What are Schemes?

Biotech start up journey, especially for first time entrepreneurs, is full of hurdles, both technological as well as business related such as business plan and market entry strategies, navigating regulatory hurdles, connecting and pitching to VCs and networking with future stakeholders. There is a greater realisation within the biotech community regarding the importance of focused mentorship which can help accelerate nascent biotech start up. BIRAC is therefore envisaging designing and implementing an equity based fund for supporting entrepreneurs in the valley of death.

The programme on Ayurvedic Biology was initiated primarily by the office of the Principal ScientificAdvisor to the Government of India. The programme, now reconceived, is being implemented by the Science and Engineering Research Board (SERB). Against this background, the SERB constituted a Task Force to promote the application of basic sciences in the investigation of Ayurvedic concepts, procedures and products, and nurture the discipline of Ayurvedic Biology.

The programmes under the scheme ‘Export Development and Promotion’ aims to support exporters to adopt high tech processing technologies or to upgrade existing level of technologies for high end value addition and to develop capabilities to meet the changing food safety standards in the importing countries. The scheme also caters to promoting the Indian spices exporter by assisting them in promotion of Indian Goods in International Trade Fairs, Seminars, etc. by reimbursing their  expenditure on the same.

Biotechnology Industry Partnership Programme (BIPP) is a government partnership with Industries for support on a cost sharing basis for path-breaking research in frontier futuristic technology areas having major economic potential and making the Indian industry globally competitive. It is focused on IP creation with ownership retained by Indian industry and wherever relevant, by collaborating scientists. BIPP supports the development of appropriate technologies in the context of recognized national priorities in the area of agriculture, health, bio-energy, green manufacturing, when the scale of the problem has serious consequences for social and economic development. BIPP is an Advanced Technology Scheme only for high risk, transformational technology/ process development. It is for high risk futuristic technologies and mainly for viability gap funding. The uniqueness of this scheme is that it is for "Break through research" which enables product and process development and is patentable, with IP ownership rights resting with industry.

Indian Renewable Energy Development Agency Ltd. (IREDA) has published a revised refinance scheme under the support by The National Clean Energy Fund (NCEF) elaborating about the revival of the operations of existing biomass power & small hydro power projects affected due to unforeseen circumstances

This is a credit linked subsidy scheme for setting up of coir units with project cost upto Rs.10 lakhs plus one cycle of working capital, which shall not exceed 25% of the project cost. Working capital will not be considered for subsidy. The scheme main objective is to facilitate sustainable development of the Coir Industry in the country and is under the ambit of Minsitry of MSME.

The Ministry of Tourism has a scheme for granting approval to hotel projects from the point of view of this suitability for international tourists. A classification committee set up by the Ministry classifies the functioning hotels under the star system into six categories from star one to five star deluxe. Similarly, the Ministry has a scheme of approving Travel Agents, Tour Operators, Adventure Tour Operators and Tourist Transport Operators, the idea being to encourage quality, standard and service in these categories so as to promote Tourism in India.This is a voluntary scheme open to all bonafide agencies.

KITVEN Fund-3 (Biotech) is a SEBI registered Venture Capital Fund having target corpus of Rs. 35.55 crore. The Fund proposes to undertake investments in companies catering to Biotechnology and such other allied sectors within the State of Karnataka. Currently, the Fund has received commitment from State and Central Government firms/ institutions like Karnataka Biotechnology & Information Technology Services (KBITS), Small Industries Development Bank of India (SIDBI) and KSIIDC BIRAC.

SIDBI recognizes the operational and financial challenges being faced by the start-ups and endeavors during COVID-19 Pandemic to provide financial assistance and stability via its scheme viz. Covid-19 Startup Assistance Scheme (‘CSAS’). Purpose: To provide interim support to startups whose cash flow and liquidity has been adversely impacted by the Covid-19 pandemic. The assistance can be used for various working capital requirements like salaries / wages, rent, administrative expenses, payment to vendors etc.  

The startups require intensive networking and information about other business ventures. This scheme provides information on business, technology and finance to MSMEs, and also exhibit core competencies of Indian SMEs. This is done through MSME Global mart - www.msmemart.com. These information is available through annual membership of the portal.A free membership plan is also provided with limited access and services and a Gold membership plan for SC/STs is also provided with full access and services, which is free of charge.

