Selection Criteria
- Technology / Product should be at deployment stage
- Potential for social / sustainable impact (e.g.How much carbon emissions will be sequestrated? How many jobs created? )
- Team capabilities & background
- Knowledge intensity or novelty or IP potential
- Technology readiness (market entry, regulatory compliances and ready for commercialization)
- Execution & commercialization plan (commercial viability)
- In alignment with government schemes
- Exceptional cases may be considered on its merit by the committee
- Any others as decided by the committee
Additional Criteria
- If selected, the applicant will become an incubatee of Venture Center after fulfilling the admissions criteria. Venture Center will execute appropriate agreements with the grantee.
- The applicant should be an incubatee of Venture Center for the entire duration of the Project.
- The applicant should be engaged in the projects related to focus Areas
- The PL and Applicants should not have received another grant for the same objective and scope of the project.
- Maximum grant support will be Rs 20 lakhs per grantee.
- Project duration: Maximum of 3 months
- Release of funds: Venture Center shall release funds in tranches of 90% and 10%against specified milestones
- The grant can be used for the following indicative heads:
- Outsourcing charges for R&D/ design engg/ consultancy/ testing/ experts
- Raw materials/ consumables/ spares
- Fabrication/ synthesis charges of working model or process
- Manpower (Max 10% of approved project cost)
- The grant cannot be used for the following heads:
- Pay/ repay any loans/commitments made before signing the project agreement
- Pay rent or related costs for own accommodation
- Creation of new infrastructure facility, shed etc
- Expenses incurred before the start date of the project
- The Grantee has to ensure that he/she/they have all required IP rights (if applicable) (including any license or assignment) to take the technology ahead. The Grantee may also be required to ensure that they will have Freedom to Operate. This requirement may be a Condition Precedent to release of the Grant. Grant funds cannot be used to seek/procure a technology license/assignment
What will not be supported through this Social Entrepreneurship Grant?
- Ideas or concepts/exploratory research ideas that have not been proven and projects with no element of novelty
- Solutions that require long term (>5yrs) development
- Proposals without preliminary data and technology commercialization objectives
- Commonly known solutions such as composting or vermicomposting
- Proposals focusing on construction and demolition waste, mining waste, e-waste and hazardous waste
- Projects with no plan towards saleable (implementable) technology/ products/services
- Funding cannot be used to support PhD student research or any other academic research. The grant is not a research fellowship.