National Science & Technology Entrepreneurship Development Board (NSTEDB)
Department of Science and Technology (DST) has set up this board, and they foster startups through various schemes like –
- Technology Business Incubators (TBI): TBIs are recognized by MHRD and were created to increase the odds of survival of various business and tech-based startups. They train startups in important aspects of businesses like creating financial models and handling legal work.
- National Initiative for Developing and Harnessing Innovation (NIDHI): NIDHI is an umbrella organization that clubs incubators, seed support systems, accelerators, and a few more kinds of institutions that help startups.
- NewGen Innovation and Entrepreneurship Development Centre (NewGen IEDC): As the name suggests, NewGen invests in tech-based innovative startups with up to 25 lakhs in funding.
- Science & Technology Entrepreneurship Development (STED): STED fulfills the other end of the spectrum as compared State GovernmentsState Governments to others. It aims to improve socially backward regions by presenting local startups with opportunities and guidance.
- I-STED: It is specifically aimed at solving social problems. Hence, it invests its resources in startups which are present in segments like energy, health, food and water management, etc.
- Science & Technology Entrepreneurs Park (STEP): The motive behind such parks is to empower job seekers to become job creators. This is achieved by a partnership between academic institutions and industry leaders.
Atal Innovation Mission (AIM)
The flagship mission of Niti Aayog, AIM was set up to promote entrepreneurship and innovation across the country. The former is done through self-employment and talent utilization, while innovation promotion is achieved by providing a platform where innovative ideas can thrive.
The do this, various state of the art Atal Tinkering Labs have been established at the national level, along with setting up of a few world-class Atal Incubators (AIC). AIM often collaborates and funds other incubation centers.
Biotechnology Industry Research Assistance Council (BIRAC)
BIRAC is a not-for-profit enterprise set up by the Department of Biotechnology, Government of India, as an industry-academia interface meant to empower Biotech based startups. BIRAC provides many hand-holding schemes (like initial funding, investment in technology, etc) to make biotech startups competitive at a global level.
Ministry of Electronics and Information Technology (MeitY)
The Ministry has set up a Technology Incubation and Development of Entrepreneurs (TIDE) scheme, through which startups working in the ‘Electronics’ domain can avail various benefits apart from incubation. Over time, these TIDE centers have become a big attraction for big Venture Capitalists (VCs) and other investors.
Ministry of Micro, Small & Medium Enterprises (MSME)
MSME is the apex body that formulates and implements rules and regulations related to micro, small, and medium-sized enterprises in IState GovernmentsState GovernmentsState Governmentsndia. It acts as a parent for various incubators. Instead of directly funding startups, MSME provides the capital of about ₹1 crore to approved incubators. Further, it provides assistance of ₹100 lakhs to institutes that are willing to set up new TBIs.
Many states have established their own funds for fostering the growth of startups. Initiated by the Department of Industry Policy and Promotion (DIPP), “Startup India Yatra” is one such state-level program that has been accepted and implemented by 14 states across the nation.
Follow Flickonclick to get all the latest updates on technology, entertainment, offers, lifestyle, talent and fitness.