The sole objective of the NIDHI-Seed Support System (NIDHI-SSS) is to ensure timely availability of the seed support to the deserving incubatee startups within an incubator, thereby enabling them to take their venture to next level and facilitate their success in the market place.
The scheme also enables the STEP/TBI to widen their pipeline of startups and also share the success of their startups which would also result in ensuring their long-term operational sustainability.
Who Should Apply?
Incubatee should be a registered company in India with a minimum of three months of residency at the STEP/TBIs.
Incubatee has to be an Indian start-up. 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 start-up should be at least 51%.
Broad Areas and Items to be covered under the NIDHI–SeedSupport Assistance
The startups would be supported primarily on the following from the seed support
Testing and Trials
Professional Consultancy (To attract professors/experts from institutions to work with start ups.)
Manpower for day to day operations
Any other area as deemed necessary and recommended by the Seed Support
Management Committee of STEP/TBIS.
icreate - Quantum of NIDHI–SSS
The experience tells us that the normal requirement of seed support is to the tune of Rs. 25 lakhs. However, in few exceptionally deserving startups, the upper limit of seed support to a start-up may be raised to Rs. 100 lakhs. A startup supported once will not be eligible for applying for a subsequent round of seed support to any STEP/TBIs. The STEP/TBI should have examined all cases of seed support before putting the matter up to the Seed Support Management Committee for selection. After the seed support is recommended to an incubatee startup, the terms of agreement with the incubatee startup should be framed by the STEP/TB linking the progress milestones, monitoring norms, reasonable repayment, recovery provisions in case of loan and terms of equity liquidation in case of equity holding by STEP/TBI.