Investor Profile: FIIRE Goa — Thesis, Cheque Size & How to Apply

FIIRE Goa, the Forum for Innovation Incubation Research and Entrepreneurship, is a technology business incubator supported by the Department of Science and Technology, Government of India, operating from Don Bosco College of Engineering, Fatorda, Goa. Its stated vision is to make Goa the premier destination for TourismTech startups by 2030.

Investment thesis

FIIRE Goa's thesis is that tourism, hospitality, travel and sustainability are a single innovation opportunity, and that technology can improve the experience for travellers while creating livelihoods for local service providers. It therefore supports tech entrepreneurs whose innovations can have global impact and bring livelihood opportunities to local ecosystems.

Sectors and stages

FIIRE Goa focuses on TourismTech: startups addressing challenges in tourism, hospitality, sustainability, mobility and customer experience. The stage is early: ideation, proof of concept, prototype and early market entry.

Fund size and cheque size

FIIRE Goa is an incubator, not a venture fund, so it does not publish a single fund size, and that figure is not publicly disclosed. What it does publish is outcome scale: its homepage says it has supported more than 250 startups, funded 63 startups, and that those startups have raised Rs. 111 crore through various seed funds and equity grants programmes. For individual support, its Startup India Seed Fund Scheme page lists up to Rs. 20 lakh as a grant for proof of concept, prototype development or product trials, and up to Rs. 50 lakh as investment for market entry, commercialisation or scaling.

Notable portfolio

FIIRE Goa's startup pages list incubatees across tourism, hospitality and sustainable technology, including Hypergro.ai, an artificial intelligence creative partner for image and video advertisements, Upswing, a predictive analytics startup for global hospitality, and Reverse Infinity, described as Goa's first biohacking wellness clinic.

Partners

Its chief executive is D. S. Prashant, and its chief operating officer is Thejus Joseph, who earlier led Lab32 at T-Hub in Hyderabad. Its collaborators include the Travel and Tourism Association of Goa, the state Startup Promotion Cell and NABARD, alongside national schemes run through the Department of Science and Technology and Startup India.

Programs, credits and perks

FIIRE Goa's programmes are its product: incubation, investment support, and coworking across two campuses in Goa, with a 25,000 sq. ft. space, meeting rooms, a design centre and a prototyping lab with computer numerical control machining, 3D printing and software facilities. Government-backed routes it helps startups access include NIDHI PRAYAS, NIDHI EIR and the Startup India Seed Fund Scheme (SISFS), plus the Goa Tourism Accelerator.

How to apply for funding

FIIRE Goa does not publish a single always-open venture application in the sources read. The real route is to apply through the incubator and the relevant government scheme. For SISFS, eligible startups must be recognised by the Department for Promotion of Industry and Internal Trade (DPIIT), incorporated within the past two years, using technology in their core product, service, business model or distribution, with at least 51% Indian promoter shareholding, and must not have received more than Rs. 10 lakh from another central or state scheme, excluding prize money and subsidised space. Founders can contact FIIRE Goa at [email protected] or on +91 8600788078.