BIRAC VITTBI SEED Funding – Get Up To Rs. 30 Lakhs Funding
BIRAC VITTBI SEED Funding – Get Up To Rs. 30 Lakhs Funding. Sustainable Entrepreneurship and Enterprise Development Fund. Interested and eligible applicants can check out all of the details on the same below
This call expires in
VIT-Technology Business Incubator (VITTBI), VIT, Vellore-632014
Biotechnology Industry Research Assistance Council
SEED (Sustainable Entrepreneurship and Enterprise Development) Fund
VIT-Technology Business Incubator (VITTBI) is launching the second round of “Sustainable
Entrepreneurship and Enterprise Development Fund(SEED) ” (SEED) of the Biotechnology
Industry Research Assistance Council (BIRAC).
This SEED Fund would be provided to start-ups with innovative technologies having good
commercial viability. This support would facilitate the start-ups to progress to the next level
of the venture building process and in most cases would enable them investment ready.
Quantum of financial assistance to one start-up will be up to Rs 30 lakh
The SEED fund could be utilised for the following activities –
- Product development
- Testing and validation
- Marketing
- Mentoring
- Consultancy
- Patenting/trademarks etc.
- Team building
- Other activities if recommended by the Investment Committee.
The SEED fund is only for start-ups with minimum 51% ownership by Indian citizens (does
not include
General terms for seed funding –
- A selected startup should be willing to sign incubation agreement with VITTBI or
already an incubatee of VITTBI at the time of seed fund investment - Investment mode – Equity ownership in a private limited company
- Equity stake for seed fund: Up to 10% / equity related instruments
- Investment amount – Up to 30 lakh
- VITTBI representation – 1 Board Nominee Director and/or observer of VITTBI
BIRAC SEED Fund beneficiaries –
Interested start-ups are encouraged to contact for further information [email protected] / 0416-2202301/03
Read More – Golden Opportunity For Budding Bioentrepreneurs
Click here for Application Format
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