India is currently experiencing a significant increase in the number of startups, thanks to the nation’s thriving business environment and entrepreneurial culture. With over 99,000 startups and 107 unicorn firms valued at $30 billion, India has become known as the “Startup Hub” of the world.
The government aims to assist entrepreneurs in expanding and establishing their businesses in the global commercial market through various initiatives such as financial support, subsidies, technical assistance, and other related services. This support from the government helps these businesses gain international recognition and attract foreign investors.
High Risk – High Reward Research:
The High Reward Research initiative, overseen by the Science and Engineering Research Board (SERB) under the Ministry of Science & Technology, aims to support groundbreaking proposals with the potential to revolutionize the field of Science & Technology. By backing conceptually new and risky projects, this program seeks to bring about transformative changes in various domains of research and innovation.
- Eligibility: Researchers, scientists, and startups can apply.
- Key Features:
- Provides financial support for innovative projects.
- Aims to push the boundaries of scientific knowledge.
- Encourages risk-taking and unconventional approaches.
Promoting Innovations in Individuals, Startups, and MSMEs (PRISM):
Under the guidance of the Department of Scientific and Industrial Research within the Ministry of Science & Technology, the Promoting Innovations in Individuals, Startups, and MSMEs (PRISM) scheme offers grants, technical assistance, and mentoring to individual innovators and technology solution providers. With a focus on incubating ideas and fostering entrepreneurship, PRISM aims to drive the creation of new enterprises and support MSME clusters through innovative solutions.
- Eligibility: Open to startups and MSMEs.
- Key Features:
- Grants for research and development.
- Supports product development and commercialization.
- Encourages collaboration between academia and industry.
NewGen Innovation and Entrepreneurship Development Centre:
Initiated by the National Science and Technology Entrepreneurship Development Board (NSTEDB) and executed by EDIl, Ahmedabad, the NewGen Innovation and Entrepreneurship Development Centre (NewGen JEDC) fosters a culture of innovation and entrepreneurship among students in the field of Science & Technology. Through guidance, mentorship, and support, this program encourages the creation of startups, empowering young innovators to turn their ideas into impactful ventures.
- Eligibility: Institutions, universities, and organizations.
- Key Features:
- Facilitates knowledge exchange and skill development.
- Provides mentorship and networking opportunities.
- Fosters an entrepreneurial ecosystem.
Biotechnology Ignition Grant:
Administered by the Biotechnology Industry Research Assistance Council (BIRAC) under the Ministry of Science & Technology, the Biotechnology Ignition Grant (BIG) initiative provides funding and support to innovative ideas within the biotech sector. From the ideation to the Proof of Concept (PoC) stage, BIG assists individual entrepreneurs and startups in translating their concepts into commercially viable products and technologies.
- Eligibility: Biotech startups.
- Key Features:
- Financial assistance for early-stage research and development.
- Supports proof-of-concept studies.
- Encourages innovation in biotech applications.
Assistance to Professional Bodies & Seminars or Symposia:
The Assistance to Professional Bodies & Seminars/ Symposia scheme, overseen by NSERB INDIA, supports scientific research events across various disciplines. With a focus on basic sciences, engineering, technology, agriculture, and medicines, this initiative aims to facilitate knowledge exchange, collaboration, and advancements in scientific research through seminars and symposia.
- Eligibility: Professional organizations, industry associations, and startups.
- Key Features:
- Financial support for organizing seminars, workshops, and symposia.
- Enhances networking and knowledge sharing.
Extra Mural Research Funding:
Under the purview of NSERB INDIA, the Extra Mural Research (EMR) funding scheme provides competitive funding opportunities for individual-centric research projects. Covering a wide spectrum of disciplines including Life Sciences, Physical Sciences, Chemical Sciences, Engineering Sciences, Earth & Atmospheric Sciences, and Mathematical Sciences, EMR funding supports scientists in pursuing cutting-edge research in frontier areas of Science & Technology.
- Eligibility: Researchers, startups, and institutions.
- Key Features:
- Supports cutting-edge research.
- Encourages collaboration with industry.
- Enables exploration of new avenues.
Technology Development Programme:
The Technology Development Programme managed by the Department of Science and Technology under the Ministry of Science & Technology, facilitates the development and integration of products, techniques, and technologies tailored to specific end uses. With a focus on modernizing traditional technologies and promoting the application of advanced technologies to socio-economic problem-solving, this initiative drives innovation and technological advancement across various sectors.
- Eligibility: Startups, MSMEs, and research institutions.
- Key Features:
- Financial assistance for technology development.
- Focuses on the commercialization of innovative technologies.
- Bridges the gap between research and the market.
Drugs and Pharmaceutical Research:
The Drugs and Pharmaceutical Research scheme, led by the Department of Science and Technology, seeks to enhance India’s self-reliance in the pharmaceutical sector by synergizing the strengths of publicly funded R&D institutions and the Indian pharmaceutical industry. Through the development of new drugs, skill enhancement in R&D, and the creation of enabling infrastructure, this initiative contributes to addressing critical national health requirements and promoting innovation in the pharmaceutical domain.
- Eligibility: Pharmaceutical startups and researchers.
- Key Features:
- Supports studies related to drug development.
- Aims to improve healthcare outcomes.
- Addresses critical health challenges.
Atal Innovation Mission (AIM):
AIM aims to promote a culture of innovation and entrepreneurship among students, researchers, and startups. It includes programs like the Atal Incubation Centers and Atal Tinkering Labs.
- Eligibility: Students, researchers, startups, and institutions.
- Key Programs:
- Atal Incubation Centers (AIC): Incubators for startups.
- Atal Tinkering Labs (ATL): Encourages creativity and problem-solving among school students.
Biotechnology Industry Partnership Programme (BIPP)
Administered by the Biotechnology Industry Research Assistance Council (BIRAC), the Biotechnology Industry Partnership Programme (BIPP) aims to foster accelerated technology development in high-risk and futuristic areas within the biotech sector. By supporting translational research and innovation, BIPP facilitates collaborations between industry stakeholders and academia, driving the development of novel biotechnological solutions with significant societal impact.