The Program NIDHI would help the startups with initial funding and hence would be called Startup-NIDHI. Startup-NIDHI aims to support 20 student startups in each year financially.
The startups essentailly have to be student ups and should be a student start up of IEDC/NewGen IEDC. Startup NIDHI would financially support each of the selected startups with Rs. 10 lakhs which will given as ignition grant/award.
The Entrepreneurship Development Center (Venture Center) is hosting a seed fund with a corpus of Rs 10 crore under the scheme ” National Initiative for Developing and Harnessing Innovations – Seed Support System (NIDHI-SSS)” of the Department of Science and Technology.
The basic idea of NIDHI seed support is providing financial assistance to potential startups with promising ideas, innovations and technologies. This would enable some of these incubatee startups with innovative ideas/technologies to graduate to a level where they will be able to raise investments from angel/Venture capitalist or they will reach a position to seek loans from commercial banks /financial institutions. Thus the proposed seed support disbursed by an incubator to an incubatee is positioned to act as a bridge between development and commercialization of innovative technologies/products/services in a relatively hassle free manner.