FUNDING OPPORTUNITIES FOR STARTUPS

IIT Mandi Catalyst provides funding to startups through multiple funding schemes. These schemes compliment the engagement structure of the incubation program. To avail funding under any of these schemes, a startup has to be part of our residential incubation program.

Funding Opportunities for Startups

Instituted by IIT Mandi, the fund is meant for idea stage startups that join the incubation program. A maximum support of INR 1.5 Lakhs is made available for the purpose of market research and prototyping.

Purpose: Idea Validation and Prototyping
Funding Agency: IIT Mandi
Maximum Funding per startup: INR 1.5 Lacs

Startups incubated at Catalyst have an opportunity to avail a monthly sustenance allowance from the HP Center for Entrepreneurship Development. A startup has to have a ready prototype to avail this funding. Maximum duration of the scheme is one year. The disbursement is subject to the HPCM Startup Policy.

Purpose: Sustenance
Funding Agency: HPCED
Maximum Funding per startup: INR 3 Lacs (25,000 per month for one year)

Sponsored by The Ministry of Electronics and Information Technology, TIDE 2.0 makes available funding support for startups engaged in ideas related to electronics and communication solutions. The startups are expected to utilize the funds for prototyping.

Purpose: Prototyping
Funding Agency: MEITY
Maximum Funding per startup: INR 7 Lacs

IIT Mandi Catalyst: Call for application for TIDE 2.0 Scheme

Catalyst invites applications for ideation & prototype level projects under the Tide 2.0 scheme of the MeitY, GoI. The TIDE 2.0 scheme envisages provisioning support to tech startups during the entire journey from idea-to-market. The period of prototyping support can be up to 12 months.

Objectives of Tide 2.0 Scheme

  • Fostering and evangelizing a vibrant entrepreneurship ecosystem that inspires budding entrepreneurs as well as support existing ones.

  • Creating entrepreneurship models of both financial as well as a social value.

  • Provide holistic incubation support including co-working space, mentoring, and networking for startups.

  • The financial support for startups will be provided to Facilitate IPR filings.

  • Year-Round Engagement Programs- Low & Deep Engagement Programs, Challenge Grants, Hackathons, IPR Sensitization and an Annual Global Startup Event.

  • Providing robust Corporate-Start-up Business Connect Platform for startups.

About MeitY

To promote e-Governance for empowering citizens, promoting the inclusive and sustainable growth of the Electronics, IT & ITeS industries, enhancing India’s role in Internet Governance, adopting a multipronged approach that includes the development of human resources, promoting R&D and innovation, enhancing efficiency through digital services and ensuring secure cyberspace.

About Tide 2.0

Technology Incubation and Development of Entrepreneurship (TIDE 2.0) is a scheme for handholding close to 2000 Technology Startups addressing societal challenges in seven selected thematic areas identified based on national priorities. The seven areas of national concern have been identified as Healthcare, Education, Agriculture, Financial inclusion including digital payments, Infrastructure and transportation, Environment and cleantech, clean energy, and other emerging ICT based areas. 

Tide 2.0 GRANT

The program mainly targets a valid PoC to be transformed to prototype or a Minimum Viable Product (MVP) by providing ample opportunities and support in terms of product development assistance, access to technical experts, mentoring, infrastructure and administrative support. Hence, the program bridges the gap between idea and prototype funding.

Eligibility Criteria:

  • The applicant should be a citizen of India.

  • The idea should fall within the listed focus areas.

  • The start-up should have a definite proof of concept which is to be further developed into a prototype or Minimum Viable Products (MVP)

Financial Support:

GRANT of upto ₹ 7 Lakh per start-up for one year may be provided.

 

Click here to Apply

Last Date to Apply: August 3, 2020

 

Sponsored by NSTEDB, DST, this scheme has a provision of a grant of upto INR 10 Lakhs for the purpose of prototype development. The scheme is available to the hardware startups who are physical incubatees at Catalyst.

Purpose: Prototyping
Funding Agency: NSTEDB, DST
Maximum Funding per startup: INR 10 Lacs

IIT Mandi Catalyst: Call for application for NIDHI PRAYAS

Catalyst invites applications for prototype level projects under the NIDHI-PRAYAS scheme of the NSTEDB, DST. This grant will be utilized by young and aspiring innovators to convert their ideas into a prototype. The period of prototyping support can be up to 18 months.

