The basic idea of seed support is providing financial assistance to startups with new and meritorious ideas, innovations, and technologies. This would enable some of these innovative ideas/technologies to graduate to a level where they will be able to raise investments from angel/Venture capitalists or they will reach a position to seek loans from commercial banks /financial institutions. Thus the proposed seed support is positioned to act as a bridge between product development and commercialization of innovative technologies/products/services.
To ensure timely availability of the seed support to the deserving incubated startups, thereby enabling them to take their venture to the next level and facilitate their success in the marketplace.
To bridge the gap between product development and commercialization.
To enable the incubator to assist the startups in reaching a level to raise investments from angel/Venture capitalists or onto a position to seek loans from commercial banks /financial institutions.
Can utilize the funds for the following purposes: