We are very happy to support technopreneurs through various seed fund and grant fund schemes operated by Venture Center. We are currently operating three seed funds – NIDHI-SSS, BIRAC SEED Fund and the newly added BIRAC LEAP Fund!
We have funded four companies to the extent of Rs 2.2 cr under the seed fund schemes and have further shortlisted three start ups for investment. We are very happy to announce that we completed our first exit successfully from a portfolio company. The fund shall now be deployed in nurturing other new start ups.
Besides seed funding options, we are also entrusted by DST to implement the NIDHI-EIR and NIDHI-PRAYAS scheme under Round 2 to support 10 technology ideas under each of these programs. We continue to be the implementation partner for funding schemes supported by BIRAC for the Biotechnology Ignition Grant (BIG), SIIP Fellowship and SoCH award. Since September 2018, 13 new grantees have been supported under the BIG and SoCH Award schemes.
We look forward to support more start ups in FY 19-20 to help them achieve critical milestones with the help of our funding support backed by DST and BIRAC, and valuable inputs from technical experts while reviewing these new and innovative ideas.
In this issue, you can read about:
- DST NIDHI Investment Updates
- BIRAC SEED Fund Investment News
- New Facility Inauguration
- Company Milestones and Awards
- Portfolio Companies
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