Greetings from the Funding and Investment team at Venture Center!!
The last financial year (FY 2016-17) has been a wonderful 10th anniversary year for Venture Center as we witnessed growth in the number of resident incubatees receiving funding support from us as well as from other agencies, in the number of funding options available with us for innovators at various stages, and more importantly in the value of our existing portfolio.
Over the last year, we have extended funding to four promising technology start ups under our Seed Support Programs supported by Technology Development Board (TDB) and National Science and Technology Entrepreneurship Development Board (NSTEDB) and three projects under the Proof-of-Concept funding programs supported by Eppendorf through Corporate Social Responsibility (CSR) funding and NSTEDB through Proof-of-Concept Fund.
As a Biotechnology Ignition Grant (BIG) partner with Biotechnology Industry Research Assistance Council (BIRAC), we have administered disbursement of BIG grant to six new and twenty two existing BIG grantees. Eight of these BIG projects were successfully completed during the year.
We have also been selected to run various new funding programs namely,
NIDHI-EIR (Entrepreneur-In-Residence) program of Department of Science & Technology (DST)
NIDHI-PRAYAS (Promoting and Accelerating Young and ASpiring innovators & start-ups) program of DST
NIDHI-SSS (Seed Support Scheme) of DST
SEED Fund (Sustainable Entrepreneurship and Enterprise Development Fund) of Biotechnology Industry Research Assistance Council (BIRAC)
SIIP (Social Innovation Immersion Programme) program of BIRAC
We are looking forward to support many more innovators and start ups operating in Venture Center’s key focus areas in coming years. We are thankful to all the funding agencies for extending their support in our mission to nucleate and nurture technology and knowledge-based enterprises and we would also like to sincerely thank all the external experts who have been contributing their invaluable time to help us pursue this mission.
– Shruti Devasthali
Team Venture Center
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