Preamble: Technology Business Incubators (TBIs) and Science & Technology Entrepreneurs Parks (STEPs) are a facility to incubate technological ideas or technologies under development to enable them to reach the market place. It helps the young firms to survive and grow by providing specialised support services during the critical period of a business venture i.e. the start-up phase. The goal is to nurture successful indigenous technologies and growth oriented entrepreneurs/enterprises.
The requirement: While the STEPs/TBI are able to support the “Space & specialised” capital requirements of a technology driven start up. The basic idea of the proposed financial assistance is to equip the STEP/TBI with the much needed early stage financial assistance to be provided to deserving ideas/ technologies.
The fund would cater to early stage funding for indigenous ideas and technologies requiring up-scaling and related work.
The funds would be disbursed to the deserving incubatees with proper due diligence by the STEP/TBI.
The terms of disbursement to the selected incubatees should be linked to benchmarks/milestones as per the business plan/project proposal.
The selection and disbursement of the proposed support would be based on
The Start-ups would be supported primarily on the following
Testing and Trials
Professional Consultancy (To attract Professors of institutions to work with small firms)
Manpower for day to day operations
Any other area deemed necessary and recommended by Selection Committee of individual STEP/TBI.