National Science & Technology Entrepreneurship Development Board (NSTEDB) – Seed Support System
Supported by DST, Government of India
KIIT-TBI is hosting a seed fund with a corpus of Rs 2 crore under the scheme “Seed Support System for Start-ups in Incubators” of the National Science & Technology Entrepreneurship Development Board (NSTEDB), Department of Science & Technology.
The Seed Support is for incubatees physically incubated at KIIT-TBI. The funds are meant for early-stage funding for indigenous ideas and technologies requiring up-scaling and related work.
Quantum of financial assistance to the incubated entrepreneur
- Minimum: Rs. 5 lakhs
- Maximum: Rs. 50 lakhs
Broad Areas to be covered under the financial assistance include:
- 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.
The Seed fund emphasizes:
- Alignment with KIIT-TBI’s Focus areas
- Product offerings (vs service offerings)
- Technology-driven enterprises
- Strong knowledge components in enterprises
The seed fund is only for
- Companies with a minimum 51% ownership by Indian nationals
- Companies ready to be incubated at KIIT-TBI