Bhau Institute, COEP

Objectives include encouraging entrepreneurship among targeted groups, providing a forum for deserving entrepreneurs, creating a pipeline of entrepreneurs for incubators, making entrepreneurship attractive, and enabling creation of new startups towards funding. Opportunities include guidance from experienced entrepreneurs, end-to-end mentoring from idea validation to business plan drafting, best practices for starting a business, professional network expansion, office spaces, and guidance for government grants. Sector focus includes Agri-Tech, Agriculture, Foodtech, EV & Smart Mobility, IoT & AI, Renewable Energy. Eligibility criteria include being a domicile of Maharashtra, graduated, belonging to specified castes, having an innovative idea for a scalable technology business model within one year, full-time commitment, and no parallel income source. Total maximum support is capped at Rs 3,00,000 for each fellow. Duration is 12 months based on milestone completion and monthly progress reports.

The scheme addresses capital inadequacy at the seed and 'Proof of Concept' development stage for startups with innovative ideas. It aims to prevent innovative business ideas from failing due to lack of early-stage capital, leading to employment generation. Sector focus for COEP’s Bhau Institute includes IoT, AI, Cyber security, Agri-Tech, Healthcare Technologies, EV and Smart Mobility, Grassroots Innovation, and Renewable Energy. Eligibility requires a DPIIT-recognized startup, incorporated not more than 2 years ago, with a technology-driven business idea for a product/service with market fit, viable commercialization, and scaling potential. Preference is given to innovative solutions in social impact, waste management, water management, financial inclusion, education, agriculture, food processing, biotechnology, healthcare, energy, mobility, defence, space, railways, oil and gas, textiles. Startups should not have received more than Rs 10 lakh monetary support from other Central/State schemes (excluding prize money, subsidized space, founder allowance, lab access, prototyping). Indian promoter shareholding must be at least 51%. Seed support can be availed as grant and debt/convertible debentures, each once.