Nidhi-Seed Support Program
NIDHI-SSP is promoted by Department of Science and Technology to provide financial assistance to potential startups with promising ideas, innovations and technologies. This initial funding to incubated startups to be provided with an aim to take startups one step ahead in their journey and make them eligible to raise investments from angel/ Venture Capitalists or for loans from commercial banks/ financial institutions.
Thus the proposed seed support disbursed by an AIC-RNTU Foundation to an incubatee is positioned to act as a bridge between development and commercialization of innovative technologies/products/services in a relatively hassle free manner.
AIC RNTU Foundation has partnered with Department of Science & Technology under the NIDHI Seed Support Program with the aim to provide financial support to Early stage startups and make them investment ready. Primarily but not limited to Science & Technology Startups.
Eligibility
The applicant startup must be a company registered in India, preferably be a DPIIT registered/applied startup and should have completed a minimum 3 months of association with the incubator in its resident or virtual incubation program. The applicant startup should have developed clarity on Unique Selling Preposition (USP) through customer validation and value proposition for its targeted customers. 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. The shareholding by Indian promoters in the incubate startup should be at least 51%. Preference will be given to startups, who have not availed any funding from any Government of India /State Govt. body .Broad Areas to be covered under financial assistance
Technology and Product development.
Terms for Seed Fundings-