How to Fund Your Innovation


 The technology startup scene in India is vibrant and bright. Indian technology entrepreneurs are coming up with amazing ideas, and are converting those ideas into great opportunities. With the country being affected by myriad problems, it is believed by many that solutions to most of our problems will come from efforts of our young and intelligent entrepreneurs.

Various stake holders of our country including our governments have also realized this. That’s why one is noticing a tremendous increase in public money for the purpose of fostering entrepreneurship. Governmental schemes are willing to fund, either by way of grants or soft loans, entrepreneurs who have the ideas to benefit the society at large.

Unfortunately, the dissemination of information regarding the schemes still requires efforts. The information about the schemes percolates to only handful of the needy. The governmental efforts into information schematization and dissemination require improvements. For example, very few governmental websites exists covering topics related to entrepreneurs and entrepreneurship. Use of social media, such as FB, Twitter, Linkedin, and blogs, for dissemination of correct information is poor. However, the recent success of policing initiatives on social media shows that the use of this amazing medium can effectively solve problems of information dissemination. The governmental agencies need to shrug their indolence and embrace the medium for a bigger social cause.

Without diverting from the issue, the objective of this article is to acquaint our entrepreneurs with various funding schemes of the government. We have painstakingly compiled a list of governmental schemes for entrepreneur funding and support. The compilation is presented in the Table below, with the information classified into categories: Scheme Name, Government Agency running the Scheme, for what purpose the scheme has been started, and funding details.

S.No.

Scheme Name

Govt. Agency

For What?

Fund Details

Contact

1

Micro Technopreneurship Support for TePP

DSIR, MoST

Modeling/ Simulation

Rs. 75,000/- subject to 90% of approved project cost

Click Here

2

TePP Project Fund for TePP

DSIR, MoST

Prototyping/ Development

Maximum support under this category is Rs 15,00,000/- subject to 90% of approved project cost

Click Here

3

Seamless Scale-up Support for TePP

DSIR, MoST

Adding Product Features/ Value Addition on the product

Maximum support under this category is Rs. 45,00,000/- subject to a maximum 50% of approved project cost. Manpower costs supported will not exceed 20% of the total grant amount. Travel costs supported will not exceed 5% of the total grant amount

Click Here

4

 Supplementary TePP Fund for TePP

DSIR, MoST

Innovation to Market/ Patenting

Maximum support under this category is Rs 7,50,000/- subject to maximum 90% of approved project cost

Click Here

5

Seed Support Scheme

TDB, DST, MoST

Incubation

Grant upto Rs. 1 crore each over a period of upto three years

Mr. HK Mittal’s Office: Click Here

6

Funding Scheme

TDB, DST, MoST

Innovation to Commercialization

Soft Loan: Upto 50% of project cost  to be incurred at 5% simple interest. Repayment in six monthly nine installments

Mr. Y.S. Yadav: Click Here

7

TIMEIS

NSTEDB and FICCI

Entire Technology Development Cycle

Soft support, Consulting support etc

Ms. Swapna Das, Program Coordinator
Tel : 011-23721503, Fax : 011-23721504
Email : swapna.das@ficci.com

8

Technology Development & Demonstration Programme (TDDP)

DSIR, MoST

Innovation to Prototyping to Up scaling. Patenting. Consultancy Cost.

Generally limited to 50% of the eligible project cost

Head TPDU , Deptt. of Scientific and Industrial Research,
Technology Bhavan, New Mehrauli Road, New Delhi-110016
E-mail- rra@nic.in, nrfc@nic.in

9

SUPPORT FOR ENTREPRENEURIAL AND MANAGERIAL DEVELOPMENT OF SMEs THROUGH INCUBATORS

MoMSME under NMCP

Early stage funding for nurturing innovative business ideas (new indigenious technology, processes, products, procedure etc.) which could be commercialized in a year

Financial assistance between Rs. 4 lakh to Rs. 8 lakh per idea/unit.

