Scheme Name: Idea2poc (Proof of Concept) Grant

State: Karnataka

Description of the Scheme: Provide early stage funding to ideas or concepts which are yet to establish the POC in the real world. ?Idea2POC? initiative is part of India?s first multi-sector startup policy launched by state. Encourage innovators who may need early-stage funding to stimulate commercialisation of their inventions and to help in validating POC. Enable technology innovators and entrepreneurs to pursue a promising technology idea and validate POC. Idea2POC is given in the form of grant-in-aid but limited to a one time grant of up to Rs.50 lakhs. Funding shall be released in tranches as per the project milestones agreed in the MoA between startup and KBITS.

Target group :

Sector of the Scheme:

Eligibility Criteria:

Nature & Mode of Assistance:

Corpus: Up to Rs.50 lakhs for selected ideas

Funding support offered is in the form of grant-in-aid.

1. Funding level is up to Rs.50 lakhs.
2. Fund disbursement is milestone based and is released in installments over a maximum period of 2 years. Proposed project duration cannot exceed 2 years.
3. Scheme implementation partner will be identified for non- BT startups herein after referred to as Implementation Partner (IP)
4. Scheme implementation partner will be Bangalore Bio Innovation Centre for BT startups herein after referred to as Implementation Partner (IP)
5. MOU will be signed between KBITS and Implementation Partner

"Financial Information (Subsidy, low interest rate, etc.)":

"Other Assistance (Procurement of machinery, Technology /Marketing, International Cooperation, etc.)":

How to apply:

Process to avail: Short listing through evaluations by the panel of judges and presentations before Idea2PoC committee.

Call for proposals by Startup Cell, KBITS:

• Launch the call for Idea2PoC twice every year.
• Call for proposals will be open for a minimum of 7 days
• Applications will be screened for data sufficiency/eligibility criteria by Startup Cell and then sent for evaluation

Where to apply: http://startup.karnataka.gov.in/elevate

Whom to Contact: