December 1, 2020 5:08 pm

Central PSU NMDC to invest Rs 10 crore to promote deep-tech startups

Must Read

How AI monitoring can make your business smarter and better

(AI) makes it feasible for machines to learn from experience, adapt to new inputs, and perform human-like tasks.

Why cybersecurity threats have increased during Covid-19 pandemic

Cybersecurity industry has never had more significant task to carry out than guarding strategic associations and businesses from digital assaults during the coronavirus pandemic

How to choose an effective DDoS mitigation plan

There are several flavours from which to choose when selecting an effective DDoS mitigation strategy. Most enterprises opt for one of the cloud protection flavours (always-on or on-demand)

— Central government public sector undertaking NMDC Limited in association with have launched Incubation and Fellowship program to support and promote deep-tech startups in the country.

Named as NICE Program (NMDC Innovation and Incubation Centre), it is a 5-year joint program that would support 15 fellows and 15 startups by providing them financial aid, mentoring support, co-working space, other infrastructural benefits.

With the total program budget of Rs 10 Crores funded by NMDC, NICE aims to support 5 startups every year with the financial aid of up to Rs 25 lakhs to convert their proof of concept into a scalable business. The program would also support 5 fellows every year with the monthly stipend of Rs 80,000 for 12 months to support their sustenance and prototype development.

While launching the program, NMDC CMD Sumit Deb said, “As a responsible corporate entity, NMDC has always supported social causes which have a potential impact on human lives. I am sure that the NICE initiative will be a go-to place for young entrepreneurs to passionately pursue their entrepreneurship journey and create wealth for the benefit of society at large.”

“This joint program is one important step taken towards the vision of IITH and the commitment to supporting entrepreneurship and innovations. This program would also act as a template for Industry-Academia collaboration to enrich the Startup India initiatives,” said Prof B S Murty of IIT .

Subscribe to receive the day's headlines from Tech Observer straight in your inbox

Share your views

*The moderation of comments is automated and not cleared manually by Embedding of any link and use of abusive or unparliamentary language are prohibited.
- Advertisement -

Latest in TECH

Related Articles