Objectives of NIDHI-PRAYAS:

To enable the translation of an innovative idea to a prototype.
To support faster experimentation and the idea to market journey.
To generate innovative solutions relevant to local and global problems.
To attract a large number of youth who demonstrates problem-solving zeal and abilities
To work on their new technology/knowledge/innovation-based startups.
To build a vibrant innovation ecosystem, by establishing a network between innovators, academia, mentors, and incubators.

Why should startups apply?

  • To translate an innovative idea to a prototype.
  • To get a platform for faster experimentation and modification in approach
  • To generate innovative solutions relevant to local and global problems
  • Access to infrastructure and prototype building facility and mentorship
  • The prayasee can get a prototype grant limited to a maximum of Rs 10.00 lakhs for making the prototype of the innovative idea.

Background on Nidhi-Prayas Scheme

National Initiative for Developing and Harnessing Innovations (NIDHI) is an umbrella program conceived and developed by the Innovation and Entrepreneurship division, Department of Science & Technology, Government of India, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups.

The NIDHI-Promotion and Acceleration of Young and Aspiring technology entrepreneurs (NIDHI-PRAYAS) program, is one of the programs introduced under NIDHI, focuses on addressing the idea to prototype funding gap. This is a program designed to attract a large number of youngsters to come forward to try out their ideas and try to see if they will work in real-life business situations. If selected, such selected applicants are referred to as PRAYASEE’s.

PRAYAS Centre:

The NIDHI-PRAYAS grant would be handled by IIT Mandi Catalyst in its capacity of a PRAYAS CENTRE (PC). The PC would be a place where innovative ideas are supported through physical infrastructure, technical guidance, business mentorship and a prototype grant for converting the idea into a prototype. A furnished and well-equipped space has been set up at Catalyst as the host TBI. The innovators would approach Catalyst for seeking support under the program.

This grant, therefore, will primarily be utilized by the innovators to convert their ideas into a prototype. It cannot, however, be used for supporting:

  • Innovators / Startup who do not / will not own the Project know-how/ IP
  • Funding research/student internship in Academic institution or R&D organization
  • Innovators / Team/ Startup who is already supported once under NIDHI PRAYAS
  • Innovators who do not have the necessary NOC on IP, granting sufficient time to work on PRAYAS project from their respective organization/institution
  • Innovator supported under NIDHI-EIR in parallel with NIDHI-PRAYAS
  • Innovators who do not have a roadmap/will towards commercialization

The eligibility criteria for the applicants for PRAYAS program are as follows :

1. Any individual applying for PRAYAS has to be an Indian Citizen with a government-approved proof of nationality such as a valid passport, voter’s id, etc. The applicant should be in the age group of a minimum of 18 years, as on the date of application.

2. Individual Innovator OR Team of Innovators: –

The innovator should have the know-how of the PRAYAS project. For the team of innovators, there has to be –

            a. an agreement among the team about the lead innovator who would apply and the funds will be transferred to the lead innovator’s account                     (after selection).
            b. IP generated would vest with the innovator/team and it would be further taken for commercialization

3. In the case of Founders, Co-founders of Start-up applying for PRAYAS:-

           a. At the time of application, the period of existence of a start-up and its operations should not exceed 7 years from the Date of Incorporation,
           b. Wants to develop the prototype for a new product, for which they may have not received a similar kind of support.
           c. The company should have an annual turnover not exceeding Rs. 25 lakhs for any of the financial years since its inception
           d. IP generated would vest with the start-up

4. Innovators in employment OR Students with any R&D organization/Academic Institution:-
           a. It is mandatory that the innovators pursuing PRAYAS should have the Project know-how and own the IP.
           b. The innovator has to seek the NOC from their organization/institution. The NOC should have the following
                I. Permission to apply for PRAYAS and the innovator will be granted sufficient time to work on the PRAYAS project,
                II. IP generated would vest with the innovator/team and it would be further taken for commercialization

5. The priority areas for supporting innovations under the NIDHI PRAYAS program are manufacturing, agriculture, healthcare, clean-tech, energy, water, and the Internet of Things (IoT) and other technology areas.

6. The projects relating to pure software/ App development and those involving pure academic research are not eligible.

7. Preference may be given to those innovators

  • Who have bootstrapped or have got co-investment commitment.
  • Who has a clear road map for commercialization or start-up creation
  • Women innovators
  • Young innovators

8. The NIDHI-PRAYAS grantee should be registered for the pre-incubation or incubation program at the TBI for the entire duration of the program, after going through the TBI’s selection process.

9. NIDHI-PRAYAS grantee should be fully committed to work towards the prototype development for which the support is being sought and should not treat this as a stop-gap arrangement to support any other pursuits.

