Our Goal

The Samarth Bhanap Yojana (SBY), initiated by Shri Chitrapur Math, aims to promote entrepreneurship within the community by providing financial support, mentorship, and resources to new businesses and startups. It seeks to remove barriers to capital, access to mentor and markets in achieving entrepreneurial dreams and foster job creation. The scheme offers funding to innovative and profitable ideas and facilitates access to business services and expert guidance.

Vision of SBY

Samarth Bhanap Yojana (SBY) is a new initiative launched by Chitrapur Math, inspired by PP Sadyojat Shankarashram Swamiji, to empower aspiring entrepreneurs to achieve their dreams.

In today’s knowledge-driven economy, where entrepreneurship is key to both individual & national success, access to seed capital can be a major hurdle. The SBY aims to bridge this gap by providing financial support to deserving young individuals with entrepreneurial aspirations.

Our Mission

Nurturing Promising Startups

Samarth Bhanap Yojana fosters startups by offering seed funding, expert mentorship, and access to crucial business support services, enabling growth and innovation within the community.

Empowering Growth of Businesses

Samarth Bhanap Yojana empowers business growth by connecting businesses with volunteer experts for guidance on marketing, sales, and supply chain management and assists with business plan refinement and IT infrastructure setup to support expansion.

Creating Employment Opportunities

Samarth Bhanap Yojana will drive job creation by supporting establishment of new businesses which will in turn stimulate demand, foster innovation, and revitalize local economies, while being supported by SBY initiatives.

What will SBY Offer?

Financial Assistance

SBY will provide seed funding of upto INR 20 Lakhs and provide forward linkages to startups with banks, venture capital funds and angel networks, wherever feasible.

Mentorship

SBY will provide guidance and support from experienced professionals from the community, who have expertise in technology, business, and other specialized areas.

Networking

SBY will help enterprises build connections with academia, financial institutions, industries, and other relevant institutions, based on the needs of the entrepreneur.

Business Advisory

SBY connects entrepreneurs with expert service providers offering comprehensive business advisory services including registration, accounting, taxation, legal, funding, and more.

Venture Founder Program

SBY is in the process of designing a virtual incubation program to support aspiring, budding, and future entrepreneurs through expert mentorship and extensive resources.

Eligibility

  • Applicants should be above 18 years of age and must be citizens of India.
  • Applicants must be individuals planning to establish a new business and preference shall be given to first-time entrepreneurs entering into a viable business that has sufficient growth potential and lacks adequate finance/seed capital.
  • Enterprises must be registered in and operating from India and minimum of 25% of the proposed business entity shall be owned by the promoters prior to availing funding under this scheme.
  • Applicant should not be a defaulter in any bank/ financial institution.
  • Applications to SBY will be accepted from non-Indian nationals and those below age limit can apply for mentoring guidance and for help with business networking alone even though they are not eligible for funding.

Evaluation Criteria

Need for the Idea

SBY will assess the market size, the gap the idea fills, and whether it solves a real-world problem.

Feasibility

SBY will evaluate the feasibility and viability of the product or service in the given market.

Potential Impact

SBY will look at the customer demographic and the technology’s effect on them, as well as the national importance (if any).

Novelty

SBY will assess the unique selling proposition (USP) of the product/service and any associated intellectual property (IP).

Team Strength

SBY will evaluate the strength of the team, including technical and business expertise.

Fund Utilization Plan

SBY will review the roadmap for utilizing the funding to establish and scale the business model.

Additional Parameters

Any additional parameters considered appropriate by the SBY Selection Committee.

Presentation

Overall assessment of the application/quality of the presentation made by the shortlisted enterprise/entrepreneur.

Application Process

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Step 1
Step 1

Online Application

An online call for applications is hosted on the SBY portal and is advertised on relevant social media channels. Applicants can apply to the scheme by providing all relevant details required to complete the application process before the defined deadline.

Step 2
Step 2

Application Details

The applicant may be asked to submit details on the team profile, problem statement, product/service overview, business model, customer profile, market size, quantum of funds needed, and projected utilization plan for funds.

Step 3
Step 3

Application Screening

An Expert Committee (EC) will shortlist applicants based on the eligibility criteria mentioned above and will be invited to make a presentation to the EC. Non-shortlisted applicants will be intimated appropriately.

