NIDHI-SEED SUPPORT SYSTEM
AIC-CCMB is now providing financial support for startups under the scheme “National Initiative for Developing and Harnessing Innovations – Seed Support System (NIDHI-SSS)” by National Science & Technology Entrepreneurship Development Board, Department of Science and Technology NIDHI-SSS aims to nurture ideas, technologies and innovations by providing financial assistance to promising startups. This support will enable startups to graduate to a level where they will be able to raise investments or seek loans from financial institutions. At AIC-CCMB, we aim to infuse much-needed funds to bridge the gap between development and commercialization.
Financial assistance for
- Product development
- Testing and trials
- Test Marketing
- Professional Consultancy (To attract Professors of institutions to work with small firms)
- IPR issues
- Manpower for day to day operations
- Any other area as deemed necessary and recommended by the Management Committee
Eligibility for seed support
- Incubatee should be a registered company in India with minimum three months of residency at AIC-CCMB
- Incubatee has to be an Indian start-up. This support is not meant for Indian Subsidiaries of MNCs/foreign companies. Persons holding Overseas Citizens of India (OCI), Persons of Indian Origin (PIO) would be considered as Indian citizens for the purpose of this scheme.
- Indian promoters shall hold at least 51% of shares in the incubated company.
Quantum of NIDHI –SSS
Financial assistance of Rs 25 lakhs upto Rs. 100.00 lakhs from DST as grants-in-aid for the seed support released in about 2-5 rounds with a max of Rs. 500.00 lakhs/round based on the assessment
Round 3 will open soon!