Running the SIDBI iDEX Seed Program at IIT Kanpur
Owned the full investment lifecycle for a defence-focused seed fund, from startup sourcing to IC-ready valuation reports
Shivanshu Mishra
Startup Fundraising & Investments at Startup Incubation and Innovation Centre, IIT Kanpur (incubatoriitk)
From their time as
Startup Fundraising & Investments
Startup Incubation and Innovation Centre, IIT Kanpur (incubatoriitk) • 2025
Overview
Shivanshu joined SIIC, IIT Kanpur as a two-person investment desk and took ownership of the operational engine behind the SIDBI iDEX program, a defence-focused seed fund backed by the Government of India.
The Story
Shivanshu joined SIIC, IIT Kanpur as a two-person investment desk and took ownership of the operational engine behind the SIDBI iDEX program, a defence-focused seed fund backed by the Government of India.
His mandate covered the full investment lifecycle. He launched the application process, managed startup registrations against the program's MOU requirements, and built the initial screening pipeline. From a broad inbound pool, he shortlisted companies based on revenue traction, technological readiness level (TRL), and IP defensibility.
Founder Assessment and Diligence
For roughly 25% of shortlisted companies, Shivanshu conducted one-on-one founder conversations. His evaluation framework went beyond the pitch deck: he assessed whether founders understood their market, not just their product; whether they had a grasp of unit economics and cash flow; and whether they had the managerial range to lead a business, not just build a technology. Many of these founders came from deep-tech and research backgrounds, making that last question particularly consequential.
He also evaluated team composition, looking for whether the founding team collectively covered the financial and operational gaps the technical founder could not.
Investment Materials and IC Reporting
Once companies were shortlisted, Shivanshu built the investment memos and one-pagers that went directly to the investment committee. These materials drove the IC's decisions on funding instrument and amount from the program corpus. He also led valuation negotiations with founders post-IC, building detailed valuation reports that formed the basis of term discussions. Valuation was a sensitive and consequential step: it determined whether the investment made economic sense for both sides.