The Scheme provides opportunity to the innovators in developing and nurturing their new innovative ideas for the production of new innovative products which can be sent in to the market for commercialization
• To promote emerging technological and knowledge based innovative ventures that seek the nurturing of ideas from professionals.
• To promote and support untapped creativity of individual innovators and also to assist Individual innovators to become technology based entrepreneurs.
• To promote networking and forging of linkages with other constituents of the innovation chain for commercialization of their developments.
Host Institutions (HI) are exploring the new innovative ideas from the Incubatee of various sectors that may be existing and prospective entrepreneurs. Even the students from the various streams are also participating in nurturing their new ideas through the Host Institutions as a part of their studies and career building.
GoI financial assistance of 75 % to 85 % of the project cost up to the maximum of Rs. 8Lakh. This fund is routed through the Business Incubator (BIs).
IITs, NITs, Engineering Colleges approved by AICTE, Central / State Universities recognized by UGC and other recognized R & D and / or Technical Institutes / Centres, Development Institutes of DIP&P in the field of Paper, Rubber, Machines Tools, etc.