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.
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.
- Total Program budget: Rs 10 Crore
- Grants up to Rs. 25 Lacs.
- No. of start-ups to be Incubated: 15 Start-ups @ 5 per annum
- Incubation Period for each start-up: 2 years extendable by 6 months
- Period of Incubation Program: 5 Years
- Start-up Domain: Deep Technology, not limited to any specific domain.
- 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.
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