Fostering tech-based entrepreneurship, India strengthens its innovation ecosystem with game-changing programs that extend from idea to incubation.
Union Minister Dr Jitendra Singh, in an insightful dialogue with the Rajya Sabha, illuminated the Department of Science & Technology’s dedication since 2016 towards nurturing Indian startups. Spearheaded by the flagship NIDHI initiative, the nation’s innovation landscape is reshaping, catering to emerging tech entrepreneurs with financial backing, state-of-the-art infrastructure, and mentorship. This revolutionary incubation support echoes imminent technological breakthroughs and business collaboration prospects.
The Department of Science & Technology’s umbrella program NIDHI (National Initiative for Developing and Harnessing Innovations), launched in 2016, is gearing up to fortify India’s innovation ecosystem. “The NIDHI program supports innovations, startups and incubation at various levels,” Singh explained.
Through initiatives like NIDHI-PRAYAS and Entrepreneurs-In-Residence Program, the government provides essential mentorship and financial support to innovators and students opting for entrepreneurship. To promote early-stage startups, the NIDHI Seed Support Program offers seed funding, and the NIDHI Accelerator program accelerates investment readiness.
The Minister emphasized that these initiatives have helped create cutting-edge infrastructure for incubating startups in technology sectors. He mentioned the role of the Council of Scientific and Industrial Research (CSIR) in developing state-of-the-art Incubation facilities and handholding entrepreneurs and startups.
“CSIR is one of the leading R&D organizations in the country to set up Incubation Centers across its labs using innovative models,” said Singh. CSIR’s Common Research and Technology Development Hubs have been established to support MSMEs, startups and individual innovators.
Other departments, like the Department of Biotechnology and the Ministry of Defence, have also initiated schemes to encourage startups, innovators and technologists. The Technology Incubation and Development of Entrepreneurs (TIDE 2.0) Scheme under the Ministry of Electronics & Information Technology is one such initiative that promotes tech-based entrepreneurship.
The promotion of agri-tech startups is done through the National Agriculture Innovation Fund of ICAR, which has established Agri-business Incubator centres in 50 Institutes.
These governmental initiatives have resulted in the establishment of 40 NIDHI TBIs and 20 NIDHI Inclusive TBIs for extending incubation and mentoring support to innovative startups. “Through CSIR incubation centres, 300 startups have been supported so far,” informed Singh.
The Department of Science & Technology has ensured the success of an established network of STEPs & TBIs by supporting the virtual incubation of startups. The NIDHI-PRAYAS extends support at the pre-incubation stage, and NIDHI-SSP provides early-stage funding to incubated startups.
In an effort to motivate students to become job providers, the NIDHI Entrepreneurs-in-Residence program has been initiated. “The iTBI program has helped increase entrepreneurial inclusiveness in terms of geographies, gender and persons with special abilities,” stated Singh.
These plans reveal India’s robust strategy to nurture its tech-based entrepreneurial landscape. The global tech industry watches closely as the country ramps up its commitment to startups.
