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Idea2poc (Proof of Concept) Grant

09-Dec-2022 12:35:50
Incubation and Acceleration

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Scheme Provider :
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Sector :
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Incubation and Acceleration, Funding

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States :
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Karnataka

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Eligibility :
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Vertical :
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Funding

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Link for enrollment :
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https://startup.karnataka.gov.in/elevate
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Link to scheme information :
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Link to government website :
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https://startup.karnataka.gov.in/docs/Idea2PoC_OPG_Doc.pdf +
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Details :
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‘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.

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Introduction :
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Gender :
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Female, Other

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Implementing Agency :
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Startup Karnataka

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Target Audience :
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Entrepreneurs

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Incubation and Acceleration

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Funding

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Relevant schemes (6)

Integrated Cold Chain and Value Addition Infrastructure

MMSME Champions scheme

Self Reliant India (SRI) Fund - Empowering MSMEs for Aatmanirbhar Bharat

Training Scheme

Grant-in-aid to Voluntarv and other Organizations for Scheduled Castes

Assistance for Skill Development of Other Backward Classes (OBCs)/ De-Notified, Nomadic And Semi-Nomadic Tribes (DNTS)/ Economically Backward Classes (EBCs)

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