Application Invited for SIDBI Innovation Challenge Fund SICF

Application Invited for SIDBI Innovation Challenge Fund SICF

Organization: Small Industries Development Bank of India (SIDBI)

Apply By: 16 Oct 2026

About the Organization

Set up on April 2, 1990 under an Act of Indian Parliament as a principal financial institution for: -- Promotion -- Financing and -- Development of industries in the MSME sector and -- Co-ordinating the functions of other institutions engaged in similar activities. Provision and Charter: SIDBI was established on April 2, 1990. The Charter establishing it, The Small Industries Development Bank of India Act, 1989 envisaged SIDBI to be "the principal financial institution for the promotion, financing and development of industry in the small-scale sector and to co-ordinate the functions of the institutions engaged in the promotion, financing or developing industry in the small-scale sector and for matters connected therewith or incidental thereto". Business Domain of SIDBI: The business domain of SIDBI consists of small-scale industrial units, which contributes significantly to the national economy in terms of production, employment and exports. Business Strategy of SIDBI: The business strategy of SIDBI is to address the financial and non-financial gaps in the MSME ecosystem. Financial support to MSMEs is provided by way of (a) indirect finance / refinance to banks / financial institutions for onward lending to MSMEs and (b) direct finance in the niche areas like risk capital, sustainable finance, receivable financing, service sector financing, etc.

About the Grant

The SIDBI Innovation Challenge Fund (SICF) is a distinctive, forward-looking digital platform designed to catalyze transformative ideas and drive measurable developmental impact. Conceived as a competitive mechanism, SICF actively seeks to crowd-source pioneering, outcome-oriented solutions that address pressing socio-economic challenges. Rooted in SIDBI's mandate as a development finance institution and its commitment to inclusive growth and sustainable development, the Fund supports visionary entities that are not only aligned with development agendas but are also equipped to translate ideas into scalable impact. SICF empowers innovators, enterprises, and changemakers by bridging critical funding gaps and enabling the successful implementation of breakthrough solutions. At its core, SICF champions the ethos of Inclusive, Innovative, and Impactful (I3) interventions. It prioritizes projects that: - Foster sustainable enterprise creation, - Leverage cutting-edge innovation and technology, and - Mobilize market-driven ecosystems to unlock economic opportunities for underserved and aspiring communities. More than a funding mechanism, SICF is an enabler of change—an ecosystem that nurtures bold thinking, rewards ingenuity, and accelerates the journey from concept to impact. By aligning capital with purpose, SICF strives to build resilient, future-ready solutions that contribute meaningfully to India's development narrative. Under windows of SICF, 28 inclusive, innovative, and impactful projects have been supported for capacity building, enterprise creation, market linkage, credit connect and job creation. In all, SIDBI is transforming more than 12,000 lives through various innovative interventions. The beneficiaries supported through SICF mostly comprise of Women, Tribals, Divyangjans, Artisans, Disaster Victims, Manual Scavengers, etc.

Objectives

- Simplify: Make complex MSME information easy to understand.

- Contextualise: Deliver AI-enabled guidance tailored to each enterprise.

- Act: Convert information into digital journeys and clear next steps.

- Link: Connect MSMEs with finance, institutions and expert support.

- Expand: Build multilingual, mobile-first solutions for wider adoption.

Financial Support

- Application Category: Scale-up / Replicable Interventions

- Fund Support: Fund support upto ₹2 Crore may be considered for the implementation.

Theme for the proposed cohort:

- Artificial Intelligence enabled Prototype Solutions for MSME Lifecycle Support Sustainable Development Goals Catered The programs supported under the Challenge Fund have made a tangible contribution to the UN's 11 Sustainable Development Goals through various pilot and scale-up interventions. By aligning with the SDGs, the initiatives have helped communities as well as the environment holistically. How to Apply For more information, please check the link: Application Invited for SIDBI Innovation Challenge Fund SICF

Funding organisation: Small Industries Development Bank of India (SIDBI)

Grant announcement listed on NGOBOX. Applications are made to the funding organisation — see the official announcement.