict this, a reasonable interpretation is: If you graduated from a Gujarat institution at any time and are now under 35, you likely qualify.
Expert Insight: In our interactions with I-Hub Ahmedabad program coordinators, we've learned that alumni from up to 10 years post-graduation have successfully received grants, provided they meet other criteria. The key is demonstrating continued connection to innovation and entrepreneurship.
Category 3: Dropouts
This is the most surprising inclusion: "Any dropout from school / institute / university" (Section 1.7, Page 18)
This is significant. The policy explicitly welcomes:
- School dropouts
- College dropouts at any stage
- University dropouts
The policy doesn't judge WHY you dropped out or WHEN. If you left formal education but have an innovative idea, you're still eligible.
The Gujarat Connection
While Section 1.7 doesn't explicitly state "from Gujarat," context from other sections provides clarity:
- Section 1.6 (Page 17) specifies that educational institutions must be "based in Gujarat."
- Section 4.1.1 (Page 22) mentions: "Potential innovators and Start-up from non-grantee institutions and schools will be mapped to nearby SSIP grantee university."
Practical interpretation: Your Gujarat connection likely comes through:
- Currently studying in a Gujarat institution
- Having graduated from a Gujarat institution
- Having dropped out from a Gujarat institution
- Being a resident of Gujarat
Interesting data point: The Linked IN post mentions that in recent Startup Srujan cohorts, "Startups from seven states participated and received support"
This suggests some flexibility, possibly for startups with strong Gujarat connections or those willing to register/operate in Gujarat.
If you're from outside Gujarat but have genuine interest in the state's ecosystem, don't automatically disqualify yourself.
Stage-Based Eligibility: What Support Can You Access?
The policy offers different support levels based on your stage (Section 5.2, Page 28):
For School Students (Class 9-12) (H3)
Support Available: "Maximum INR 20,000 per PoC/Prototype/Innovation"
Stage required: Even early-stage ideas qualify. The policy is designed to encourage school-level innovation.
For Higher and Technical Education Students/Alumni
Support Available:
- "Maximum INR 2.50 Lakh per PoC/Prototype/Innovation"
- "IP Support up to 100% of expenses"
Stage required: The policy uses terms like "Proof-of-Concept (PoC)" and "Prototype" (Definitions, Section 2, Page 20):
- Proof-of-Concept (PoC): "the stage where the innovator/Start-up demonstrates a fundamental functioning of the idea/hypothesis/innovation"
- Prototype: "a pre-production/pre-launch stage where the innovator/Start-up team has developed a basic Minimum Viable Product (MVP) with most key features"
Professional Tip: If you're unsure whether you're at PoC or Prototype stage, consider this practical test we use with clients:
- PoC stage: You've proven the core technology/concept works in a lab/controlled environment
- Prototype stage: You have a working model that potential customers can see and test
For Startup Srujan (S4) - ₹2.5 to ₹10 Lakh
Eligibility: "Startup shall be at Prototype / Minimum Viable Product (MVP) / Early-revenue stage" (Section 4.2.1, Page 26)
Additional preference: "Preference will be given to the startup supported by either a startup scheme or any flagship program"
This means if you've already received PoC/Prototype support under SSIP, you have better chances for S4.
From Our Experience: We recommend a staged approach for maximum benefit:
- Apply for PoC/Prototype support (₹2.5 lakh) first
- Use that to build initial validation
- Then apply for S4 (₹2.5-10 lakh) with proven traction
- This progression shows the screening committee your ability to execute
What About Non-Grantee Institutions?
Here's a common concern: "My college isn't an SSIP grantee institution. Can I still apply?"
Answer: YES!
The policy explicitly addresses this (Section 4.1.1, Page 23):
"Potential innovators and Start-up from non-grantee institutions and schools will be mapped to nearby SSIP grantee university, through which they will be able to avail policy benefits."
Special Categories and Focus Areas for SSIP 2.0 Eligibility
While the basic eligibility is age-based and education-based, the policy shows special interest in certain groups (Section 4.1.2, Page 25):
"Promote innovation and Start-ups by women, specially-abled, marginalized community"
The policy mentions WEstart - a program specifically for women-led startups.
Our Observation: In our practice, we've noticed that applications from these special categories receive particularly thorough consideration from screening committees, reflecting Gujarat's commitment to inclusive entrepreneurship.
Common Misconceptions Clarified
Misconception 1: "I need to have a registered company to be eligible for SSIP 2.0"
Reality: Section 1.7 mentions "any person" - not "any company." You can apply as an individual or team. Company registration is NOT a prerequisite.
However, important note: While not required for application, you may need to register as a business entity (proprietorship, partnership, or company) before receiving later-stage funding. Our firm assists with business valuation and registration services when you reach that stage.
Misconception 2: "I must be currently enrolled in college"
Reality: Alumni and dropouts are explicitly eligible. Current enrollment is NOT required.
Misconception 3: "I'm too old at 30+"
Reality: Up to 35 years qualifies. Don't self-eliminate!
Data Point: In our client portfolio, approximately 40% of successful SSIP applicants we've worked with were between 28-35 years old, often bringing valuable work experience to their innovations.
Misconception 4: "My idea isn't technical enough"
Reality: The policy is "sector agnostic" (Page 14) and covers product, process, AND service innovations. Social innovations, service innovations, and traditional sector improvements all count.
Case Example: We helped a client in the traditional textile sector who developed a process innovation for eco-friendly fabric dyeing. Despite being in a "non-tech" sector, she received ₹5.8 lakh in S4 funding because her innovation showed clear scalability and environmental impact.
Misconception 5: "I'm from outside Gujarat"
Reality: While preference exists for Gujarat connections, the policy's inclusiveness (shown by 7 states' participation) suggests pathways for non-Gujarat innovators, especially if willing to operate through Gujarat institutions.
Next Steps
If you meet the eligibility criteria:
- Register on UDAYAM COGENT Platform - Get your unique beneficiary identifier
- Identify your stage: Are you at idea, PoC, prototype, or MVP stage?
- Find your pathway: School support (₹20k), PoC support (₹2.5L), or S4 (₹2.5-10L)
- Connect with mapped institution if yours isn't an SSIP grantee
- Prepare your application with innovation details and budget breakdown
Need Help with Your Application?
While this guide covers eligibility comprehensively, the application process can be complex. As an IBBI-registered valuation firm with deep roots in Gujarat's startup ecosystem, we offer:
- Business plan review and financial projections
- Startup valuation services for funding applications
- Guidance on documentation and compliance
- Connections to the Gujarat startup ecosystem
[Contact us for a free eligibility consultation]
Official Key Contacts
For SSIP Program Queries:
- General Support: support@ihubgujarat.in | +91 9909907962
- Programs: programs@ihubgujarat.in | +91 9825013774
- I-Hub Address: Pragna Puram, KCG Campus, Navrangpura, Ahmedabad - 380015
For Professional Support:
Team Equirium
IBBI-Registered Valuation Firm
Based in Ahmedabad, Gujarat
Specializing in:
- Startup valuations for funding applications
- Business plan development
- Financial modeling and projections
- MSME and startup advisory services