10. The innovator can avail the NIDHI-PRAYAS support only once and they should not have sought the similar support previously, from other Government of India organization / Institution for the same innovative concept as proposed in the application form.

Guidelines for Use of funds by the PRAYASEE

Can be used for

  • Outsourcing Charges for R&D/ Design Engg/ Consultancy/ Testing/ Expert cost
  • Raw material/ Consumables/ Spares
  • Fabrication / Synthesis charges of a working model or process
  • Business Travel and Event participation Fees (Ceiling 10% of approved project cost)
  • Patent filing Cost – (PCT – Ceiling 10% of approved project cost)
  • Contingency – (Ceiling 10% of approved project cost)

Cannot be used for

  • To pay the grantee/relatives.
  • To pay usage charges to the TBI*
  • To repay loans/ commitments made earlier.
  • To pay rent of own accommodation, the creation of infrastructure facilities like a shed, etc should not form the component of support/funds.

* Subject to conditions of PC- IIT Mandi Catalyst

The outcome of innovators project supported should be of any of the following:

  • Should have the working prototype within 18 months
  • Progress towards IP filing, commercialization in form of licensing or Startup
  • Funding / Investment received
  • Expression of interest from manufacturers

Click here to Apply

Last Date to Apply: August 3, 2020

Sponsored by NSTEDB, DST, this scheme has a provision of seed funding of upto INR 50 Lakhs for startups. The funding is meant for product development and commercialization purposes.

Purpose: Product Development and Commercialization
Funding Agency: NSTEDB, DST
Maximum Funding per startup: INR 50 Lacs

Sponsored by HPCED, the scheme provides a matching grant of INR 10 Lakhs towards commercialization expenses. Under the scheme, HPCED provides an amount equal to the funding provided by Catalyst, subject to a maximum INR 10 Lakhs.

Purpose: Commercialization
Funding Agency: HPCED
Maximum Funding per startup: INR 10 Lacs

Instituted by IIT Mandi, the fund is meant for idea stage startups that join the incubation program. A maximum support of INR 1.5 Lakhs is made available for the purpose of market research and prototyping.

Purpose: Idea Validation and Prototyping

Funding Agency: IIT Mandi

Maximum Funding per startup: INR 1.5 Lacs

Startups incubated at Catalyst have an opportunity to avail a monthly sustenance allowance from the HP Center for Entrepreneurship Development. A startup has to have a ready prototype to avail this funding. Maximum duration of the scheme is one year. The disbursement is subject to the HPCM Startup Policy.

Purpose: Sustenance

Funding Agency: HPCED

Maximum Funding per startup: INR 3 Lacs (25,000 per month for one year)

Sponsored by The Ministry of Electronics and Information Technology, TIDE 2.0 makes available funding support for startups engaged in ideas related to electronics and communication solutions. The startups are expected to utilize the funds for prototyping.

Purpose: Prototyping

Funding Agency: MEITY

Maximum Funding per startup: INR 7 Lacs

Apply for EIR or GRANT opportunities

IIT Mandi Catalyst: Call for application for TIDE 2.0 Scheme

Catalyst invites applications for ideation & prototype level projects under the Tide 2.0 scheme of the MeitY, GoI. The TIDE 2.0 scheme envisages provisioning support to tech startups during the entire journey from idea-to-market. Financial support in the form of Entrepreneur-in-Residence [EIR] and Grants are to be provided to startups. The period of prototyping support can be up to 12 months.

Objectives of Tide 2.0 Scheme

  • Fostering and evangelizing a vibrant entrepreneurship ecosystem that inspires budding entrepreneurs as well as support existing ones.

  • Creating entrepreneurship models of both financial as well as a social value.

  • Provide holistic incubation support including co-working space, mentoring, and networking for startups.

  • The financial support for startups will be provided to Facilitate IPR filings.

  • Year-Round Engagement Programs- Low & Deep Engagement Programs, Challenge Grants, Hackathons, IPR Sensitization and an Annual Global Startup Event.

  • Providing robust Corporate-Start-up Business Connect Platform for startups.

About MeitY

To promote e-Governance for empowering citizens, promoting the inclusive and sustainable growth of the Electronics, IT & ITeS industries, enhancing India’s role in Internet Governance, adopting a multipronged approach that includes the development of human resources, promoting R&D and innovation, enhancing efficiency through digital services and ensuring secure cyberspace.

