Startups

NIDHI4COVID 2.0

NIDHI4COVID 2.0 - An Initiative By, National Science & Technology Entrepreneurship Development Board (NSTEDB), Department of Science & Technology (DST), Government of India

NIDHI4COVID2.0 initiative has been specially devised as a rapid response to support startup driven solutions, which would be helpful in tackling the current challenging, second wave of Covid 2.0 in the country. NIDHI4COVID2.0 is a special drive of National Science & Technology Entrepreneurship Development Board (NSTEDB), Department of Science & Technology (DST), Government of India (GoI) for supporting indigenous solutions and innovative products which would enable our country to fight against COVID-19 pandemic more strongly. In the current situation startups can play a major role in bringing new technologies and products in the market, thus making our country stronger at various fronts against the ongoing war on COVID. Some of the startups already have promising technologies but need mentoring, financial and marketing support to go to the next level. Thus, DST's attempt through this new initiative is to scout and support deserving startups with much needed support to scale up their technologies, helping them reach the product deployment stage as fast as possible.

Thrust Area to be supported

  • Oxygen Innovation
  • Portable Solution
  • Relevant Medical Accessories
  • Diagnostics
  • Informatics
  • Others

Eligibility

  1. The applicant startup must be a startup/company registered in India. Startup having a formal association with the incubator (Any central and state government supported incubators) in its resident or virtual incubation program would be preferred.
  2. Startups should be less than 10 years in existence.
  3. The startup having DPIIT recognition with Startup India would be preferred. In case the startup does not have DPIIT recognition while applying in the NIDHI4COVID 2.0 program, the startup may ensure to get DPIIT recognition as soon as possible.
  4. Founders of the applicant company should have at least 51% Indian shareholding, and should be having a competent team in place, preferably with domain expertise.
  5. The applicant startup should have developed a clear product to market fit, customer discovery with clarity on intended customers and value propositions for its targeted customers.
  6. Preferably at a revenue stage or has raised funds earlier.
  7. Preferably to have already deployed or ready to deploy a product within a few weeks.
  8. Innovative solutions at conceptual stage requiring funds for prototype development would be directed towards NIDHI PRAYAS program in line with the program guidelines.

 

Key information and along with list of documents to be submitted by the startup while filing the application form:

  • Product working principles indicating the current product development stage and milestones to be achieved from the fund required.
  • Business plan
  • Endorsement from the applicant regarding incubation support/ affiliation from GoI / State supported incubator.
  • Certifications/approvals applied/pending or received.

The following documents will be required from the startups by the implementing TBIs for evaluation:

  • Company Registration certificates (CoI, MoA, AoA)
  • Shareholding pattern
  • GST registration certificate
  • KYC of promoters – Aadhar card and PAN Card
  • Balance sheet (If applicable) and Bank account statement last 6 months.

Funding Mechanism

  • Startups whose technologies/products are of huge importance in our ongoing fight against COVID, after undergoing due evaluation process would be considered for Seed Support through DST supported network of TBIs.
  • Financial and mentoring support would be offered to recommended promising startups for scaling up their products/technologies to the next level and speeding up their processes, helping them reach the product deployment stage as fast as possible.

Mode of Application: Online through portal  

https://dstnidhi4covid.in

Last Date of Application: The last date of application is 31.05.2021 23.59 h

For more info: https://dstnidhi4covid.in/