DST-NSTEDB Seed Support Program

Salient Features of the Seed Support by NSTEDB, Department of Science & Technology (DST)

While the STEPs/TBIs are able to support the “Space, Services, and Knowledge” requirements of startups, a wide gap exists in financial support required by a technology-driven start-up in the initial phase which is not being appropriately addressed. The basic idea of seed support is providing financial assistance to startups with new and meritorious ideas, innovations, and technologies. This would enable some of these innovative ideas/technologies to graduate to a level where they will be able to raise investments from angel/Venture capitalists or reach a position to seek loans from commercial banks /financial institutions. Thus the proposed seed support is positioned to act as a bridge between the development and commercialization of innovative technologies/products/services.

Eligibility Conditions for Incubatee Start-Ups for seed support

  • Incubatee should be a registered company with a minimum of three months of residency at the TBI.
  • Incubatee has to be an Indian start-up. This support is not meant for Indian Subsidiaries of MNCs/foreign companies. Persons holding Overseas Citizens of India (OCI), Persons of Indian Origin (PIO) would be considered Indian citizens for the purpose of this scheme.
  • The share holding by Indian promoters in the incubate start-up should be at least 51%.

Broad Areas and Items to be covered under the Seed Support Assistance

The start-ups would be supported primarily on the following from seed support

  • Product development
  • Testing and Trials
  • Test Marketing
  • Mentoring
  • Professional Consultancy ( To attract professors/experts from institutions to work with start-ups.)
  • IPR issues
  • Manpower for day-to-day operations
  • Any other area as deemed necessary and recommended by the Seed Support
  • Management Committee of TBI/STEP

List of Startups of IIMCIP who have received Seed Funding through  DST-NSTEDB