What are Grants?
Central and State Governments and private business corporations provide a range of benefits to entrepreneurs to enable them to cross initial chasm of product development and market introduction. This is a list of grants that we are aware of. If you have any questions about them, please drop a mail to us at i4Mentors@gmail.com
Grants
Ambedkar social innovation and incubation mission
The Objective of this fund is to provide concessional finance to the entities of the SC entrepreneurs. With a view to developing entrepreneurship amongst the SC/Divyang youth and to enable them to become 'job-givers’, Ministry of Social Justice, Government of India had launched the Venture Capital Fund for SCs (VCF-SC) in 2014-15. Under this fund, 117 companies promoted by SC entrepreneurs have been sanctioned financial assistanceto set up business ventures.
NRDC seed funding
The NRDC proposes to participate in the equity share capital of start-up and early stage growth focused, innovative companies. It proposes to invest in innovative entrepreneurs at the crucial stage where the ventures are just getting off the ground. It is high stake investing, which can result in unexpected returns. The NRDC attempts to create the best possible environment for high impact entrepreneurs to start and grow their business. The scheme supports innovations that has the potential to build and shape the development of technology driven entrepreneurs. Through this scheme, the NRDC would select start ups and early stage companies and provides a part of the capital required, as Seed funding to innovators, who prima facie have the potential to develop into significant technical and commercial entities.
NRL - Numaligarh Refinery Limited
Numaligarh Refinery Limited (NRL) in 2017, launched an initiative called ‘NRL iDEATION’ with a mission to provide a robust platform for the startup eco-system in the NE region, by providing incubation, mentoring & funding to ideas based on ‘Original Thinking’.
Orient Mahila Vikas Yojana Scheme
Oriental Bank of Commerce launched the scheme, women with an ownership of 51 percent share capital individually or jointly in a proprietary concern can avail a loan through the Orient Mahila Vikas Yojana. There is collateral required for loans between Rs. 10 lakhs to Rs. 25 lakhs. The repayment tenure of the loan is seven years. Orient Mahila Vikas Yojana Scheme also provides a concession on the interest rate of up to 2 percent.
Dairy Processing and Infrastructure Development Fund (DIDF)
National Bank for Agriculture and Rural Development (NABARD) is an apex development bank in India. The Government of India announced the creation of the Dairy Processing and Infrastructure Development Fund under NABARD in the Union Budget of 2017-18 for the sustained benefit of farmers.
PRISM's Technopreneur Promotion Program (TePP)
TePP provides grants at various stages - conceptualization, fabrication, development, trial, and application upto commercialisation.
SIDBI Fund of Funds for Startups scheme (under Startup India)
The Government of India formed a fund of INR 10,000 Crores to accelerate the growth of the Indian startup ecosystem. The Fund was set up as a Fund of Funds for Startups (FFS). FFS does not invest in startups directly but provides capital to SEBI-registered Alternate Investment Funds (AIFs), known as daughter funds, which in turn invest money in high-potential Indian startups. SIDBI has been given the mandate of managing the FFS through the selection of daughter funds and overseeing the disbursal of committed capital. Funding is provided to startups across different life cycles.
Raw material assistance scheme
Raw Material Assistance Scheme aims at helping MSMEs by way of financing the purchase of Raw Material (both indigenous & imported). This gives an opportunity to MSMEs to focus better on manufacturing quality products.