Funding Agency

DST (http://dst.gov.in/) – Department of Science & Technology of GoI have setup National Science and Technology Entrepreneurship Development Board to support and implement their various entrepreneurial initiatives with help of Technology Business Incubator(TBI).One of the initiatives is Seed Support Scheme (SSS) to support startup for product development and go-to-market.

TDB (http://tdb.gov.in/) – Technology  Development Board setup by Department of Science & Technology. The TDB provides financial assistance to Indian industrial concerns and other agencies, attempting development and commercial application of indigenous technology, or adapting imported technology to wider domestic applications.

MeitY (http://meity.gov.in/) – Ministry of Electronics & Information Technology have various initiatives to support entrepreneurs in the Electronics, ICT and Management domain. One such initiative is Technology Incubation and Development of Entrepreneurs (TIDE) with help of Technology Business Incubator / incubation center. They provide funding support to ESDM  startups / entrepreneurs to help convert their ideas to products and for further commercialization.

BIRAC (http://www.birac.nic.in/) - Biotechnology Industry Research Assistance Council set up by Department of Biotechnology (DBT), Government of India as an Interface Agency to strengthen and empower the emerging Biotech enterprise to undertake strategic research and innovation, addressing nationally relevant product development needs.

CSR funding through SINE – (http://sineiitb.org/sine/csr/csr/)- As per Section 135 of the Companies Act 2013, corporates with certain net worth or turnover are expected to spend 2% of the average net profits towards Corporate Social Responsibility Projects. One of the activities that qualifies for CSR spending is contribution to technology business incubators located within academic institutions approved by the Central Government.

SINE- Society for Innovation and Entrepreneurship a not-for-profit technology business incubator hosted at IIT Bombay, and hence is eligible under Section 135, Schedule 7 of the Companies Act 2013.