Please click here for more details

10

MARKETING ASSISTANCE SCHEME

MoMSME in association with NSIC

Grant to take part in exhibitions for Marketing

Up to Rs 5 Lakh  support for attending domestic and International exhibitions

NSIC Toll Free No. 1800111955

11

FINANCIAL ASSISTANCE ON BAR CODE

MoMSME in association under NMCP

Reimbursement of Financial Costs incurred on implementation of BAR CODES on products

Financial assistance for reimbursement of 75% of one-time registration fee and 75% of annual recurring fee for first three years

Abhay Bakre
Tel: 01123061091 (Ext:2421)
Fax: 01123061430
Email: abhaybakre@dcmsme.gov.in

12

Building Awareness on Intellectual Property Rights

MoMSME in association under NMCP

Reimbursements on patent grants

Domestic Patent – 25,000/- grant
International Patent – 2.0 L grant
GI registration: 1 L grant

Dharmendra Prakash
(Tel): 011-23062119 (Ext: 2427)
(Fax) 011-23062241
dprakash@dcmsme.gov.in

13

Design Clinics Scheme for design expertise to Micro Small and Medium Enterprises (MSMEs) manufacturing sector

MoMSME in association under NMCP

Consultancy support to design problems

The Scheme reimburses 75% of the actual expenses to the Association subject to a ceiling of Rs.3 lacs

Coordinator
West Zone Centre
National Institute of Design
Paldi,
Ahmedabad 380 007
Phone: +91 79 26623692
Extn  1069
Fax: +91 79 26621167

14

International Travel Support Scheme

DST

Financial assistance for international travel for presenting a research paper or chairing a session or delivering a keynote address in an international scientific event (conference/seminar/symposium/workshop etc.)

 Full economy class air-fare by shortest route, airport-tax and visa fees are provided under the scheme.

Shri Praveen Kumar S
Scientist C
Department of Science & Technology
Technology Bhawan
New Mehrauli Road
New Delhi-110 016.
Tel: 011-26590353 / 26590221
Email :praveen at nic dot in
Email: pfa-dst at nic dot in

15

Drugs & Pharmaceutical Research

DST

Loan for drug research with a research institution

Loan amount upto 70% of the project cost.

Dr GJ Samathanam
Adviser & Head (TDT)
Department of Science and Technology
Technology Bhavan
New Delhi-110 016
Telefax : 011- 26862512
phone:011- 26590367
Email: samathan at nic dot in

16

Instrumentation Development Programme

DST

Funding for developing instruments

Up to Rs 35 Lakh sanctioned in recent projects, grant for technologists in academic institutions / soft loans or equity partnership with entrepreneurs

Dr GJ Samathanam
Adviser & Head (TDT)
Department of Science and Technology
Technology Bhavan
New Delhi-110 016
Telefax : 011- 26862512
phone:011- 26590367
Email: samathan at nic dot in

17

DIRECT CREDIT SCHEMES

SIDBI

Funding

SSIs and Service sector units with project cost upto Rs.25 crore

Contact SIDBI

18

COMPOSITE LOAN SCHEME (CLS)

SIDBI

Funding

Assistance for equipment and/or working capital as also for work Sheds

Contact SIDBI

19

SINGLE WINDOW SCHEME (SWS)

SIDBI

Funding

To provide both term loan for fixed assets and loan for working capital through the same agency.

Contact SIDBI

20

Small Business Innovation Research Initiative (SBIRI)
for Public Private Partnership

Department of Biotechnology

Early stage funding/loaning for biotech/pharma entrepreneurs and later loaning support for commercialization

Upto Rs 10 Crore, upto Rs 50 Lakh as grant and rest as soft loan

Dr. (Mrs.) Suchita Ninawe, Scientist ‘F’, Department of Biotechnology,
Ministry of Science & Technology, CGO Complex,
Block – 2, 6-8th floors, Lodi Road, New Delhi-110 003.
Email: sninawe@dbt.nic.in

21

Angel Funding by NRDC

NRDC

Angel Funding

Rs 10 Lakh to Rs 30 Lakh

Click Here

22

The Invention Promotion Programme

NRDC

Funding for technology development, IPR and commercialization

Upto 2 lakh

Click Here

About Us

We are an emerging Intellectual Property (IP) service company that specializes in serving the IP needs of inventors, technology entrepreneurs and business owners by protecting inventions, designs, trademarks, copyrights, trade secrets, and other valuable intellectual property assets. We also work closely in association with foreign IP attorneys, who help us in securing our client’s IP in their respective jurisdictions at an affordable cost. We strongly believe in providing service to all, irrespective of their size. We encourage academics, individual scientists and entrepreneurs who are starting from scratch, to approach us. We understand the constraint and limitations of each client and customize our fee structure accordingly.

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