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Government supportedfunding schemes for

startupsA.Balachandran

General Manager

VIT-Technology Business Incubator (VITTBI)

www.vittbi.com 

vittbi@vit.ac.in

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About VITTBIJoint initiative between VIT and DST

Established in the year 2003

Supported over 25 start ups

Holistic business incubation model coveringtechnology development , product developmentand testing, business development, access tomarket and access to finance

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About VITTBIVITTBI’s support services include individualoffice space to the entrepreneur, shared office

services, Product Development and Testingsupport, access to various campus facilities,seed funding, assistance to raise funding,assistance to raise innovation grant and so on.

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Funding Assistance to

EntrepreneursAssumption:

Scope of this presentation covers early stagefunding needs of start ups

Issues and ChallengesLack of many early stage funding mechanismsIdea Vs AssetsLack of Experience on the part of entrepreneurs

Lack of empathy or reluctance in the traditionalfunding mechanismsRisk

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Funding Assistance for

Innovative ideas

Proof of Concept / Prototyping fund:TePP Program of DSIRMicro TePP and TePP Project FundingRs.75,000 to Rs.15 LakhsProcess  – TePP Outreach centers

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Funding Assistance for

technologycommercialisation

Phase-II TePP Program of DSIRUp to Rs.45 Lakhs for starting a venture / Rs.7.5Lakhs for commercialisationProcess

-----------TIFAC TREMAP scheme through TechnologyCommercialisation Facilitation Agencies (TCFAs)-Process

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Funding Assistance for

a new innovativeventure

Support for Entrepreneurial and ManagerialDevelopment:

MSME Incubator schemeRs.6.25 Lakhs to Rs.8.00 LakhsProcessMSME supported incubators

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Funding Assistance forincubatee companies

Seed Fund Support from Business Incubators:

Technology Development Board supportedseed fund Scheme

DST-NSTEDB supported seed fund schemeDIT-TIDE scheme

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TechnologicalAssistance

to EntrepreneursProduct DevelopmentTesting

Pilot testing / Beta TestingLaunchDesignPackagingStabilization / mass productionServices

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Technological Assistance

to EntrepreneursInstitutes of reputeTechnology Business Incubators- Sectoral

focus / common facility centersNSICICAR /CSIR /DRDO / ISRO / TIFAC COREsMentoring

ConsultingTurnkey solutions

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Thank You