Deadline: 30-Apr-22
The Agribusiness Incubator (ABI) of the International Crops Research Institute for Semi-Arid Tropics (ICRISAT), Hyderabad, has invites applications from AgTech startups under the NIDHI-Seed Support Scheme (NIDHI-SSS).
NIDHI-SSS is supported by the National Science & Technology Entrepreneurship Development Board (NSTEDB), the Department of Science and Technology (DST), and the Government of India.
The objective of the NIDHI-SSS is to ensure timely availability of seed fund to deserving incubatee start-ups supported by the TBI, thereby enabling them to take their venture to next level and facilitate towards their success in the market place. The fund is meant to be used for quicker commercialization of innovative technologies/products/services and help the startups to graduate to a level where they will be able to raise follow-on investments from Angel Investors/Venture Capitalists/Commercial banks and financial institutions.
Models
ABI-ICRISAT is seeking applications from start-ups working on innovative technologies/business models in:
- Precision agriculture
- Farm mechanization
- Ag-biotechnology
- Urban farming models
- Alternate protein
- Climate change and resilient models
- Supply chain and traceability
- Agri-fintech
- Precision food & animal diagnostics
- Farm inputs
- Food technology
Under the scheme, ABI-ICRISAT will offer:
- Incubation services for business development and scaling up activities
- Access to the mentor and investor network
- Ecosystem service partner packages
Award Information
Startups selected for incubation will be evaluated as per scheme criteria to receive funding up to Rs 50 lakh.
Eligibility Criteria
- The SSS fund is available only to registered start-ups as a private limited company with a minimum of 51% ownership by Indian citizens. Under the NIDHI-SSS, a company will be a start-up as per definition given by DPIIT.
- Start-up should be incorporated as a private limited company
- Turnover should be less than INR 100 Crores in any of the previous financial years
- An entity shall be considered as a start-up up to 10 years from the date of its incorporation
- Start-up should be working towards innovation/ improvement of existing products, services and processes and should have the potential to generate employment/ create wealth.
- An entity formed by splitting up or reconstruction of an existing business shall not be considered a “Start-up”
- Support is not meant for-Indian subsidiaries of MNCs/foreign companies
- Overseas Citizens of India-OCI and Persons of Indian Origin-PIO are considered as Indian citizens for the purpose of this scheme
- Start-up which has already received NIDHI seed funding from any other incubator will not be eligible for seed fund
- Funding for capital expenditure may not be encouraged
- Funding will be disbursed only to physical resident start-ups
- Minimum 3 months physical incubation with ABI-ICRISAT at time of SSMC pitch
For more information, visit https://www.icrisat.org/icrisat-calls-for-applications-from-agtech-startups-under-nidhi-sss/