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Department of Science & Technology, Government of India

Technology Development Board (TDB) - Seed Support System

The Entrepreneurship Development Center (‘Venture Center’ ) recently received approval under the scheme "Seed Support System for Start-ups in Incubators" of the Technology Development Board, Department of Science & Technology to host a seed fund with a corpus of Rs 1 crore.

The purpose of the seed fund is to provide a technology driven startup with the much-needed early stage financial support for deserving ideas/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. 1 lakh
  • Maximum: Rs. 15 lakhs

Broad Areas to be covered under the financial assistance include:

  • Product development
  • Testing and trials
  • Test Marketing
  • Mentoring
  • Professional consultancy to engage Professors / experts with small firms
  • Filing of Indian/International patents
  • Man power for day to day operations
  • Any other area as deemed necessary and recommended by the Management Committee.

The Seed fund emphasizes:

  • Alignment with Venture Center's Focus areas
  • Product offering's (Vs Service offerings)
  • IP-rich enterprises
  • Strong knowledge components in enterprises

The seed fund is only for

  • Companies with minimum 51% ownership by Indian nationals
  • Companies ready to be incubated at Ventuer Center

Here is a list of make/break criteria for applicants:

  • There must be at-least one dedicated entrepreneur involved in the venture
  • There must be a formal business plan
  • The venture and the team must have high ethical & professional standards
  • The venture must have a strong technology/knowledge component
  • EHS requirements must be met
  • Key Proof-of-Concept must be demonstrated & must be reproducible
  • The venture must be registered as a private limited company, or must be in the process of registration
  • The amount of funding requested must be less than Rs 15 lakh
  • The entrepreneur(s) must be willing to share equity in the venture
  • The seed funds requested must be for activities such as product development, prototyping, scale-up, developing IP portfolio, test marketing, trials, certification, testing

Applications for the seed fund will be reviewed based on criteria such as (but not limited to):

  • Is amount of funding requested enough to reach critical milestone?
  • Does the venture have a clear, potentially significant/singular value proposition
  • How big/fast growing is the potential market?
  • Are target customers clearly identified?
  • How credible is the technology? (Is PoC credible in the opinion of subject-matter experts?)
  • Are there regulatory/certification/policy risks?
  • What are the sources of sustainable competitive advantage (eg. novelty, patentability, etc.)?
  • What is the quality of the business plan (revenue model, product roadmap, market segments, etc.)?

Typical terms for seed funding:

  • Investment mode: Equity ownership in a private limited company
  • Equity stake for seed fund: Up to 20%
  • Investment amount: Rs 1 lakh - 15 lakh
  • BoD representation: 1 BoD seat or 1 BoD observer, with special rights
  • Promoter/founder stakes: Vesting requirements
  • Reporting: Bi-annual presentation to seed committee + Quarterly/annual financials

Application form can be downloaded here.

Business Plan Templates

History of TDB seed fund at Venture Center

Round 1
  • Deadline for application: March 15, 2010
  • Committee meeting: April 16, 2010
  • Number of proposals presented: 2
  • Number of proposals recommended for funding: 0
Round 2
  • Deadline for application: October 15, 2010
  • Committee meeting: October 25, 2010
  • Number of proposals presented: 3
  • Number of proposals recommended for funding: 2
  • Investments made: Shantani Proteome Analytics, Shashwat Oorja
Round 3
  • Deadline for application: August 15, 2011
  • Number of proposals received: 2
  • Number of proposals recommended for funding: 0
Round 4
  • Deadline for application: November 30, 2011
  • Committee meeting: January 14, 2012
  • Number of proposals received: 3
  • Number of proposals presented: 1
  • Number of proposals recommended for funding: 1
  • Investments made: Seagull BioSolutions
Round 5
  • Deadline for application: October 15, 2012
  • Number of proposals received: 16
  • Number of proposals recommended for funding: 0
Round 6
  • Deadline for application: 20th May 2013
  • Number of proposals received: 6
  • Number of proposals recommended for TDB funding: 0
  • Number of proposals recommended for other funding: 2
Round 7
  • Deadline for application: 5th Feb 2014
  • Number of proposals received: 2
  • Number of proposals recommended for TDB funding: 0
  • Number of proposals recommended for other funding: 2
Round 8
  • Deadline for application: 30th May 2014
  • Number of proposals received: 5
  • Number of proposals recommended for TDB funding: 0
  • Number of proposals recommended for other funding: 1
Round 9
  • Deadline for application: 15th Feb 2015
  • Number of proposals received: 7
  • Number of proposals recommended for TDB funding: 1
  • Number of proposals recommended for other funding: 0
Round 10
  • Deadline for application: 28th July 2015
  • Number of proposals received: 4
  • Number of proposals recommended for TDB funding: 0
  • Number of proposals recommended for other funding: 0
Round 11
  • Deadline for application: 23rd January 2016

Current Status of TDB seed fund at Venture Center
Venture Center is currently inviting proposals for the eleventh round of investment. Please fill in the Application and send us a formal business plan before 23th Jan 2016.

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

TDB Seed Support Scheme @ Venture Center

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