Technopreneurs - How to Fund Your Innovation | India Law and Technology Blog

I made a compilation recently about governmental schemes for funding technopreneurs. The topic might not be pertinent to the theme of the blog, however, considering that our blog is followed by many technopreneurs, the compilation may prove to be handy.

The technology startup scene in India is vibrant and bright. Indian technology entrepreneurs are coming up with amazing ideas, and are converting those ideas into great opportunities. With the country being affected by myriad problems, it is believed by many that solutions to most of our problems will come from efforts of our young and intelligent entrepreneurs.

Various stake holders of our country including our governments have also realized this. That’s why one is noticing a tremendous increase in public money for the purpose of fostering entrepreneurship. Governmental schemes are willing to fund, either by way of grants or soft loans, entrepreneurs who have the ideas to benefit the society at large.

Unfortunately, the dissemination of information regarding the schemes still requires efforts. The information about the schemes percolates to only handful of the needy. The governmental efforts into information schematization and dissemination require improvements. For example, very few governmental websites exists covering topics related to entrepreneurs and entrepreneurship. Use of social media, such as FB, Twitter, Linkedin, and blogs, for dissemination of correct information is poor. However, the recent success of policing initiatives on social media shows that the use of this amazing medium can effectively solve problems of information dissemination. The governmental agencies need to shrug their indolence and embrace the medium for a bigger social cause.

Without diverting from the issue, the objective of this article is to acquaint our entrepreneurs with various funding schemes of the government. We have painstakingly compiled a list of governmental schemes for entrepreneur funding and support. The compilation is presented in the Table below, with the information classified into categories: Scheme Name, Government Agency running the Scheme, for what purpose the scheme has been started, and funding details.

