NIDHI Seed Support

NIDHI SSS_Second Call

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ABOUT THIS APPLICATION

NATIONAL INITIATIVE FOR DEVELOPING AND HARNESSING INNOVATIONS

(NIDHI)

NIDHI - SEED SUPPORT PROGRAM (NIDHI - SSP)

"National Initiative for Developing and Harnessing Innovations - Seed Support Program (NIDHI-SSP)" is a robust and formalized initiative established by the Department of Science and Technology to address the financial needs of technology-driven startups during their crucial early stages. As part of the larger Science & Technology Entrepreneurs Parks and Technology Business Incubators (STEP/TBIS) program, NIDHI aims to nurture and support innovative ventures, facilitating their growth and eventual success in the market.

The Pilani Innovation and Entrepreneurship Development Society (PIEDS) is accepting applications for a seed fund as part of the (NIDHI-SSP) initiated by the Department of Science and Technology.

The core objective of the NIDHI seed support program is to offer financial assistance to potential startups that possess promising ideas, innovations, and technologies. This assistance aims to facilitate the growth of these incubated startups with innovative ideas/technologies, allowing them to progress to a stage where they can attract investments from Angel/Venture capitalists or obtain loans from commercial banks/financial institutions. Consequently, the proposed seed support provided by an incubator to an incubatee serves as a vital link between the development and commercialization of innovative technologies/products/services in a relatively seamless manner.

Broad Areas and Items to be covered under the NIDHI-Seed Support Assistance

Product development
Testing and Trials
Test Marketing
Mentoring
Professional Consultancy (To attract professors/experts from institutions to work with start-ups.)
IPR issues
Manpower for day-to-day operations
Any other area as deemed necessary and recommended by the Seed Support Management Committee of STEP/TBIS.

ELIGIBILTY

ELIGIBILITY CRITERIA:

Incubatee should be strictly building a hardware-based startup.
Incubatee should not have been previously funded under this scheme.
Incubatee has to be an Indian startup. This support is not meant for Indian Subsidiaries of MNCs/foreign companies. Persons holding Overseas Citizens of India (OCI), and Persons of Indian Origin (PIO) would be considered as Indian citizens for the purpose of this scheme.
The share holding by Indian promoters in the incubated startup should be at least 51%.

TYPICAL Terms for seed funding:

Seed support can be provided as a debt, equity, or a combination of both to the deserving incubatees.
Investment Amount: Upto Rs. 50 lakhs.
The startup should be a resident incubatee of PIEDS at the time of investment.

SELECTION CRITERIA:

Is the requested funding amount sufficient to achieve the critical milestone?
Does the venture possess a well-defined and potentially significant/singular value proposition?
How large and rapidly expanding is the potential market for the venture?
Have the target customers been clearly identified?
How credible is the technology, particularly with regard to the proof of concept, as assessed by subject-matter experts?
Are there any regulatory, certification, or policy risks associated with the venture?
What are the sources of sustainable competitive advantage, such as novelty or patentability?
How robust is the business plan in terms of revenue model, product roadmap, and market segments?

By clicking on Apply, you are allowing the incubator to access your name, company name and email address

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