CSVTU-FORTE

DST-NIDHI I-TBI, CSVTU BHILAI

About NIDHI i-TBI, CSVTU Bhilai

National Initiative for Developing and Harnessing Innovations (NIDHI) is an umbrella program conceived and developed by National Science & Technology Entrepreneurship Development Board (NSTEDB), Department of Science & Technology (DST), Government of India, for nurturing knowledge-based and technology-driven ideas and innovations into successful startups. Inclusive-TBI (i-TBI) at CSVTU Bhilai is an initiative supported by the DST-NIDHI to foster innovation and entrepreneurship culture among the students, faculties, innovators, entrepreneurs and nearby communities through incubation.

It is expected that students, innovators and entrepreneurs will take up innovative ideas/projects and with mentoring support from CSVTU and startup ecosystem, try to build a startup around the innovative idea/project. The outcome of the i-TBI shall be converting ideas into startups. i-TBI would also create a culture of innovation & entrepreneurship in CSVTU and nearby geographies. i-TBI will be equipped with grants-in-aid funding support to innovators to convert ideas to prototype and prototype to startups.

Objectives of the i-TBI, CSVTU Bhilai

To motivate and encourage institutions primarily from the technical domain to create a culture of innovation driven entrepreneurship among academia including students and faculties.
To build a vibrant innovation ecosystem that leads to the creation of a startup culture in the nearby regions.
To enable and build a network between academia, investors, mentors, industries, and other institutions to promote startups.
To provide grants-in-aid funding support to innovative ideas and convert them into prototypes and further to startups.

Ignition Grant under i-TBI, CSVTU Bhilai

i-TBI CSVTU Bhilai will provide Ignition grant (grants-in-aid), a funding support to innovators/ start-ups to convert their ideas into prototype/products that have potential for commercialization. The maximum funding support to an innovator/start-ups under this scheme will be up to Rs. 10 lakhs, however the final amount is subject to the approval of the selection committee. As an expected outcome, around 30 startups would be nurtured and supported by i-TBI in a span of three years of its operation.

Selection of Innovators / Startups

The i-TBI shall invite the proposal from Innovators / start-ups through open call for providing ignition grant. i-TBI CSVTU Bhilai will constitute a Screening and Monitoring committee to select the innovators / start-ups on the basis of certain parameters. This committee will ensure the smooth implementation of the program including the selection of innovators for ignition grant and monitoring their progress. The i-TBI would evolve a transparent system for selection of incubatees. The incubatees will be admitted fulfilling the required criteria. i-TBI will execute appropriate agreements with the incubatees.

Following General and Eligibility Criteria may be follow for selecting the Innovators / start-ups for ignition grant:-

General Criteria

The ignition grant shall be for development of prototype/products.
The ideas and innovations should be based on technology and science.
The product prototype has to be a physical product.
Idea or Innovations should have a roadmap towards commercialization.
Prototype must be capable of being completed within 12 to 14 months.
The ignition grant support can be provided – min Rs. 2.00 lakhs to max. up to Rs. 10 lakhs to the innovator/startup
Applicants can be individual innovators or early-stage startups.
The IP generated if any, should vest with the Innovator or the Start up.
Applicants will have ownership of the Project knowhow or IP of the proposed products or right to use knowhow or IP if it is owned by a third party.
Innovators should have technical skills or background.

Eligibility Criteria

An individual innovator without having a startup or founder of a startup can apply for ignition grant.

(A) In case of an applicant being an individual innovator without having a startup applying for grant:
- The applicant has to be an Indian Citizen with a government approved proof of nationality such as a valid passport, voter’s id etc.
- The applicant should be minimum of 18 years of age, as on the date of application.
(B) In case of an applicant being a co-founder of a Startup applying for grant:
- The applicant has to be an Indian citizen with a government approved proof of nationality such as a valid passport, voter’s id etc.
- The applicant should be minimum of 18 years of age, as on the date of application.
- The startup should be incorporated in India with a minimum 51% of its equity held by Indian citizens.
- The startup should not be more than 2 years of existence.

Implementation of i-TBI at CSVTU Bhilai

The CSVTU Foundation for Rural Technology and Entrepreneurship (CSVTU-FORTE) is a Section-8 Company under the aegis of CSVTU Bhilai. Its mission is to incubate start-ups and support entrepreneurs aspiring to evolve social inclusive business models leveraging grass-root level Technologies and Innovations. CSVTU-FORTE will serve as a special purpose vehicle (SPV) to implement the i-TBI at the university. CSVTU has leased a dedicated space of 20,000 square feet to CSVTU-FORTE for incubation which will be housing the common facilities, Fab lab, Prototyping laboratory, meeting rooms, video conferencing facility, computer lab and server room, co-working space with high bandwidth net/WIFI, recreational facilities, etc. as per the guidelines of NIDHI i-TBI.

The i-TBI, CSVTU Bhilai would have a dedicated staff including a Head/CEO & an incubation manager with domain knowledge and required expertise, working full time for i-TBI.

Governing Body of i-TBI, CSVTU Bhilai

The Governing Body of i-TBI, CSVTU Bhilai has following composition:-

Patent Expert/consultant
Alumni Entrepreneurs
Experts from nearby industry association
Startup Ecosystem expert
Expert from Financial institution/investor/angel investor/nearby bank
DST representative
Head of nearby existing Technology business incubator
Representatives of the Host Institute (CSVTU Bhilai)

The Governing Body will be chaired by Head of the Institute (Vice Chancellor, CSVTU Bhilai). The composition of the Governing Body of i-TBI, CSVTU Bhilai can be found here: http://www.csvtuforte.com/governing.php

Governing Body Meeting Schedule

The Governing Body of the i-TBI, CSVTU Bhilai would meet at least every quarter to review progress of the i-TBI and provide policy guidelines for the operations of i-TBI to attain projected milestones. The Governing Body would provide adequate autonomy and flexibility to the Head/CEO of the i-TBI for making speedy & transparent decisions.

DST-NIDHI I-TBI