TIMED announces Seed Funding Support to its Incubatees
TIMED has been selected under National Initiative for Developing and Harnessing Innovations (NIDHI) programme conceived and developed by Department of Science & Technology, Government of India, to provide early stage funding support to its Incubatees. To avail the seed support, Incubatee should be an Indian start–up registered in India with minimum 3 months of residency at TIMED. The start–ups would be supported primarily for Product development, Testing and Trials, Test Marketing, Mentoring, Professional Consultancy, IPR issues, Manpower for day to day operations, and consequently taking their venture to next level.
Further details will be announced soon. Watch this space for updates.
For Further Clarifications
Business Development Manager
Seed Funding under the NIDHI - SSS (National Initiative for Developing and Harnessing Innovations - Seed Support System) programme conceived and developed by the Innovation & Entrepreneurship division, Department of Science & Technology, Government of India
- SCTIMST TIMed has been chosen by Department of Science & Technology (DST) as one of the Technology Business Incubator (TBI) for implementation of the NIDHI SSS.
- The NIDHI SSS at SCTIMST TIMed is managed and monitored under the control and supervision of Seed Support Management Committee (SSMC).
- The members of Seed Support Management Committee (SSMC) are as follows:- 1. Dr. Asha Kishore - Director, SCTIMST - Chairperson, SSMC 2. Dr. Anita Gupta, Nominee of NSTEDB/DST, Govt. of India 3. Mr. V. K. Girijavallabhan, Ex IA&AS, Sr DD & CFA, SCTIMST 4. Dr. H. K. Varma, Head, Biomedical Technology Wing, SCTIMST 5. Mr. S. Balram, CEO, TIMED, Member Secretary, SSMC 6. Mr. Roy Varghese, Founding member, Kerala Angels & Partner Roy Varghese and Associates, Trivandrum 7. Mr. Anand Sarma, Director, KPMG, Cochin 8. Mr. Thomas John, Managing Director, Aggappe Diagnostics Limited, Cochin 9. Mr. Binu Jacob, CEO, Experion Global Pvt Ltd, Technopark, Trivandrum
- Incubatee should be a registered company in India with minimum of three months of residency at SCTIMST TIMed.
- Incubatee has to be an Indian start-up. The seed support are not meant for Indian Subsidiaries of MNCs/foreign companies. Persons holding Overseas Citizens of India (OCI), Persons of Indian Origin (PIO) would be considered as Indian citizens for the purpose of this scheme.
- The shareholding by Indian promoters in the incubate start up should be at least 51%.
AREAS UNDER NIDHI SEED SUPPORT ASSISTANCE
- The start–ups would be supported primarily on the following areas:-
- Product development
- Testing and Trials
- Test Marketing
- Professional Consultancy
- IPR issues
- Manpower for day to day operations
- Any other area as deemed necessary and recommended by the Seed Support Management Committee.
TYPES OF FINANCIAL ASSISTANCE
There shall be primarily four types of financial assistance such as follows:-
- Debt or Soft Loan
- Any other Financial structure as approved by SSMC