Seed Capital |
Technopark TBI has been selected for the ‘Seed Funding Grant, an amount of Rs.200 Lakhs’ by NSTEDB, DST, GoI . With the Seed Grant T-TBI is able to provide Seed Capital Assistance to the Incubatees on need basis as soon as the amount is released by DST. The first installment of Rupees Hundred Lakhs has been released.
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| SEED SUPPORT SYSTEM |
| The Seed Support System Programme is designed to foster the formation and development of innovative, technology-based business enterprises that will stimulate the economy of the State of Kerala through venture creations, increased employment and leveraging of private investment. |
| The Seed Support System primarily supports the incubation companies on the following: |
- Product Development
- Testing & Trials
- Test Marketing
- Mentoring
- Professional consultancy (To attract professors of institutions to work with small firms)
- IPR Issues
- Manpower for day today operations
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| ELIGIBILITY |
- The enterprises' principal place of business is located in T-TBI, Technopark campus.
- The enterprise must possess a fully developed, well defined business plan.
- The project of the enterprise must be scientific and/or technological in nature and promotes the objectives of T-TBI by providing benefits of science and technology to the State of Kerala and its citizens.
- T-TBI will not consider requests from an enterprise for Seed Support System funds for an amount in excess of Rs. 50 Lakhs
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| APPLICATION PROCESS |
- Preliminary Application
- Invitation for a detailed application
- Evaluation of the Application will be done by the Expert Advisory Committee
- The eligible company needs to sign a legal agreement with Technopark-TBI
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| DISBURSEMENT |
- The Seed fund is disbursed in THREE EQUAL installments
- Moratorium period is 1 YEAR
- Release of First Installment - One third of the Sanctioned Seed fund on signing the agreement
- Release of Second Installment - After submitting the UC & SE of the 1st installment.
- Release of Third Installment - After submitting the UC & SE of the 2nd installment.
- (Audited U/C & SE of the installment shall be submitted within 3 months from the dt. of release of each installment)
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| REPAYMENT |
- Principal amount Repayment shall start after the moratorium period (1 year)
- In 24 EMI (Equal Monthly Installments).
- It shall also be paid before 15th of every month.
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PAYMENT OF INTEREST |
- 6% interest shall be charged every month from the date of release of first installment before 15th of every month.
- Additional 1 % interest shall be charged on defaulters
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Preliminary Application ( Download )
Detailed Application ( Download ) |