S.No.	Scheme Name	Govt. Agency	For What?	Fund Details	Contact
1	Micro Technopreneurship Support for TePP	DSIR, MoST	Modeling/ Simulation	Rs. 75,000/- subject to 90% of approved project cost	Click Here
2	TePP Project Fund for TePP	DSIR, MoST	Prototyping/ Development	Maximum support under this category is Rs 15,00,000/- subject to 90% of approved project cost	Click Here
3	Seamless Scale-up Support for TePP	DSIR, MoST	Adding Product Features/ Value Addition on the product	Maximum support under this category is Rs. 45,00,000/- subject to a maximum 50% of approved project cost. Manpower costs supported will not exceed 20% of the total grant amount. Travel costs supported will not exceed 5% of the total grant amount	Click Here
4	Supplementary TePP Fund for TePP	DSIR, MoST	Innovation to Market/ Patenting	Maximum support under this category is Rs 7,50,000/- subject to maximum 90% of approved project cost	Click Here
5	Seed Support Scheme	TDB, DST, MoST	Incubation	Grant upto Rs. 1 crore each over a period of upto three years	Mr. HK Mittal’s Office: Click Here
6	Funding Scheme	TDB, DST, MoST	Innovation to Commercialization	Soft Loan: Upto 50% of project cost to be incurred at 5% simple interest. Repayment in six monthly nine installments	Mr. Y.S. Yadav: Click Here
7	TIMEIS	NSTEDB and FICCI	Entire Technology Development Cycle	Soft support, Consulting support etc	Ms. Swapna Das, Program Coordinator Tel : 011-23721503, Fax : 011-23721504 Email : swapna.das@ficci.com
8	Technology Development & Demonstration Programme (TDDP)	DSIR, MoST	Innovation to Prototyping to Up scaling. Patenting. Consultancy Cost.	Generally limited to 50% of the eligible project cost	Head TPDU , Deptt. of Scientific and Industrial Research, Technology Bhavan, New Mehrauli Road, New Delhi-110016 E-mail- rra@nic.in, nrfc@nic.in
9	SUPPORT FOR ENTREPRENEURIAL AND MANAGERIAL DEVELOPMENT OF SMEs THROUGH INCUBATORS	MoMSME under NMCP	Early stage funding for nurturing innovative business ideas (new indigenious technology, processes, products, procedure etc.) which could be commercialized in a year	Financial assistance between Rs. 4 lakh to Rs. 8 lakh per idea/unit.	Please click here for more details
10	MARKETING ASSISTANCE SCHEME	MoMSME in association with NSIC	Grant to take part in exhibitions for Marketing	Up to Rs 5 Lakh support for attending domestic and International exhibitions	NSIC Toll Free No. 1800111955
11	FINANCIAL ASSISTANCE ON BAR CODE	MoMSME in association under NMCP	Reimbursement of Financial Costs incurred on implementation of BAR CODES on products	Financial assistance for reimbursement of 75% of one-time registration fee and 75% of annual recurring fee for first three years	Abhay Bakre Tel: 01123061091 (Ext:2421) Fax: 01123061430 Email: abhaybakre@dcmsme.gov.in
12	Building Awareness on Intellectual Property Rights	MoMSME in association under NMCP	Reimbursements on patent grants	Domestic Patent – 25,000/- grant International Patent – 2.0 L grant GI registration: 1 L grant	Dharmendra Prakash (Tel): 011-23062119 (Ext: 2427) (Fax) 011-23062241 dprakash@dcmsme.gov.in
13	Design Clinics Scheme for design expertise to Micro Small and Medium Enterprises (MSMEs) manufacturing sector	MoMSME in association under NMCP	Consultancy support to design problems	The Scheme reimburses 75% of the actual expenses to the Association subject to a ceiling of Rs.3 lacs	Coordinator West Zone Centre National Institute of Design Paldi, Ahmedabad 380 007 Phone: +91 79 26623692 Extn 1069 Fax: +91 79 26621167
14	International Travel Support Scheme	DST	Financial assistance for international travel for presenting a research paper or chairing a session or delivering a keynote address in an international scientific event (conference/seminar/symposium/workshop etc.)	Full economy class air-fare by shortest route, airport-tax and visa fees are provided under the scheme.	Shri Praveen Kumar S Scientist C Department of Science & Technology Technology Bhawan New Mehrauli Road New Delhi-110 016. Tel: 011-26590353 / 26590221 Email :praveen at nic dot in Email: pfa-dst at nic dot in
15	Drugs & Pharmaceutical Research	DST	Loan for drug research with a research institution	Loan amount upto 70% of the project cost.	Dr GJ Samathanam Adviser & Head (TDT) Department of Science and Technology Technology Bhavan New Delhi-110 016 Telefax : 011- 26862512 phone:011- 26590367 Email: samathan at nic dot in
16	Instrumentation Development Programme	DST	Funding for developing instruments	Up to Rs 35 Lakh sanctioned in recent projects, grant for technologists in academic institutions / soft loans or equity partnership with entrepreneurs	Dr GJ Samathanam Adviser & Head (TDT) Department of Science and Technology Technology Bhavan New Delhi-110 016 Telefax : 011- 26862512 phone:011- 26590367 Email: samathan at nic dot in
17	DIRECT CREDIT SCHEMES	SIDBI	Funding	SSIs and Service sector units with project cost upto Rs.25 crore	Contact SIDBI
18	COMPOSITE LOAN SCHEME (CLS)	SIDBI	Funding	Assistance for equipment and/or working capital as also for work Sheds	Contact SIDBI
19	SINGLE WINDOW SCHEME (SWS)	SIDBI	Funding	To provide both term loan for fixed assets and loan for working capital through the same agency.	Contact SIDBI
20	Small Business Innovation Research Initiative (SBIRI) for Public Private Partnership	Department of Biotechnology	Early stage funding/loaning for biotech/pharma entrepreneurs and later loaning support for commercialization	Upto Rs 10 Crore, upto Rs 50 Lakh as grant and rest as soft loan	Dr. (Mrs.) Suchita Ninawe, Scientist ‘F’, Department of Biotechnology, Ministry of Science & Technology, CGO Complex, Block – 2, 6-8th floors, Lodi Road, New Delhi-110 003. Email: sninawe@dbt.nic.in
21	Angel Funding by NRDC	NRDC	Angel Funding	Rs 10 Lakh to Rs 30 Lakh	Click Here
22	The Invention Promotion Programme	NRDC	Funding for technology development, IPR and commercialization	Upto 2 lakh	Click Here