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Call for Proposals: Deep Tech Business Ideas/ Prototypes by IIT Hyderabad [Grants Upto Rs. 25L]: Apply by Aug 3

Call for Proposals: Deep Tech Business Ideas/ Prototypes by IIT Hyderabad [Grants Upto Rs. 25L]: Apply by Aug 3

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Applications are now invited from bright and ambitious candidates for the Joint Incubation Program between NMDC (A Government of India Enterprise) and i-TIC Foundation at IIT Hyderabad.

NMDC and i-TIC Foundation IIT Hyderabad signed an agreement to support start-ups through a collaborative joint incubation program, NMDC Innovation & Incubation Centre [NICE]. This is consistent with the flagship initiative of the Government of India-“Startup India”, intended to build a strong ecosystem that is conducive for the growth of start-up businesses, to drive sustainable economic growth and generate employment opportunities.

Objectives

NMDC in partnership with i-TIC Foundation, IIT Hyderabad will establish the start-up ecosystem in the premises of IIT Hyderabad with a focus to foster, nurture and incubate start-up companies with new and innovative ideas in deep technology. NMDC would contribute tentatively Rs. 10 Crore for the five-year joint incubation program, and intends to support at least 15 start-ups. The objective of NICE is to promote the spirit of Innovation and Entrepreneurship in the country.

Highlights
  1. Total Program budget: Rs 10 Crore
  2. Grants up to Rs. 25 Lacs.
  3. No. of start-ups to be Incubated: 15 Start-ups @ 5 per annum
  4. Incubation Period for each start-up: 2 years extendable by 6 months
  5. Period of Incubation Program: 5 Years
  6. Start-up Domain: Deep Technology, not limited to any specific domain.
Eligibility Criteria
  • The candidate should be a citizen of India.
  • Minimum 18 years of age.
  • The major stakeholder should be below 35 years of age.
  • Graduation Degree, preferably Engineering or Science
  • Individuals or Startup companies may apply.
  • Definite proof of concept required
  • Preference will be given to candidates having their own IP.
How to Apply?

Interested candidates can apply online by clicking here. The last date to apply is August 3, 2020.

Contact

Email ID: itic@iith.ac.in

For full notification, click the link below.

Call for Proposals: Deep Tech Business Ideas/ Prototypes by IIT Hyderabad

 

 

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