NIDHI Seed Support System at SCTIMST-TIMed
A programme by SCTIMST-TIMed
Seed funding for startups already incubating at TIMed, under the Department of Science & Technology scheme TIMed was selected to run.
At a glance
| Best for | Startups already incubating at TIMed for three months or more |
|---|---|
| Stage | MVP – Early revenue |
| Format | In person |
| Cost | Free |
| Grant support | For selected startups. A place in the programme does not by itself guarantee a grant. |
| Run with | Department of Science & Technology, Government of India |
About NIDHI Seed Support System at SCTIMST-TIMed
DST chose TIMed as one of the technology business incubators running its Seed Support System, which funds startups that are already physically incubating at TIMed so they can reach the market. It is not open to outside applicants.
What you get
- Seed support for product development, testing and trials, test marketing, mentoring, professional consultancy, IP work and manpower for day-to-day operations, plus anything else the seed support management committee approves
- Support can be structured as debt or a soft loan, as quasi-equity, as equity, or in another form the committee approves
Who can apply
- A company registered in India, with a minimum of three months' residency at TIMed
- An Indian startup — not an Indian subsidiary of a multinational or foreign company. Overseas Citizens of India and Persons of Indian Origin count as Indian citizens for the scheme
- Indian promoters must hold at least 51% of the shareholding
How selection works: A seed support management committee chaired by the Director of SCTIMST decides. It includes a DST nominee, the head of the Biomedical Technology Wing, the TIMed chief executive as member secretary, the institute's finance and administration head, and outside members from angel investment, professional services, diagnostics and software.
How to apply: Be a resident incubatee for at least three months, then apply through TIMed. The programme page names a fund manager and a business development manager for clarifications.
Where to apply
Other SCTIMST-TIMed programmes
- Incubation at TIMedRolling, physical incubation for medical device and biomaterials ventures, for up to 36 months, on SCTIMST's Biomedical Technology Wing campus.
- NIDHI PRAYAS at SCTIMST-TIMedA prototyping grant from the Department of Science & Technology for idea-stage innovators with a physical medical or technology product.
- TIPS@TIMed — technology transfer and IP servicesA regional technology transfer office at TIMed, set up under BIRAC's National Biopharma Mission, offering patent and commercialisation services across India.
- KTU Minor in EntrepreneurshipTIMed is one of five incubators empanelled by APJ Abdul Kalam Technological University to deliver its credit-bearing entrepreneurship minor.