Indigram Labs Foundation (ILF), a technology incubator and accelerator is enabling a DST seed fund support system for promising start-ups with a corpus of Rs 10 crore under the scheme “National Initiative for Developing and Harnessing Innovations – Seed Support System (NIDHI-SSS)” of the Department of Science and Technology (DST).
Indigram Labs is an agriculture ecosystem focused where technological, social, financial solutions are encouraged. Start-ups with innovative and executable ideas/products oriented to Agri sector are welcome to apply for this opportunity through the Indigram website. All the facilities and support provided by ILF are enlisted on the web portal.
NIDHI seed support is a system for providing financial assistance to potential start-ups with promising ideas, innovations, and technologies. This will help a few of the incubatee start-ups with innovative ideas and or technologies to graduate to a level where they will be able to raise investments from Angel Investors or get a loan from commercial banks /financial institutions. This funding mechanism narrows the gap between development and commercialization to a great extent.
The first meeting of the Executive/Management Committee under the scheme “NIDHI Seed Support System” from NSTEDB, GOI was held on September 09th, 2019 at ILF where several top-level government officials from Department of Science and Technology (DST) and other renowned businessmen comprised the selection committee.
Dr. Manisha Acharya, CEO, stated “Just like a seed is required for a planting a tree, this NIDHI seed fund will help our startups for their early-stage funding requirements which will help them to raise further funds and to scale up.”
Out of 45 applicants, the 5 (Five) applicants were selected for the presentation of the proposed seed funds. The following five shortlisted start-ups presented their business plan in front of the selection committee.
The members appreciated each of the company’s growth, so far, and opined that the innovative platform of the company will be really useful in future for tractor related products and services. The maximum investment cap of Rs. 25 Lakhs as NSTEDB seed fund was decided for investment in each of the Companies.
Indigram Labs is one of India’s leading agribusiness incubators based in New Delhi and ILF aims at fostering and nurturing viable business ideas through the process of consulting, mentoring, leveraging technology tie-ups and giving access to various platforms.