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The Entrepreneurship Development Center (‘Venture Center’ ) recently received approval under the scheme "Seed Support System for Start-ups in Incubators" of the National Science & Technology Entrepreneurship Development Board (NSTEDB), Department of Science & Technology to host a seed fund with a corpus of Rs 2 crore.

The Seed Support is for incubatees (physical resident units within STEP/TBI). The funds are meant for early stage funding for indigenous ideas and technologies requiring up-scaling and related work.

Incubatees of Venture Center are encouraged to contact Venture Center for further information.

Quantum of financial assistance to the incubated entrepreneur

• Minimum: Rs. 2 lakh
• Maximum: Rs. 50 lakhs

The disbursement is normally linked to benchmarks / milestones. Broad Areas to be covered under the financial assistance include:

• Product development
• Testing and trials
• Test Marketing
• Mentoring
• Professional Consultancy ( To attract Professors of institutions to work with small firms)
• IPR issues
• Man power for day to day operations
• Any other area as deemed necessary and recommended by the Management Committee.

Business Plan Templates

• Sample business plans
• Business Plan and Competitions in India
• Virtual Ink (Source)
• The Nuts and Bolts of Business Plans (Source)
• Entrepreneurship 3: Business Plans (Source)

Status of NSTEDB seed fund at Venture Center

Venture Center is currently putting in place the necessary processes for the NSTEDB seed fund. Please check back in October 2011.

For more information, please contact managertechrx@venturecenter.co.in