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.
The program will focus on supporting ideas to solving problems related to human-computer interfaces across domains. These domains may include, but not limited to, environment, healthcare, information technology (IT), and defense and security, which form important sectors of the Indian economy. In this program different stages start-up will be supported by different schemes such as CPS-PRAYAS, CPS-Seed Support Scheme and CPS-EIR.
CPS-PRAYAS program is focussed on Idea-to-prototyping journey of young startups/innovators. The individuals’ innovators or startups that are in the idea-prototype stage can benefit from this scheme with a maximum grant of INR 6 Lakhs and access to IIT Mandi campus. The duration of the engagement can range from 6-18 months.
CPS-Seed Support Scheme program is focussed on the commercialization of products developed by startups under the incubation program. Startup registered private company and completed a minimum of three months incubation period at the TBI can get support upto 50 Lakh as soft loan or against equity or a combination of both.
CPS-EIR is aimed at inspiring the best talents to be entrepreneurs, minimise the risk involved in pursuing start-ups, and to partially set off the opportunity costs of high paying jobs. EIR support recipients are expected to pursue their entrepreneurial aspirations full time. The maximum duration of the program is one year during which monthly financial support up to Rs. 30,000 for a period of 12 month will be provided to recipient along with access to IIT Mandi’s innovation and entrepreneurship ecosystem. iHub EIR programme provides tremendous opportunities for innovative entrepreneurs to expand their networks and get critical feedback on their ventures in order to promote their entrepreneurial career goals and aspirations.
Funding Agency: iHub and HCI Foundation.
Maximum Funding per startup :-
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.
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.
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.
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.
- 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)
GRANT of upto ₹ 7 Lakh per start-up for one year may be provided.
Last Date for submission of application: Application Closed
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.
- 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
- 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
- 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)
- 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.
- 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
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