SRMIST Ramapuram Campus Business Incubator recognized by Ministry of MSME, GOI
Ministry of Micro, Small & Medium Enterprises (MSME), Government of India has recognized SRM Institute of Science and Technology Ramapuram Campus as Business Incubator (BI) / Host Institution (HI) for implementation of the scheme “Support for Entrepreneurial and Managerial Development of MSMEs through Incubator” (Ref. No.: HIBITN000295). Host Institutions (HI) can explore the new innovative ideas from the Incubatees of various sectors which may be entrepreneurs or students from any streams.
Globally, technology and its rapid expansion and adoption is becoming a critical factor in is impacting almost all sectors. Technology is also deciding the way Micro, Small and Medium Enterprises (MSMEs) expand in the global economy while playing an important role in the national economic development.
The main objective of the scheme is to promote & support untapped creativity of individual and to promote adoption of latest technologies in manufacturing as well as knowledge based innovative MSMEs (ventures) that seek the validation of their ideas at the proof of concept level. The scheme also supports engagement with Enablers who will advise such MSMEs in expanding the business by supporting them in design, strategy and execution. The Enablers will play a pivotal role and would be integral part of the business development.
The components under the scheme will include mentoring support in business and technology, networking with other businesses, seed capital assistance, professional assistance to make the enterprise successful and achieve higher growth. Technology based new enterprises are typically characterized as high risk and high growth ventures, and as such, they require an enabling environment like BI to enhance the prospects of success.
Activities / Nature of assistance
• Approval of Ideas of Incubatees of Host Institute.
• Financial assistance up to 15 lakh for developing and nurturing of an idea.
• Financial assistance up to 1.00 Cr. for procurement and installation of plant and Machines in BI in order to strengthen the technology related R&D activities of BI.
• Financial assistance of up to 1.00 Cr. as grants in aid for the seed capital support to HIs/BIs for converting deserving ideas in to start-ups.
• Awareness and workshop programme.
Who Can Apply?
Student/Entrepreneurs of the Institute such as Technical colleges, Universities, other professional colleges/institutes, R&D institutes, NGOs involved in relevant activities, EDCs of O/o DC (MSME), MSME-DIs/Technology Centers (TCs), DICs or any Institute/Organization of Central/State Govt.