Startup Contest-Nidhi-Prayas-Vel Tech TBI

Reward: Funding support

Nidhi-Prayas: In the current climate of innovation in India, there is support for the R & D of ideas and the marketing of products, especially for those provided by STEPs and TBIs promoted by NESTEDB of DST. However, the main objective of STEPs and TBIs is to take advantage of innovations and technologies for business creation by using the expertise and infrastructure already available from the host institution, whether it is act as a university, technical or management institution, or a technology and research park.

There is a profound lack of support for early stage prototyping in the country, which has led many innovators to lose interest in their projects in the absence of support at this critical time. Even start-up financing mechanisms in STEPs and BITs, although funded internally or by the government, tend to be more focused on marketing and the market side of the joint venture, rather than the development of the remaining intellectual sides of startups and incubator clients.