BioNEST- Panjab University (BNPU)
Invites
2nd Call for Proposals
Sustainable Entrepreneurship and Enterprise Development Fund (SEED
Fund)
Funded by BIRAC, New Delhi
BioNEST- Panjab University (BNPU) – as a BIRAC SEED fund partner provides capital
assistance to the tune of up to ₹30 Lakh to strengthen start-ups with new and meritorious
ideas, innovations and technologies for bio-incubation in the region over a period of twentyfour months (w.e.f. the date of the start of the project which would not be more than 8-10
weeks from the date of sanction).
The BIRAC SEED Fund support to start-ups is to act as a bridge between promoter’s
investment and venture/angel investment for enabling start-up to attain sustainability in the
long run.
The salient features/ terms for the usage of fund support under the BIRAC SEED Fund
scheme are as under:
1) Seed fund of up to Rs.30.00 lakh per start-up – selected on merit, as the early-stage fund
(refundable) against equity support of up to 10% of the paid-up capital of the start-up can
be extended to support product development, process development, innovation and
commercialization.
2) The selected start-up must qualify the “Start-up” category –
a) It must be an Indian Start-up (registered under Companies Act, 2013)
b) It must have at least 51% shareholders as Indian Citizens
c) The seed support shall be open to all eligible applicants regardless of their affiliation
with the BioNEST bio-incubator
d) Up to five years from the date of its incorporation/registration
e) Its turnover for any of the financial years has not exceeded Rs. 25 crore
f) It is working towards innovation, development, deployment or commercialization of
new products, processes or services driven by technology or intellectual property.
3) Applications shall be considered by a BIRAC SEED Fund ‘Advisory Team Cum
Selection Panel’ which shall have a BIRAC nominee as a member along with experts in
relevant domain.
4) Selection will be done within 2-3 months from the last date of the submission of
applications.
5) Successful applicants shall enter into a governing agreement with BioNEST-PU which
shall incorporate provisions for “Exit” from the start-up. The Agreement shall have
provision of one Board observer position for the BIRAC/ BioNEST nominee in the
beneficiary start-up.
The application form is provided on the next page.
Duly filled form may be submitted by 5:00 p.m. till 21st August 2023 by email
(bionestpu@pu.ac.in)
https://jobs.puchd.ac.in/includes/jobs/2023/20230725114434-SEED%20fund%20ad%20for%202nd%20Call%20for%20proposals.pdfSubscribe our Twitter Channel to get Latest and more updates: Join Now!
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