Deadline: 21-Dec-21
The National Research Development Corporation (NRDC) is inviting applications from startups and early stage growth focused innovative companies for Seed Funding for Promoting Manufacturing Start-Ups under its Seed Funding Programme 2021-22.
NRDC had implemented Angel funding scheme in 2009 to promote innovations and start-ups and made few investments. The scheme is supported by DSIR, Ministry of Science and Technology, GoI under the promotional programme for nurturing ideas and innovation into successful start-ups. Considering the emerging innovation and start-up ecosystem in the country and the government of India flagship programmes like, Start-up India, Stand-up India and Make-in India, NRDC and DSIR has formulated a seed funding programme for promoting Start-ups.
The programme would work in line with the National priorities and its focus would be to build an innovation driven entrepreneurial eco system with an objective of socio-economic development through wealth and job creation. NRDC aims to nurture Start-ups through scouting, supporting and scaling of innovations based on its six decades of experience in promoting innovations/ entrepreneurship in the country.
Objectives
Early stage finance is a key to the development of new innovation and the emergence of new knowledge-based companies. The scheme aims to:
- Promote and accelerate start-ups/aspiring entrepreneurs in the country who are incubating their ideas in any state/central government funded incubators.
- Promote fruitful utilization of research works carried out in the country by various public or private financed institutions or business houses or by any other person.
- Enlarge the knowledge and technological entrepreneurial base by encouraging entrepreneurs, belonging to the first generation, so that they undertake development and commercialisation of new products or new application of existing products or new technologies or processes.
Funding Information
- Equity Participation
- Funding upto maximum of Rupees 30 Lakh
- The Corporation’s equity stake would be less than 26% of the paid up share capital of the Company
Who can be funded?
- Indian manufacturing Start-ups and early stage growth focused innovative companies (mainly engaged in development and commercialization of new products or new applications of existing products or new technologies or processes) based in Incubators in any State/Central Government supported institutions are eligible to seek seed funding from the NRDC.
- The Company should be incorporated under the Companies Act.
- The incubatee company must have been in existence for at least six months with the incubator, prior to submitting a fund request for seed funding.
- Company/Start-up should be registered with DIPP/DPIIT, Ministry of Commerce and Industry, GoI.
Which Activities can be funded?
- Fabrication, testing and trial of prototypes
- Setting-up pilot / demonstration plant including testing and trials
- Industrial product design
- Field trials (including limited market development, except as stand- alone activity)
- Phase I/II/III trials in case of pharma products,
- Setting up the first unit to demonstrate Commercial scale manufacturing using the innovative technology.
- Start-ups looking for scaling-up the on-going manufacturing facilities
- Technology sourced from public funded R&D organisation / universities for commercialization
Eligibility Criteria
- Manufacturing Start-ups/ Companies based in Incubators supported by any Central/State Government Institutions
- Should be Registered with Incubator on or before 22 June 2021
Procedure Post Submission
- The Company needs to submit the complete proposal with Business Plan
- (including presentations to the NRDC / IDC).
- An Investment and Disinvestment Committee (IDC) duly approved by the Board, shall appraise, select, invest and disinvest.
For more information, visit https://www.startupindia.gov.in/content/sih/en/ams-application/workshop.html?applicationId=61b04d05e4b099c63b56e5fd
