NIDHI Seed Support Scheme (NIDHI SSS)

NIDHI Seed Support Scheme (NIDHI SSS)

VentureStudio, Ahmedabad University is hosting a seed fund with a corpus of INR 2 crore under the scheme “Seed Support System for Start-ups in Incubators” of the National Science & Technology Entrepreneurship Development Board (NSTEDB), Department of Science & Technology.

The Seed Support is for current incubatees (physical resident units within VentureStudio) of VentureStudio. The funds are meant for early stage funding for indigenous ideas and technologies requiring up-scaling and related work.

An expert committee called the NIDHI-Seed Support Management Committee (NIDHI-SSMC) constituted by VentureStudio would evaluate the prospective incubatee under physical incubation requiring seed support.

The selected Startups would also be continually monitored by the expert committee.

Applications for the seed fund will be reviewed based on criteria such as (but not limited to):

  • Is amount of funding requested enough to reach critical milestone?
  • Does the venture have a clear, potentially significant/singular value proposition
  • How big/fast growing is the potential market?
  • Are target customers clearly identified?
  • How credible is the technology? (Is PoC credible in the opinion of subject-matter experts?)
  • Are there regulatory/certification/policy risks?
  • What are the sources of sustainable competitive advantage (e.g. novelty, patentability, etc.)?
  • What is the quality of the business plan (revenue model, product roadmap, market segments, etc.)?

Quantum of financial assistance to the incubated entrepreneur

  • Minimum: Rs. 2 lakh
  • Maximum: Rs. 25 lakhs

Broad Areas to be covered under the financial assistance include:

  • Product development
  • Testing and trials
  • Test Marketing
  • Mentoring
  • Professional Consultancy ( To attract Professors of institutions to work with small firms)
  • IPR issues
  • Man power for day to day operations
  • Any other area as deemed necessary and recommended by the Management Committee

The seed fund is only for

  • Companies with minimum 51% ownership by Indian nationals
  • Companies ready to be incubated at Venture Studio


Criteria for applicants:

  • There must be at-least one dedicated entrepreneur involved in the venture
  • There must be a formal business plan
  • The venture and the team must have high ethical & professional standards
  • The venture must have a strong technology/knowledge component
  • EHS requirements must be met
  • Key Proof-of-Concept must be demonstrated & must be reproducible
  • The venture must be registered as a private limited company, or must be in the process of registration
  • The amount of funding requested must be less than Rs 25 lakh
  • The entrepreneur(s) must be willing to share equity in the venture
  • The seed funds requested must be for activities such as product development, prototyping, scale-up, developing IP portfolio, test marketing, trials, certification, testing. 


Download Application Form

 

Startups supported by NIDHI SSS

 



Zybra
Zybra's SaaS-based GST, Invoicing, and Accounting Software and Mobile App are specially designed for small and medium-scale businesses to make finance, accounting, and tax compliances simple, cost-effective, and efficient.
For more details, please visit the website



Biofics Private Limited
Biofics is a leading provider of organic waste management services across India. It manufactures organic waste composters and biogas plants for commercial applications.
For more details, please visit the website

AI Studio (Aura Interactive) 
AuraInteract is a metaverse company offering enterprise solutions through XR and AI technologies to accelerate digital performance. It offers interactive solutions such as industrial training simulation, design visualisation, brand engagement, and architectural visualisation, among others.
For more details, please visit the website



Vendaxo
Vendaxo is a curated online marketplace to buy/sell or hire/rent/lease second-hand and used industrial equipment catering to a wide range of industries and geographies, making the process hassle-free, cost-effective, and transparent.
For more details, please visit the website



V-Carry
V Carry is an end-to-end platform for commercial transport providers, creating innovative business potential and operating efficiency through product and price discovery and freight matching for stakeholders.
For more details, please visit the website



Dweek Studio
Dweek Studios offers Gamified Learning Management Systems for preschools to digitise and transform conventional institutions into smart preschools equipped with a technology-enabled interactive custom-built curriculum. It also engages parents with innovative and efficient communication tools.
For more details, please visit the website



Easymedi (VNJ Innovations)
Easymedi is a platform integrating healthcare stakeholders – patients, doctors, pharmacies, laboratories, and more, through the Internet and Mobile network to develop solutions for delivering healthcare in a seamless, simple, and cost-effective manner.
For more details, please visit the website



Ezee Braces
Pulse Orthodontia aims to transform the facial aesthetics of patients having imperfect positioning of teeth with its dental brace systems with innovative braces moving in three directions that are customised to the individual patient’s tooth profile and come at a fraction of the cost of conventional braces.
For more details, please visit the website



Diahappy
Ador Health offers a clinically validated medical ecosystem with a food-focused Diabetes Remission solution to put Diabetes Type 2 in notable remission and also to reverse obesity permanently.
For more details, please visit the website



Univia Private Limited
Univia is an agritech application providing an e-commerce marketplace for agri-inputs like pesticides, seeds, implements, information around rainfall, soil condition, harvest forecasts, realtime mandi-prices, and other agronomy advisories to the Indian farming community with a personalised easy-to-use app interface solving the traditional farmer's procurement challenges with accurate realtime information, insights, and intermediation.
For more details, please visit the website