Step 4
Step 4

Due Diligence / Verification

The EC shall evaluate the business proposal and conduct a due diligence on important documents related to the business to verify the authenticity of the business proposal.

Step 5
Step 5

Release of Grants

The Governing Body of SBY will decide on awarding grants based on EC recommendations, evaluations, and due diligence reports. Grants will be released once the entrepreneur/enterprise commits to contributing at least 20% of the approved grant value.

Resources

Explore our Resources section for expert-curated webinar recordings, business plan templates, and financial planning frameworks. Whether you’re launching a startup or optimizing your business strategy, these tools are designed to help you make informed decisions and scale efficiently.

Read More

Winners of Cohort-1

Frequently Asked Questions

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What will be the nature of funding? Will it be equity or debt?

It will be neither equity nor debt but a grant. An application will go through a selection process, and upon successful selection, the SBY will also determine the amount of funding to be granted. Also funding will be disbursed in tranches as determined during evaluation.

While there is no contractual obligation to repay this grant funding to SBY, it is expected that businesses that go on to do well will donate (possibly with some multiple in the financing availed) to the SBY in future so that SBY can continue to fund more Bhanap Businesses in future.

Will the age of the primary applicant limit eligibility?

There is no age limit for applicants. Merit of the business case shall be the determining factor in selection.

Can existing businesses apply for funding to grow their business?

No. The primary objective of the fund is to help start new businesses particularly for new entrepreneurs. Existing businesses will not be eligible to apply to SBY. Experienced entrepreneurs who want to start a new business venture may apply.

Will funding be available only for first-time entrepreneurs?

SBY is targeted to promote start of new businesses and first-time entrepreneurs will be given preference. Entrepreneurs who have run businesses earlier may only apply for starting a new business. Their evaluation will take into account their earlier business.

Can I only apply for mentoring or support services even if I don’t want to take funding from SBY?

Yes, applications that request only mentoring and support services but do not want to take SBY funding, will be accepted.

Can I get help with a partner Bank under their MSME funding even if I don’t apply for funding from SBY?

Yes, if the applicant indicates this, and based on the evaluation of the business plan, SBY will help the applicant apply for MSME funding from partner banks.

What is the quantum of funding I can get?

SBY grant will be limited to a maximum of 20 lakh Rs for each applicant, and SBY will determine the sanctioned grant based on due diligence on the finance plan.

Are there any types of businesses that will not be eligible for funding?

Certain businesses that are not in line with the objectives of the SBY, including (but not limited to) speculative businesses (such as equity or commodity trading or real estate) or businesses that are primarily based on liquor, will not be eligible for funding.

I am keen to start a business and have a business idea, but I need guidance to develop a business plan. Can I get help on this from SBY?

Yes, SBY will have a panel of mentors to guide entrepreneurs in fine-tuning their business ideas and plans.

Can applicants get help with mentoring and support services even if funding is not needed?

Mentoring and support services will be available to the applicants who do not request for funding.

Post-funding, will my business be required to adhere to any controls/restrictions from SBY?

Yes, among other conditions, a funded applicant will need to:
  1. report their accounts (MIS) periodically to the SBY – this is to ensure that the business plan utilizes the funding from SBY
  2. Take approval from SBY for any change of control, management or essential purposes of the business
  3. Give preference to Bhanaps in hiring when suitable candidates are available
  4. Note that there may be other conditions that apply which will be communicated upon selection.

When can I apply for funding? Is it a one-time window, or will applications be accepted at all times?

Applications will be invited in cohorts (groups) at periodic intervals (typically twice a year – Vijaya Dashami and Akshay Tritiya). The exact dates of application window will be announced on the SBY website (www.samarthbhanap.com) and through the social media resources of Shri Chitrapur Math, KSA, Yuvadhara, etc.

What is the process of application and evaluation?

Applications for a cohort (batch) will be processed together. Application forms will be reviewed, and short-listed applicants will be called to present their business plans to the evaluation committee (in person or via video conference, depending on the participants’ locations). In some cases, additional interactions may be needed depending on the follow-up questions and data required by SBS committees. There will be due diligence done on supplied information. The final decision regarding the grant and quantum of funding will be communicated to successful applicants. Disbursal will be subject to the signing of appropriate agreements.

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samarthbhanap@chitrapurmath.net.in