Business Incubator for Fostering of Innovative Ideas & Entrepreneurial Development (BIFIED-IAHT)
Main objective of the scheme is to promote & support untapped creativity of individual and to promote adoption of latest technologies in manufacturing as well as knowledge based innovative MSMEs.
Financial support up to Rs. 15.00 lakh to HI for nurturing of an idea. This support will be given in two instatements of 70% and 30%.
Any person as individual or MSME, having the innovative ideas are eligible to avail the benefits of this scheme. The person should have innovative sort of idea which can be converted into prototype and further in business activity. The person is being called incubatee.
There is no qualification var to become incubatee. However, MSME should have valid Udyog Aadhar Memorandum (UAM) and individual should have Aadhar card number.
Host Institutes(HI) will set up Business Incubator (BI) and provides the space, equipment's lab and all the auxiliary support to the incubatee for nurture of his ideas for the business activities.
The perosn (incubatee) should get attach with any Host Institute (HI) for nurturing of his idea in business incubator (BI) being set up by HI.
Financial support for all activities will be given to HI only and no funds can be transferred to incubatee's account.
If any facilities of plant & machinery which are essential for nurturing of idea and same are not avaliable in other places. Incubatee can utilize these facilities on pay as usage basis through HI/BI only.
Expenditure can be incurred on items essential for nurturing of idea like using palnt & machinery, raw material, testing charges, marketing support, charges towards mentoring etc. However, all such components should be mentioned in the proposals which needs approval of compentent authority.
HI will submit its proposals for approval as HI, idea, seeking assistance for capital grant and seed etc. through online MIS which will be examined initially by Implementing Agency(IA) in 15 days. After its initial scruting, IA will recommend it to National Monitoring and Implementation Unit (NMIU). A Committe at NMIU will further examine and recommend eligible proposals to O/o DC (MSME) for final approval of Project monitoring Advisory Committe(PMAC).
Interested one can contact at BIFIED-IAHT Help Desk or Email at iatldh@iapht.org