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Scheme aims to ensure timely availability of seed fund to deserving start-ups
The Atal Incubation Centre - Centre for Cellular & Molecular Biology (AIC-CCMB) has been awarded the ‘NIDHI-Seed Support System’ (NIDHI-SSS) grant of ₹5.25 crore by the National Science & Technology Entrepreneurship Development Board (NSTEDB) of Department of Science and Technology (DST) on Thursday.
The scheme aims to ensure timely availability of seed fund to deserving start-ups which can get up to ₹25 lakh and in exceptional cases, can be awarded ₹1 crore as seed support in the early stages of their journey for market access and scale-up.
“This grant will support efforts of start-ups and ensure their leads reach the market as life sciences is a very capital intensive field where the development time is longer than any other sector. Time and money required for various validation and regulatory clearances for bringing a product to the market puts a huge pressure on the entrepreneur. We have