Idea2poc (Proof of Concept) Grant
09-Dec-2022 12:35:50Incubation and Acceleration, Funding Karnataka All Funding ‘Idea2POC’ initiative is part of India’s first multi-sector Startup Policy launched by the Government of Karnataka in November, 2015. The objective is to encourage innovators who may need early-stage funding to stimulate commercialization of their inventions and to help in validating Proof of Concept. The scheme enables technology innovators and entrepreneurs to pursue a promising technology idea and validate proof
-of concept (PoC). Idea2POC is given in the form of Grant-in-aid but limited to a one time grant of up to Rs. 50 lakhs. Funding shall be released in tranches as per the Project milestones agreed in the MoA between Startup and KBITS.
-Support under the scheme:
-o The funding support offered by the Department under this scheme is in the form of grant-in-aid.
-o The funding level is up to Rs. 50 lakhs.
-o The fund disbursement is milestone based and is released in installments over a maximum period of 2 years. Proposed project duration cannot exceed 2 years.
-o Scheme Implementation Partner will be identified for non-BT startups herein after referred to as Implementation Partner (IP)
-o Scheme Implementation Partner will be Bangalore Bio Innovation Centre for BT startups herein after referred to as Implementation Partner (IP)
-o MOU will be signed between KBITS and the Implementation Partner
-Eligibility Criteria for Start-ups and Individual Applicants
-o The Applicant shall be a Startup as per definition in Startup Policy.
-o The Applicant need not necessarily be incubated for being eligible for the Idea2POC grant assistance.
-o For BT startups: The startup must own functional in-house R&D facilities that are adequate to implement the project. If not, then on selection it shall get incubated at an incubator (in biotech area like BBC/CCAMP/IISC) with functional and adequate laboratory facilities.
-o The startup that has already received support under this scheme once is not eligible for receiving funding again under this scheme. Female, Other Startup Karnataka Entrepreneurs Incubation and Acceleration FundingScheme Provider :
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