Purnima Lallan Sharma Foundation · Est. 2021
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Starting a venture

How to find mentors, incubators and funding support

Compare support programmes, prepare your first approach and check the terms.

By PLS Foundation · · 6 min read, plus practice

Read this guide on its own, or follow From an idea to your first customer.

The short answer

Start with the help you need: advice, facilities, introductions or money. Compare programme fit and terms, then approach an appropriate mentor or incubator with evidence and a specific question.

The idea at a glance
  1. 01Need

    One decision or milestone

  2. 02Fit

    Relevant expertise and terms

  3. 03Approach

    Evidence + a clear question

Define the support you actually need

Separate advice, workspace, technical facilities, customer introductions and money. An incubator that is useful for laboratory work may not fit a local service business. A mentor should help with a specific decision; an introduction is not a promise of investment.

Four colleagues meet around a table while one points to a map on the wall.
A NAVFAC Hawaii Planning Branch team meeting, photographed in 2012. · Krista K. Catian / NAVFAC Pacific Public Affairs · CC BY 2.0

Build a shortlist from official sources

Use Startup India’s scheme directory to find the administering organisation, then read the current programme notice. Maharashtra State Innovation Society lists supported incubators. In Gujarat, i-Hub and the SSIP portal provide routes to explore student innovation and startup support. A directory listing does not mean applications are currently open.

Compare terms before applying

  • Eligibility: stage, sector, location, entity and any required recognition.
  • Support: what is actually provided, for how long and by whom.
  • Cost and ownership: fees, equity, repayment, reporting and intellectual-property terms.
  • Selection: official deadline, documents and the organisation’s own contact channel.

A grant supports an agreed purpose and normally has no routine repayment when its conditions are met; spending and reporting restrictions still matter. Debt is borrowed money that must be repaid under agreed terms, usually with interest. Equity investment provides money in exchange for an ownership share, so existing owners share future value and may share decision rights. Compare what happens after the money arrives: permitted use, repayment dates, ownership and obligations.

A grant, a loan and equity investment have different consequences. Read the actual offer and obtain qualified advice before signing funding terms. Avoid anyone promising guaranteed selection or asking you to transfer an “approval fee” to a personal account.

Prepare a clear first approach

PLS Foundation welcomes mentoring and connection enquiries. Our proposed grants and formal incubation programme do not currently have an open application window on this site.

Contact PLS about founder support →

Choose the kind of support before the provider

An application should follow a clear need
If you need…Look for…Ask first…
A decision about your next testA mentor with relevant experienceCan you review this question and evidence?
Equipment or technical validationA suitable lab or specialist incubatorWhat access, safety rules and fees apply?
Money for a defined milestoneA suitable open funding programmeGrant, debt or equity? What obligations follow?

In Maharashtra, begin with the MSInS incubator directory and shortlist by relevant sector and location. In Gujarat, review i-Hub and SSIP information and ask your college whether it participates. Contact the organisation through its published channel to confirm current intake. Neither being listed nor attending an event guarantees selection.

A useful first message to a mentor

Bring the working notes, not just a polished presentation. After the discussion, write which advice you will test, what assumptions remain and when you will review the result. You remain responsible for your decisions; useful mentoring should help you ask better questions rather than depend on one person’s certainty.

Check your understanding

Is an incubator the same as an investor?

No. Incubators may offer facilities, advice or networks; funding depends on the programme and agreement. Read the actual offer rather than assuming capital is included.

What should I take to a first mentor meeting?

A short description of the problem, evidence from your test, what remains uncertain and one decision you need help with.

Sources & further reading

Updated 20 September 2026. Open the issuing authority’s page for current rules, fees and course availability. Examples and worksheets are PLS Foundation learning exercises; legal and financial decisions may need qualified advice for your circumstances.

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