NIDHI Seed Support System

National Initiative for Developing and Harnessing Innovations (NIDHI) is an umbrella programme conceived and developed by the Innovation & Entrepreneurship division, Department of Science & Technology, Government of India, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups.

What’s in for you

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Office space with internet connectivity, hostel accommodation and mess food will be provided for a two to four-person team

Access to labs and libraries will also be provided

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Depending on internal assessment of the project, iCreate will purchase 7.5% equity at par

This stake will dilute down as the incubated company raises further funds

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Between Rs 25 lakhs to Rs 45 lakhs (depending on the actual need) will be given to the venture

In exceptional cases, after internal deliberations, additional investment can also sanctioned

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There will be a nominal cost to the facilities provided, and this amount will be accumulated at the end of the incubation period and added to the total disbursed amount mentioned in point No. 6

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The total amount disbursed (sum of the amounts mentioned in points 6 and 7) will be treated as an interest bearing debt that the incubated company will have to repay to iCreate

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iCreate will support the incubated company in its efforts to raise investment, however, it retains the right to sell its stake in the company at a time of its own choosing

Subsequent shareholder agreements and share subscription agreements cannot take this right away from iCreate

International Centre for Entrepreneurship and Technology – iCreate is inviting applications for incubation of slightly mature projects, to be incubated at its new Dev Dholera Campus near Ahmedabad, Gujarat. The period of incubation can be up to two years, and iCreate has dedicated a budget of up to Rs 250 lakhs for this round of applications.

If you have been working on an innovative technology / software / product/ service, and have spent time talking to real consumers of your offering, and have created some minimal viable product offering, then apply. We can offer you labs and workshops to finalize your offering, help take it to live customers to make it market ready, and also to mentor you so that you can build a growth organization and start earning serious revenue.

The sole objective of the NIDHI-Seed Support System (NIDHI-SSS) is to ensure timely availability of the seed support to the deserving incubatee startups within an incubator, thereby enabling them to take their venture to the next level and facilitate their success in the marketplace.

The scheme also enables the STEP/TBI to widen their pipeline of startups and also share the success of their startups which would also result in ensuring their long term operational sustainability.

The experience tells us that the normal requirement of seed support is to the tune of Rs. 25 lakhs. However, in few exceptionally deserving startups , the upper limit of seed support to a start up may be raised to Rs. 100 lakhs. A startup supported once will not be eligible for applying for subsequent rounds of seed support to any STEP/TBIs. The STEP/TBI should have examined all cases of seed support before putting the matter up to the Seed Support Management Committee for selection. After the seed support is recommended to an incubatee startup , the terms of agreement with the incubatee start up should be framed by the STEP/TB linking the progress milestones, monitoring norms, reasonable repayment, recovery provisions in case of loan and terms of equity liquidation in case of equity holding by STEP/TBI.


Our Focus Areas

Electric Vehicle

Renewable Energy

Fintech

Internet of Things

Watertech

Agritech

Healthtech

Who can apply

Eligibility criteria for applicants:
  • Only open to slightly mature start-up ventures that have Completed / have advanced substantially on prototyping and have a version of the product / service that can be demonstrated and are between 1 to 3 years old
  • Only open to slightly mature start-up ventures that have Completed / have advanced substantially on operational testing in the market, and have garnered real customer data (even if from a small number of customers) and this customer data should be demonstrable in some shape and form
  • Only open to slightly mature start-up ventures that have Revenue generating start-ups will be preferred
  • Only open to slightly mature start-up ventures that have A business plan that uses technology innovation, and have the potential to scale up to the national / international market
  • The venture should be ideally have been bootstrapped, i.e. funded from own resources, friends and family, and perhaps some small seed funding
  • The venture should be not have received formal funding from investors
  • The venture should be incorporated as a Private Limited Company, or should be capable of getting incorporated upon selection for incubation at iCreate within 45 days of acceptance of the offer
  • The venture should be able to give stipulated equity at par to iCreate, upon joining
  • The venture will be physically incubated at the iCreate Campus, specifically some key process step(s) of the value chain should be based within campus premises
  • The venture will be physically incubated at the iCreate Campus, specifically the key promoter group will need to spend at least one continuous week per quarter on campus

Program Timeline

1 Jul
31 Jul
10 Aug
16 Aug
20 Aug
26 Aug

Application Open - iCreate will start accepting applications.

1 Jul

Application Close - iCreate will close accepting applications.

31 Jul

Announcing Shortlisted Startups - iCreate will contact Startups to organize final evaluation.

10 Aug

Final Pitch - iCreate will organize Final Evaluation cum Pitching Session for selected Startups.

16 Aug

Announcing Final Result - iCreate will contact selected Startups in Final Evaluation cum Pitching Session and start the onboarding process.

