Project Duration: 6 months

This grant supports technology entrepreneurs and startups in conducting pilot trials, field testing, and technology implementation by providing funding and resources to validate and scale their innovations.

Monitoring and Reporting

Venture Center shall constitute a Program Oversight Committee (POC) for selection of grantees and to oversee the implementation of the project.

The scope and extent of support to the grantee shall be decided on a case-to-case basis by POC. The Project Leader shall periodically review projects and report the progress to the POC.

Impact Metrics

• Number of startups/entrepreneurs supported; creation of a community and a network.

• Technologies being developed and commercialized, and their potential for impact. Metrics of business success including scale, products/services launched, turnover, investments raised.

• Patents filed.

• Follow on funding commitments raised by supported entities; Multiplier effect.

•  Number of people whose lives were impacted by products and services offered.

•  Jobs created by entrepreneurs/companies supported.

• Total risk capital raised competitively by entities supported for technology innovation.

Applicants will be selected based upon the following criteria:

• Soundness of the technology idea

•  Innovativeness of the idea and knowledge intensity

•  Strength of the team to deliver on technology and business goals

•  Value proposition of the customer offerings

•  Business model

•  Commercial potential

• Scalability and potential for impact

•  Budget

•  Timeline requirements

 
Not eligible

• Pure software development with no IP potential

• Pure academic research

Eligibility for Project Leaders for Projects

• Every project proposal will need to identify a Project Leader (PL) and an Applicant/ Grantee

• Applicant or Grantee should be a company or an early stage individual innovator. The Company should be registered under the Indian Companies Act, 2013.

• The company should be owned by resident Indian citizens i.e. minimum 51% of the capital is beneficially owned by resident Indian citizen(s) and / or Indian companies, which are ultimately owned and controlled by resident Indian citizens.

• In case of an Individual applicant, the applicant should be the Project Leader (PL).

• The PL will be an individual who will take responsibility for executing the project.

• PL is required to be at least 18 years of age as on the date of call for applications.

• PL is required to be an Indian Citizen. An Indian citizen is defined as one who is in possession of a government approved proof of nationality such as a valid passport, voter’s id etc. Exceptional cases of foreign nationals with potential for impact in India will be considered.

•  PL has to pursue the project or startup full time with no other concurrent commitments during the project duration.

•  PL cannot be pursuing a long-term academic/research project (like doctoral students) with significant obligations during the project duration.

• PL must have completed basic undergraduate training in natural sciences/engineering/ medicine. Essential qualification is PhD/ MTech/ BTech/ BPharm /MD/ MBBS/ BDS/ MSc / MPhil/ M Des/ MPH /MBA / MSW and equivalents, with under‐ graduate training in Science, Medicine, Engineering. Applicants with a BSc degree with at least 1 year of full-time work or research experience shall also be eligible.

Selection Criteria

• Technical soundness & doability

• Technology should be at an implementation stage

• Potential for social impact

• Team capabilities & background

• Knowledge intensity or novelty or IP potential

• Execution & commercialization plan

• Exceptional cases may be considered on its merit by the committee

• Any others as decided by the committee

Additional Criteria

• If selected, the applicant will become an incubatee of Venture Center after fulfilling the admissions criteria. Venture Center will execute appropriate agreements with the grantee.

• The applicant should be an incubatee of Venture Center for the entire duration of the Project.

• The applicant should be engaged in the projects related to focus Areas.

• The PL and Applicants should not have received another grant for the same objective and scope of the project.

• Maximum grant support will be up to Rs 10 Lakhs per grantee.

• Project duration: Maximum of 6 months.

• Release of funds: Venture Center shall release funds in tranches of 90% and 10% against specified milestones.

• The grant can be used for the following indicative heads:

1. Outsourcing charges for R&D/ design engg/ consultancy/ testing/ experts
2. Raw materials/ consumables/ spares
3. Fabrication/ synthesis charges of working model or process
4. Manpower (Max 20% of approved project cost)
5. Patent filing costs, PCT (Max 10% of approved project cost)
6. Contingency (Max 10% of approved project cost) 

• The grant cannot be used for the following heads:

1. Pay/ repay any loans/commitments made before signing the project agreement
2. Pay rent or related costs for own accommodation
3. Creation of new infrastructure facility, shed etc.
4. Expenses incurred before the start date of the project
   
   

The Grantee has to ensure that he/she/they have all required IP rights (if applicable) (including any license or assignment) to take the technology ahead. The Grantee may also be required to ensure that they will have Freedom to Operate. This requirement may be a Condition Precedent to release of the Grant. Grant funds cannot be used to seek/procure a technology license/assignment.

CALL OPEN : 25th March to 13th April 2025. APPLY NOW!

1. The maximum support that can be provided per project is up to Rs. 20 Lakhs

2. Duration of the project should be only up to 6 months.

3. Applicants are requested to go through the guidelines and eligibility criteria before applying.

4. All applicants will apply by filling the online application form and mailing the necessary documents.

5. Click on the following link to fill the online application form : https://forms.gle/CbqoGMBGmcqSJWmf9

6. Documents to be submitted :

• Appendix 1 : Attach CV or Resume

• Appendix 2 : Presentation introducing your business venture

• Appendix 3 : Proposal describing the specific project for which you require funding and the milestone breakup for 6 months (please include budget details)

• Mail all the following documents to the following Email Id : csr_edc@venturecenter.co.in

• Kindly note that your application will be rejected in case of failure to submit the above mentioned documents.

7. The selection of the grantees shall be done by Venture Center through a Project Oversight Committee and certain qualifying criteria.

8. The shortlisted candidates have to present their project proposal in front of the Project Oversight Committee.

9. The selected grantees shall be informed by the Venture Center.