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An initiative of Bharatiya Vidhya Bhavan's Sardar Patel Institute of Technology

Sardar Patel Technology Business Incubator

Supported by Department of Science and Technology - Government of India
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Sardar Patel Technology Business Incubator

Supported by Department of Science and Technology - Government of India
incubation

ABOUT

National Initiative for Developing and Harnessing Innovations (NIDHI) is an umbrella programme conceived and developed by the Innovation & Entrepreneurship division, Department of Science & Technology, Government of India, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups. NIDHI-Seed Support Program, is an initiative of the National Science & Technology Entrepreneurship Development Board (NSTEDB), Department of Science & Technology, is bridging the critical financial gap faced by technology-driven startups in their early stages. It recognizes that many promising startups with groundbreaking ideas, innovations, and technologies struggle to find adequate financial support to bring their visions to life. NIDHI- SEED SUPPORT (SS) PROGRAM aims at providing financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization etc.

Objectives

  • The primary aim of the NIDHI-Seed Support System (NIDHI-SSP) is to guarantee the prompt availability of seed support to deserving incubatee startups. This endeavor empowers these startups to elevate their ventures to new heights, facilitating their journey towards success in the marketplace.

Broad Areas Covered Under NIDHI Seed Support Program

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

Broad Areas Not Covered Under NIDHI Seed Support Program

  • The start–ups would be not be supported primarily on the following from the seed support
  • Creation of personal assets
  • Personal benefit of promoters or their associates
  • For extending loan support to promoters or their associates
  • For making any inter corporate deposits or any speculative purpose
  • Repayment of loans or dues of promoters and their associates to the company
  • Repayment of loans from any other source or for payment of interest on the support borrowed from such other source.
  • Company/ Promoter buying shares or any other security of the company or any other company and any other areas defined by the local level committee at the Incubator level

Eligiblity Criteria

  • Startups must be a company registered in India, preferably be a DPIIT registered/applied startup and should have completed a minimum 3 months of association with the incubator in its resident or virtual incubation program.
  • Startups should have developed clarity on Unique Selling Preposition (USP) through customer validation and value proposition for its targeted customers.
  • This assistance is specifically intended for startups that are not Indian subsidiaries of multinational corporations or foreign companies. Individuals holding Overseas Citizens of India (OCI) status and Persons of Indian Origin (PIO) will be treated as Indian citizens.
  • The shareholding by Indian promoters in the incubate startup should be at least 51%.
  • Preference will be given to startups, who have not availed any funding from any Government of India /State Govt. body.

Facilities Provided