Startup Funding

Niti Aayog To Provide 10 Crore Funding Each; Selects 6 Startup Ecosystem Builders Under Atal Innovation Mission

Indian Business Blog featuring on Business, Technology and Education
Written by Harshad Patankar

NITI Aayog which is a dedicated department to transform India now comes up with the finalist for its call for applications for start ups.  It has selected six incubators for NITI Aayog’s Atal Innovation Mission for scale-up support funding.For the unversed, NITI Aayog’s Atal Innovation Mission aims to upgrade already established incubation centres to exceptional global standards. Earlier it has come up with the solution to rank states based on the digital transactions to transform the states and promote to adapt digital transactions.

The India is tending towards the innovations as many start ups are promoted to innovate, we’ve reported that Satoshi Studios has open application for Blockchain start ups, Gujrat is also going to shell out 200 Cr for the student start ups.

Benefits to Selected Organization

Under the funding scheme, the incubators will be upgraded to provide state-of-the-art facilities to the incubated startups, reported ET. The selected incubators will receive INR 10 Cr each over a span of two years.

NITI Aayog has shortlisted received 232 applications in 2016 and out of which, the committee shortlisted 17 incubators/institutions for review and interview and then come down to 6 as a final list of selection. 

Selected Start ups Under Atal Innovation Mission

1. Bio Incubator At C-CAMP

  • About :Centre for Cellular And Molecular Platforms (C-CAMP) is an initiative of Department of Biotechnology, Ministry of Science and Technology, Government of India, with a mandate to enable cutting-edge life science research and innovation. It is also a member of the Bangalore Life Sciences Cluster (BLiSC). It acts as an enabler of bioscience research and entrepreneurship by providing research, development, training, and service in state-of-the-art technology platforms.
  • Location: Karnataka
  • Launched In: 2012
  • Sectors: Life services, healthcare, agriculture, pharma, biopharma, diagnostics, and medtech.
  • Investment Structure: As a DBT-funded initiative, C-CAMP aims to support early-stage highly innovative startups/ideas through Seed funding.
  • Batches Incubated: 8
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2. NIT TREC-STEP

  • About:Indian Business Blog featuring on Business, Technology and EducationTREC-STEP is a pioneering organisation, promoted in 1986, by the Central and State Governments of India, such as the Department of Science and Technology, Government of India, Government of Tamilnadu, along with national financial institutions such as IDBI, IFCI, ICICI and other institutions, for spearheading the promotion of science and technology, innovations and knowledge-based ventures. TREC-STEP is a model, full-fledged science park situated on 50 acres of land, with a unique innovation and research orientation and well-honed systems for nurturing technology innovations into high-tech, high-growth startup enterprises. TREC-STEP provides comprehensive, end-to-end support for start-up promotion and growth, with five dedicated, venture incubation packages such as strategic support, infrastructure, funding, IPR strategy facilitation and internationalisation, and ICT support.
  • Location: NIT Campus, Tiruchirapalli
  • Launched In: 2004
  • Sectors: Cleantech, IT, engineering, biotech
  • Notable Startups Incubated: Pure TechGreen Connect

3. Amrita TBI, Amrita VishwaVidhyapeetham

  • About:Amrita TBI – funds, incubates, and nurtures both technology and social businesses. It provides an ecosystem for a startup company to turn an idea into a product that is commercially viable. They have a rich and diverse group of mentors in areas such as strategy, finance, marketing, intellectual property, product management, micro-insurance, micro-finance, internet technologies etc. Also, by being co-located with Amrita University, the startups have access to and can recruit from the pool of talented students across different campuses.
  • Location: Kollam, Kerala
  • Launched In: 2008
  • Sectors: Technology, social welfare, agriculture, ICT
  • Investment Structure: Loan and/or equity
  • Startups Incubated Till Date: It has incubated 45 startups, and mentored 181 startup ideas
  • Notable Startups Incubated: Skillovators, Pin ‘N’ Park, nikkos


4. NSRCEL, IIM Bangalore

  • About:NSRCEL is the entrepreneurship and incubation centre at IIM Bangalore. The centre supports very early stage enterprises that would otherwise not be accepted elsewhere. These services are offered at significantly subsidised rates. NSRCEL’s pro bono initiatives include a number of knowledge dissemination workshops every year. The most important of these is a monthly workshop named 4 startups – dealing with different aspects of starting up or growing an enterprise that attracts between 250 and 400 entrepreneurs or aspiring entrepreneurs every month.
  • Location: Bengaluru
  • Launched In: 2002
  • Sectors: Sector-agnostic (ecommerce, fintech, healthcare, FMCG, social enterprises, and cloud-based IT solutions)
  • Investment Structure: 5% Equity
  • Number Batches Graduated: 10
  • Startups Incubated Till Date: 57
  • Duration of Each Batch: 12 Months
  • Notable Startups Incubated: Amagi, Just books, Milaap, Zoojoobe, Gamatics
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5. 91Springboard

  • About:91Springboard was founded in 2012 by Anuj Pulstya, Pranay Gupta, Varun Chawla, Deepak Sharma, Anand Vemuri, and Susan Lim. It began its operations in Delhi in 2013 and has since grown to seven cities with hubs in Delhi, Gurugram, Noida, Hyderabad, Bengaluru, Navi Mumbai, and Mumbai. Each of the hubs is now a profitable business unit, as claimed by the company.
  • Launched in: 2012
  • Location: Delhi, Gurugram, Hyderabad, Noida, Navi Mumbai, Bengaluru
  • Facilities: Members get access to a coworking space with 24×7 office-infrastructure support, key service providers, knowledge sharing & collaboration, networking. The facilities include Internet, conference rooms, photocopy/print/scan, network with startup community, free or discounted access to events, access to a mentor network etc.


6. Access Livelihoods Consulting India Ltd

  • About:It is a social enterprise that works across 17 states in India to create and test new livelihood models that transform producers’ lives and usher greater self-reliance. As per an official statement, they are currently partnering with over 60,000 farmers, weavers and tribal farmers in building 37 producer companies in four states of India.
  • Location: Hyderabad
  • Launched In: 2005
  • Sectors: Innovative ideas for marginalised communities

 

About the author

Harshad Patankar

My name is Harshad Patankar and I am the chief blogger at BumbleBeeHub Blog and where I like to share my internet/tech experience along with some fascinating updates around the Business, Technology, Education and Government sectos with my online readers on this website. You can read more about me at my About Page. You can follow me on Twitter, Facebook & Google