About Tide 2.0

Technology Incubation and Development of Entrepreneurship (TIDE 2.0) is a scheme for handholding close to 2000 Technology Startups addressing societal challenges in seven selected thematic areas identified based on national priorities. The seven areas of national concern have been identified as Healthcare, Education, Agriculture, Financial inclusion including digital payments, Infrastructure and transportation, Environment and cleantech, clean energy, and other emerging ICT based areas. 

TIDE 2.0 EIR 

The main objective of the program is to nurture the students & startup’s innovation by validation and development of their idea. The program provides a support platform for the aspiring entrepreneurs to develop their innovation through a technology enabling environment having access to a fellowship grant of 4 lakhs, networks, technical mentoring, infrastructure and administrative support.

Eligibility Criteria:

  • The applicant should be a citizen of India.

  • The idea should fall within the listed focus areas.

  • The applicant shouldn’t have a source of income.

  • Should be committed to exploring a business idea.

  • The applicant should not be the promoter or shareholders/beneficiary of another company.

Financial Support:

2 EIR fellowships of upto ₹ 4 Lakh per start-up for one year may be provided to any applicant having an idea, who then starts working for validation and development of an idea.

Tide 2.0 GRANT

The program mainly targets a valid PoC to be transformed to prototype or a Minimum Viable Product (MVP) by providing ample opportunities and support in terms of product development assistance, access to technical experts, mentoring, infrastructure and administrative support. Hence, the program provides facilities for the development of PoC/ready product thus bridging the gap between idea and prototype funding.

Eligibility Criteria:

  • The applicant should be a citizen of India.

  • The idea should fall within the listed focus areas.

  • The start-up should have a definite proof of concept which is to be further developed into Minimum Viable Products (MVP), or have an MVP which needs further support for commercialization.

Financial Support:

2 GRANT of upto ₹ 7 Lakh per start-up for one year may be provided.

Click here to Apply

Last Date to Apply: 15 June 2020

Sponsored by NSTEDB, DST, this scheme has a provision of a grant of upto INR 10 Lakhs for the purpose of prototype development. The scheme is available to the hardware startups who are physical incubatees at Catalyst.

Purpose: Prototyping

Funding Agency: NSTEDB, DST

Maximum Funding per startup: INR 10 Lacs

IIT Mandi Catalyst: Call for application for NIDHI PRAYAS

Catalyst invites applications for prototype level projects under the NIDHI-PRAYAS scheme of the NSTEDB, DST. This grant will be utilized by young and aspiring innovators to convert their ideas into a prototype. The period of prototyping support can be up to 18 months.
Objectives of NIDHI-PRAYAS:

To enable the translation of an innovative idea to a prototype.
To support faster experimentation and the idea to market journey.
To generate innovative solutions relevant to local and global problems.
To attract a large number of youth who demonstrates problem-solving zeal and abilities
To work on their new technology/knowledge/innovation-based startups.
To build a vibrant innovation ecosystem, by establishing a network between innovators, academia, mentors, and incubators.

Why should startups apply?

  • To translate an innovative idea to a prototype.
  • To get a platform for faster experimentation and modification in approach
  • To generate innovative solutions relevant to local and global problems
  • Access to infrastructure and prototype building facility and mentorship
  • The prayasee can get a prototype grant limited to a maximum of Rs 10.00 lakhs for making the prototype of the innovative idea.

Background on Nidhi-Prayas Scheme

National Initiative for Developing and Harnessing Innovations (NIDHI) is an umbrella program conceived and developed by the Innovation and Entrepreneurship division, Department of Science & Technology, Government of India, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups.

The NIDHI-Promotion and Acceleration of Young and Aspiring technology entrepreneurs (NIDHI-PRAYAS) program, is one of the programs introduced under NIDHI, focuses on addressing the idea to prototype funding gap. This is a program designed to attract a large number of youngsters to come forward to try out their ideas and try to see if they will work in real-life business situations. If selected, such selected applicants are referred to as PRAYASEE’s.

PRAYAS Centre:

The NIDHI-PRAYAS grant would be handled by IIT Mandi Catalyst in its capacity of a PRAYAS CENTRE (PC). The PC would be a place where innovative ideas are supported through physical infrastructure, technical guidance, business mentorship and a prototype grant for converting the idea into a prototype. A furnished and well-equipped space has been set up at Catalyst as the host TBI. The innovators would approach Catalyst for seeking support under the program.

