IIT Delhi and Foundation for Innovation & Technology Transfer (FITT) invite proposals from Innovators/Start-ups working in deep technology domains for admission to PHD Incubator Program (Platform for Harnessing Deep Technologies).

About the Program:

This programme provides comprehensive support for converting your idea into a startup, including free incubation and accommodation to the budding entrepreneur as well as funds for the prototype development/proof of concept.

The primary aim is to provide a strong foundation to high-risk innovative projects in the deep tech domains to achieve and validate POC. The scheme execution would be designed in a manner to ensure only qualified and genuinely interested professionals can apply for the award that offers initial support to the tech entrepreneurs.

Eligibility:

In terms of proposals

Concepts/ideas relating to deep technologies in all areas of science and engineering and having strong translational/commercial prospects.

  • A product or process innovation with substantial market potential/disruption.
  • Having clear objectives in terms of validating their proof of concept.
  • Projects focused on generating the necessary scientific data needed for derisking i.e., reducing uncertainties in the technology, which in turn will be helpful to demonstrate it to investors/ funding programs for startups.

Criteria for the Project Leader

  • The Entrepreneur Project Leader/ Principal investigator / must be an Indian citizen and technically qualified to undertake the project.
  • The Project Leader must have completed postgraduate training in sciences or engineering.
  • The desirable qualification will be Ph.D./MD. The essential qualification is MTech/MBBS/ M Phil/M Des/M Pharm and equivalents with undergraduate training in Science/ Engineering.
  • Entrepreneurs with an MSc/B. Tech degree with at least 2 years of full-time entrepreneurship or R & D experience shall also be eligible.

Criteria for eligible startups

  • The company should be registered under the Indian Companies Act, 2013. The date of incorporation must be within the past 3 years from the date of application to the program to qualify as a startup for this program.
  • The cash inflow in terms of funding/grants/revenue from sales or operations should not be exceeding Rs. 1 cr. in any fiscal year since its incorporation. Majority stake (>51%) and control of the startup company should be held by resident Indian citizens.
  • The major shareholders/ promoters or directors (having >20% stake) should not
    be directors/promoters of ineligible companies. This may be waved off only in
    case of bonafide serial investors.
Support Provided:
  • Financial support up to Rs. 50 Lakhs will be provided as a grant in aid. In exceptional cases, additional funding can be considered.
  • Free boarding and lodging for the project leader at the SRI. Other team members can avail accommodation at the facility on a paid basis.
  • Incubation space and support will be provided as per institute norms regarding the engagement and equity terms according to institute guidelines.
  • The Entrepreneurs will get the technical advice and mentorship from the Institute’s faculties who can work as scientific advisors with the startups.
How to apply?
  • Click here for the application form.
  • The duly filled soft copies can be submitted by email to FITT at ashutosh.pastor[at]fitt.iitd.ac.in
Application Deadline:

May 15, 2019.

Contact:

The office of Managing Director, FITT
Email: mdfitt[at]gmail.com, ashutosh.pastor[at]fitt.iitd.ac.in
Phone: +91-11-26857762

Apply Now   Official Link

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