NIDHI- SEED SUPPORT PROGRAM

Program Overview

NIDHI –SSP under the Department of Science and Technology (DST), Government of India provides financial assistance to start-ups with promising Ideas, Innovations, and Technologies. This timely support enables deserving start-ups to build their financial foundation and be able to raise investments from angel and venture capitalist or be a position to seek loans from commercial banks and other financial institutions.

AIC Banasthali has partnered with Department of Science & Technology under the NIDHI Seed Support Program with the aim to provide timely financial support to deserving women-led startups. Primarily but not limited to Science & Technology Startups.

Eligibility

  1. Incubatee should be a registered company in India with minimum of three months of residency at AIC Banasthali.
  2. This support is not meant for Indian Subsidiaries of MNCs/foreign companies. Persons holding Overseas Citizens of India (OCI), Persons of Indian Origin (PIO) would be considered as Indian citizens for the purpose of this scheme.
  3. The shareholding by Indian promoters in the incubate start up should be at least 51%.
  4. If the startup is seeking Seed Support from AIC Banasthali, maximum shareholding should be with women founders.

Broad Areas to be covered under financial assistance

  1. For meeting day-to-day operational costs,
  2. Performing proof-of concept stage studies,
  3. Product development & Prototype generation,
  4. Hiring of manpower and Professional consultancy
  5. Cost related to Mentoring, Market research, IPR issues,
  6. In selected cases, where funds can help with gap funding/next-level funding.
  7. Generating additional data or performing validation studies needed to secure next round of funding,
  8. Any other area as deemed necessary and recommended by the Seed Support Management Committee of the incubator.

Terms for Seed Fundings-

  1. Startup must complete 3 Months Incubation (Physical) at AIC Banasthali at the time of Investment.
  2. Average Seed Support for Startups is Rs. 25 Lakhs which can go upto Rs. 40 Lakhs per startup in exceptional cases or as deemed fit by the Seed Support Management Committee.
  3. Mode of Investment: Equity or Equity-linked instruments
  4. BoD representation: 1 Board Nominee Director and/or observer of AIC Banasthali

For more details, please write at [email protected].