20 Aug

Onboarding Startups - iCreate and selected Startups will sign Non Disclosure Agreement and Startup will start working from iCreate Campus.

26 Aug

Our Mentors

At iCreate, we recognise how important good mentors are to guiding, challenging, motivating startups in translating their dreams into reality. We assign each startup a mentor or a group of mentors to shape the desired outcome as per a pre-planned schedule. Seasoned and accomplished technical as well as business mentors guide all our projects with a mandate to drive the startup founders towards achieving mutually determined outcomes.

Mr. Anupam Jalote

CEO, iCreate

With an MBA from Purdue University, Anupam brings a blend of experience both as entrepreneur and intrapreneur, with expertise in strategy, tech innovation, telecom, renewable energy, and tech-led startups. He is also CEO of iCreate.

Dr. Raashid Saiyed

Marketing Consultant, iCreate

With diverse experience across industries, consulting, academia and startup incubation, Dr Saiyed is a CEO coach and mentor to startups, specialising in strategy and marketing. His areas of interest include guiding organisations in building attractive valuation, and articulation of innovations that have distinctive value propositions.

Mr. Shantanu Chaturvedi

Lead Technology Analyst, iCreate

Shantanu is an avid technologist with vast experience in managing prototyping programmes for early-stage startups, end-to-end, from evaluating technologies to helping build a market-ready product. His core competencies include PCB design, circuit design and electronics.

Ms. Avani Patel

Consultant, iCreate

Avani is passionate about business, and is an entrepreneur at heart, with rich cross-sector experience. Her skill-sets include efficient execution of an idea from scratch, business operations, process planning and crisis management.

Mr. Ashish Kanaujia

Technology Innovation Consultant, iCreate

Ashish Kanaujia is known for the conversion of ideas from lab scale to commercial scale. He brings more than 20 years of experience in multiple dimensions of technologies, Ashish’s area of expertise varies from Artificial Intelligence, Internet of Things, and Brain Computer Interface to Healthcare as well as ICT. He has worked as a consultant with various offshore clients and MNCs. Ashish is very instrumental in mentoring startups and already running incubation centres at Greater Noida, Lucknow and Kanpur. Currently, he is mentoring and providing technological guidance to a number of startups at iCreate (a Government of Gujarat TBI). His experience to work with engineers, academicians, patent attorneys and being inventor by himself make him sync well with the new emerging technologies. He has been an expert in software and electronics. He has been instrumental in ideation and implementation of various electronics and software products in different capacities.

Mr. Siddharth Amin

Technology Innovation Consultant, iCreate

Siddharth Amin is a Electronics and communications engineer. As a test pilot, he has clocked more than 10,000 flying hours on Radio Controlled aircraft as well as Unmanned Aerial Vehicles over 25 years. He has also been an instructor for Indian Army personnel for flying radio controlled aircraft as part of their Air Defence Exercises. He was part of Project Eagle Eye. This project involved the development of a UAV for the 21 SATA Regiment of the Indian Army. He has piloted a UAV that validated a Guinness World Record for the world’s longest painting in Vadodara in 2009. He has over 15 years of experience in UAV design and Engineering and have been involved in the Research and Development activities, as well as the design and fabrication of the UAVs. He has developed breakthrough Autopilot Systems, OSD modules and Power Supply Units, that have been used in the company’s products successfully. He has been involved in the design and fabrication of UAV airframes.

Mr. Shantanu Poddar

Marketing and Sales Consultant, iCreate

Versatile, Accomplished Sales Professional with a proven track record in diverse sectors like Telecom, Office automation and currently Automobile.

Testimonials

What our Incubated Startups have to say

From having a dream of starting an ERP service to patenting my own brain scanning device" .....this is the magical journey of iCreate for me. Tremendous patience, freedom to pivot, encouragement to persevere - all of this is what Dr Mehta, Tyagiji and iCreate mean to me!

Shilpa Malik

Founder, Bio Scan Research Pvt. Ltd.

Highly recommend iCreate to entrepreneurs at all stages - it is a place where they work on your thought processes, so that you can enter into a zone and find your path to excelling". Special thanks to Tyagi Sir, Madhu Sir and Lavania Sir who have contributed in my life in an unmeasurable way for good

Arun Nagpal

Founder, Lithe technologies

iCreate has been more than an incubation centre - it was the perfect place to test our ideas and products. There was a tremendous amount of co-learning which I have realized in our journey post iCreate

Vaibhav jain

Founder, Hubilo

Without iCreate, I believe, my entrepreneurial journey would have been a lot more challenging. It was a great help that the insights and advice of seasoned and successful entrepreneurs was available on call

Deepak Gupta

Founder, PurpleDocs

Changing environment reiterating the need and importance of quick and reliable technology solutions in accordance with local needs.