BIRAC VITTBI SEED Funding
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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

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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

OCI or PIO) and under BIRAC SEED Fund.

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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