Objective
NIDHI iTBI DST scheme aims to provide financial assistance to women led startups for proof of concept, prototype development, product trials, market entry and commercialization to enable these startups to graduate to a level where they will be able to raise investments from angel investors or venture capitalists or seek loans from commercial banks or financial institutions.
Eligibility
- The startup must have a business idea to develop a product or a service with a market fit, viable commercialization, and scope of scaling
- The startup should be using technology in its core product or service, business model, or distribution model, or methodology to solve the problem being targeted.
- Shareholding by women promoters in the startup should be at least 51% at the time of reciving grants under the scheme, as per the Companies Act, 2013 and SEBI (ICDR) Regulations, 2018.
- A startup applicant can avail seed support in the form of grant and debt/convertible debentures each once as per the guidelines of the scheme
Seed Fund Support
- Seed Fund to an eligible startup by the incubator is disbursed as follows:
- Up to Rs. 10 Lakhs as a grant for validation of Proof of Concept, or prototype development, or product trials. The grant shall be disbursed in milestone-based instalments. These milestones can be related to the development of prototypes, product testing, building a product ready for market launch, etc
- A startup applicant can avail seed support in the form of grant and debt/convertible debentures each once as per the guidelines of the scheme
Application of fund support
Seed fund shall strictly not be used by startups for creation of any facilities and shall be utilized for the purpose it has been granted for. A grant can be used for validation of Proof of Concept, prototype development, or product trials. A debt/ convertible debenture can be used for Market entry, Commercialization, or Scaling up.
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