Bio-incubation allows harnessing of the entrepreneurial potential of start ups by providing access to infrastructure as well as mentoring and networking platforms that the start ups could use during their fledgling days. The Startup India Action Plan has necessitate creation of new bio-incubation space that are world class and that can provide cutting edge access to the best bio- incubation environs for propelling innovative ideas towards productization. BIRAC’s focus has been creation of a biotechnology startup environment in the country. It has taken a couple of strategic implementation programmes that span from provide funding to early stage ideas through grants, creation of bioincubators at strategic locations (through BioNEST) and extend mentorship and networking opportunities to startups Through BioNEST, BIRAC has supported 20 bioincubators that are at various stages of operationalization with the cumulative area of 200000 sq.ft. Out of this approximately 100,000 sft space is currently active for incubation. The 20 bioincubators are placed either within academic/research clusters or stand-alone incubators either privately funded or funded by State Governments. The new growth in biotech startups would require either scaling of existing bio-incubation space in current biotech hubs or creation of new bio- incubation space at nascent hubs that have the potential to become bigger biotech hubs in the next decade. Further, the creation of new bio- incubation space should be cognizant about the differential needs of varied nature of biotech startups- especially those that are medtech (including medical electronics hardware), biopharma, agri-biotech and biomaterials.

With Aim of 'Make in India' and 'Zero Defect and Zero Effect' in manufacturing, the government provides credit linked capital investment subsidy. This scheme would facilitate augmenting of investment, productivity, quality, employment, exports and import subsitution in textile industry. It will also indirectly promote investment in textile machinery manufacturing.

Ministry of tourism through this particular aims to project India as a multidimensional tourist destination by inviting the foreign media (stakeholders) to promote the Brand 'India'. This scheme also provides financial assitance to local tourist operators/agencies/travel startups/hoteliers to promote by various activites in NE states and Jammu and Kashmir. The scheme also caters to promotion of unexploited and less visited places. 

Karnataka Semiconductor Venture Capital Fund (KARSEMVEN Fund) is a SEBI registered Venture Capital Fund having a corpus of Rs. 92.95 crore. The Fund proposes to undertake investments in companies catering to Semiconductor, Electronics System Design & Manufacturing (ESDM), Embedded Systems and such other allied sectors within the State of Karnataka

Atal Innovation Mission (AIM) is Government of India’s flagship initiative to create and promote a culture of innovation and entrepreneurship across the length and breadth of our country. AIM’s objective is to develop new programmes and policies for fostering innovation in different sectors of the economy, provide platforms and collaboration opportunities for different stakeholders, and create an umbrella structure to oversee the innovation & entrepreneurship ecosystem of the country.

The Marketing Assistance Scheme was launched with the main aim of improving the marketing capabilities and competitiveness of the Micro, Small, and Medium Enterprises (MSMEs). The scheme was launched by the Ministry of Micro, Small, and Medium Enterprises.

Small Industries Development Bank of India (SIDBI) set up on 2nd April 1990 under an Act of Indian Parliament, acts as the Principal Financial Institution for Promotion,Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector as well as for co-ordination of functions of institutions engaged in similar activities

To setup Idea to Prototype support, NIDHI-PRAYAS program has been launched. It is positioned as a pre-incubation initiative. Under NIDHI PRAYAS, 10 PRAYAS Centres have been setup at various TBIs along with support for establishing PRAYAS Shala and Proof of Concept Grant support for innovators/ entrepreneurs as Prayasee. To inspire the best talents to be entrepreneurs, minimise the risk involved in pursuing start-ups and to partially set off their opportunity costs of high paying jobs.

SFURTI is a Scheme of Fund for Regeneration of Traditional Industries. Ministry of MSME has launched this scheme in the year 2005 with the view to promote Cluster development. KVIC is the nodal Agency for promotion of Cluster development for Khadi as well as for V.I. products. As on date, a no. of 76 Clusters have come up as per the scheme and many of these clusters have been completed. The Revamped SFURTI Cluster will intensify the sustainability of the programme beyond the project period through creation of Special Purpose Vehicle (SPV) or deemed SPV. Further, the revamped guideline has added many new features for all round development of SFURTI clusters

SPRS is a developmental scheme managed by the National Small Industries Corporation (NSIC) for supporting MSE. Undoubtedly, the Indian government is the single largest purchaser of a large array of goods. The objective behind this scheme was to increase the number of purchases from the small-scale sector. By opting for this scheme, NSIC registers the eligible MSEs for participation in government purchases without any Earnest Money Deposit (EMD), which is the money taken from bidders before they place any bid, as a security deposit for ensuring their seriousness in the project.

The scheme aims at creating sustainable entrepreneurship development in the area of Information and Communication Technology (ICT) especially first generation entrepreneurs by fostering nurturing the innovative ideas to commercially viable business prepositions. Entrepreneurs harness the expertise of NSIC in extending hand holding of start-up companies to become successful small enterprises. The scheme also caters to networking between R&D and Industry beneficiaries to create successful commercial ventures.