This grant, therefore, will primarily be utilized by the innovators to convert their ideas into a prototype. It cannot, however, be used for supporting:

  • Innovators / Startup who do not / will not own the Project know-how/ IP
  • Funding research/student internship in Academic institution or R&D organization
  • Innovators / Team/ Startup who is already supported once under NIDHI PRAYAS
  • Innovators who do not have the necessary NOC on IP, granting sufficient time to work on PRAYAS project from their respective organization/institution
  • Innovator supported under NIDHI-EIR in parallel with NIDHI-PRAYAS
  • Innovators who do not have a roadmap/will towards commercialization

The eligibility criteria for the applicants for PRAYAS program are as follows :

Any individual applying for PRAYAS has to be an Indian Citizen with a government-approved proof of nationality such as a valid passport, voter’s id, etc. The applicant should be in the age group of a minimum of 18 years, as on the date of application.

2. Individual Innovator OR Team of Innovators: –

The innovator should have the know-how of the PRAYAS project. For the team of innovators, there has to be –

a. an agreement among the team about the lead innovator who would apply and the funds will be transferred to the lead innovator’s account (after selection)
b. IP generated would vest with the innovator/team and it would be further taken for commercialization

3. In the case of Founders, Co-founders of Start-up applying for PRAYAS:-

a. At the time of application, the period of existence of a start-up and its operations should not exceed 7 years from the Date of Incorporation,
b. Wants to develop the prototype for a new product, for which they may have not received a similar kind of support.
c. The company should have an annual turnover not exceeding Rs. 25 lakhs for any of the financial years since its inception
d. IP generated would vest with the start-up

4. Innovators in employment OR Students with any R&D organization/Academic Institution:-
a. It is mandatory that the innovators pursuing PRAYAS should have the Project know-how and own the IP.
b. The innovator has to seek the NOC from their organization/institution. The NOC should have the following
            I. Permission to apply for PRAYAS and the innovator will be granted sufficient time to work on the PRAYAS project,
          II. IP generated would vest with the innovator/team and it would be further taken for commercialization

5. The priority areas for supporting innovations under the NIDHI PRAYAS program are manufacturing, agriculture, healthcare, clean-tech, energy, water, and the Internet of Things (IoT) and other technology areas.

6. The projects relating to pure software/ App development and those involving pure academic research are not eligible.

7. Preference may be given to those innovators

  • Who have bootstrapped or have got co-investment commitment.
  • Who has a clear road map for commercialization or start-up creation
  • Women innovators
  • Young innovators

8. The NIDHI-PRAYAS grantee should be registered for the pre-incubation or incubation program at the TBI for the entire duration of the program, after going through the TBI’s selection process.

9. NIDHI-PRAYAS grantee should be fully committed to work towards the prototype development for which the support is being sought and should not treat this as a stop-gap arrangement to support any other pursuits.

10. The innovator can avail the NIDHI-PRAYAS support only once and they should not have sought the similar support previously, from other Government of India organization / Institution for the same innovative concept as proposed in the application form.

Guidelines for Use of funds by the PRAYASEE

Can be used for

  • Outsourcing Charges for R&D/ Design Engg/ Consultancy/ Testing/ Expert cost
  • Raw material/ Consumables/ Spares
  • Fabrication / Synthesis charges of a working model or process
  • Business Travel and Event participation Fees (Ceiling 10% of approved project cost)
  • Patent filing Cost – (PCT – Ceiling 10% of approved project cost)
  • Contingency – (Ceiling 10% of approved project cost)

Cannot be used for

  • To pay the grantee/relatives.
  • To pay usage charges to the TBI*
  • To repay loans/ commitments made earlier.
  • To pay rent of own accommodation, the creation of infrastructure facilities like a shed, etc should not form the component of support/funds.

* Subject to conditions of PC- IIT Mandi Catalyst

The outcome of innovators project supported should be of any of the following:

  • Should have the working prototype within 18 months
  • Progress towards IP filing, commercialization in form of licensing or Startup
  • Funding / Investment received
  • Expression of interest from manufacturers

Click here to Apply

Last Date to Apply: 15 June 2020

Sponsored by NSTEDB, DST, this scheme has a provision of seed funding of upto INR 50 Lakhs for startups. The funding is meant for product development and commercialization purposes.

Purpose: Product Development and Commercialization

Funding Agency: NSTEDB, DST

Maximum Funding per startup: INR 50 Lacs

Sponsored by HPCED, the scheme provides a matching grant of INR 10 Lakhs towards commercialization expenses. Under the scheme, HPCED provides an amount equal to the funding provided by Catalyst, subject to a maximum INR 10 Lakhs.

Purpose: Commercialization

Funding Agency: HPCED

Maximum Funding per startup: INR 10 Lacs