Student Startup and Innovation Policy (SSIP)
Funding up to INR 2.5 Lakhs
Please refer to the official SSIP guidelines before applying. If you have any questions or need clarification, please write to us at vs@ahduni.edu.in.
Purpose
The Student Startup and Innovation Policy (SSIP) is a flagship initiative by the Government of Gujarat to support innovation and entrepreneurship among students. The scheme enables students to pursue their ideas by providing financial, technical, and mentoring support to develop proof-of-concept (PoC), prototypes, and early-stage ventures.
At VentureStudio, SSIP support is primarily directed toward idea validation and prototype development for college students with an entrepreneurial mindset.
Eligibility Criteria
Individual Beneficiaries
- Any person in Gujarat up to the age of 35 years who is:
- A school student from Foundational to Secondary level (up to Class 12)
- A Diploma, Vocational, Undergraduate, Postgraduate, or Doctoral student or an alumnus/alumna
- Any dropout from school/institute/university
- The innovation should contribute towards development or improvement of a product, process, or service; OR
- The innovation should be a scalable business model with the potential to generate employment or create wealth
Who Is Not Eligible
- Student applicants pursuing long-term research projects like doctoral research
- Professors or academicians engaged in teaching with any academic or R&D institute
- Projects related to software development, e-commerce, service solutions, or app-based solutions
- Innovators who have already received NIDHI-PRAYAS or similar support previously for the same innovative concept
Benefits of the Grant
- Receive up to INR 2.5 lakhs to transform your innovative idea into a functional prototype or minimum viable product.
- Access VentureStudio's co-working spaces, fabrication shop, and bio-lab.
- Expert support for prototype development, technical validation, and testing.
Approved Usage of Funds
- Materials, components, and equipment necessary for building a working prototype.
- Costs associated with testing your prototype, conducting user trials, and validating your concept.
- Essential software licenses or development costs directly related to your innovation.
- Fees for specialised technical expertise required for prototype development.
- Costs associated with filing preliminary patents or other intellectual property protection.
- Expenses for conducting specific market research to validate your product-market fit.
- Professional design services for product development and refinement.
- Rental of specialised equipment necessary for prototype development.
- Purchase of raw materials and components required for the prototype.
- Small-batch production for user testing and validation.
Prohibited Usage of Funds
- Salary, stipend, or any form of remuneration to the applicant or team members.
- Purchase or rental of office or workspace.
- Regular business expenses like rent, utilities, internet, etc.
- Advertising, promotional materials, or marketing campaigns.
- Personal travel, conference attendance, or business trips.
- Any form of entertainment expenses.
- Repayment of loans or other financial obligations.
- Any form of financial investment or equity purchase.
- Purchase of non-essential luxury items or equipment.
- Reimbursement of expenses incurred before grant approval.
- Funding for academic research not directly tied to prototype development.
- Purchase or lease of vehicles.
Terms and Conditions
- The prototype development must be completed within 12 months from the date of grant disbursal.
- Funds will be disbursed in 2-3 instalments based on the achievement of pre-defined milestones.
- You must submit quarterly progress reports and a final report upon project completion.
- Maintain proper records of all expenditures with supporting documents, which may be audited.
- The intellectual property rights of the innovation will remain with you, but you must acknowledge SSIP support in all related communications.
- You must submit a utilisation certificate signed by a chartered accountant for all funds used.
- Any significant changes to the project scope or budget allocation require prior written approval.
- You must participate in SSIP events, workshops, and demo days as requested.
- You are expected to make a good faith effort toward commercialising your innovation.
- In case of misuse of funds or abandonment of the project without valid reason, the grant amount may be recovered.
- You must acknowledge SSIP support in all publications, presentations, and promotional materials related to the funded project.
- You must comply with all applicable laws, regulations, and institutional policies while implementing the project.