Fund for Accelerating Start-ups is a new program of DSIR (Department of Scientific and Industrial Research) to support Technology start-ups at early stage. The intention is to support start-ups in product space with strong IP to accelerate their product development with liberal government support.
Tags: start-up, Uncategorized, VC fund
December 15, 2007 at 11:12 am |
Last August, 2007 I received Indian Patent Registration 208362 for a new vacuum filtration equipment. The new equipment is projected as “Water & Waste Harness System for Natural Stone Processing”. I have a working prototype delivering 300 liters recycled water on marble sawing. The suspended solid is separated and collected as it is generated without any contamination and can fetch value as useful Calcium Carbonte.
I have to now demonstrate the equipment with a couple of modifications and launch a startup.
I need angel funds to accelerate the commercial launch.
December 15, 2007 at 11:37 am |
Thank U Mahesh. Send me by e-mail brief details about you, full patent document , proof of working prototype, budget for modifications and estimated market size. I will advise you whether TePP or FAST is the relevant fund for you. asraoatnicdotin
April 27, 2008 at 9:44 am |
It is indeed a good proposal from Govt. side to improve the research and rapid commercialisation of projects in India. I have industrial experience of about 18 years and wish to start a new company focussed on research and develop of innovative non contact measuring instruments for diverse industries like steel, glass, rubber, tea, tobacco, pharma etc. The technology is based on Visible Laser, Near Infrared, X-ray and Ultrasonic. The project cost is going to be around 1.5 to 2 crore. I will invest my part in office and R & D setup, infrastructures like equipments, furniture, fixtures, third party software, hardware modules, and human resources initially. I have initiated talks with some of the overseas OEM vendors for some critical components and already secured interest and commitments from some of the end users (orders subject to successful prototype demonstrations) and also started discussion with CSIR for a possible assistance for measurement project. I am incorporating my company as a private limited company with initial authorised capital of 10 lakhs. We will have our office and initial team of engineers in place in another two months time at Delhi.
We approached many public and private banks for some kind of assistance (OD, Working Capital or term loan and all refused to lent any kind of loans (all offered personal loans at 16-18% interest maximum 3 Lakhs without collateral, but no business loan, OD, or seed money without collateral). All says we have to be at least three year old company to get any kind of funds. We have a solid business plan and customers are ready to back us from the industry and finding difficult to raise money (after setting up office, investing on infrastructure for equipments, computers, networks, etc. We just found that we have to make one Lakh as security to sales tax department to get a registration, we have to go for excise, service tax, TDS, IE Code in coming days). I can invest another 8-10 Lakhs in the project as seed money besides paying for the office rent, salary and other operational costs every month. Desperately looking for start up funding and come across this blog today. Please guide me! Thanks in advance.
April 27, 2008 at 11:09 am |
You need seed capital to cover technology risk by proving functionality with prototypes. FAST is coming with an advertisement soliciting proposals in the area of `Waste to Wealth’, so yr project may not fit in. Your choice get restricted to angel funds. If you want introduction, then send me your business plan, then I will forward it to some Angel investors.
May 24, 2008 at 6:45 am |
Thanks Sir,
I am preparing a busniess plan and will mail to you. I saw the advertisement of Waste to Wealth in news paper. Hope one day some thing like that come for business startup like us.
June 24, 2008 at 5:45 am |
Sir,
I manufacture Coolant Recovery system where we can reuse the emulsion coolants used in engineering machine tools back in the machine tool after treatment. There is a very big market potential existing for the period in Domestic and International markets. The main objective of my equipment is to reduce liquid pollution, conserving costly natural resources like mineral oil and water. I need support to grow on a large scale and hoped if your waste to wealth creation could help me out. I look forward to your suggestions
June 24, 2008 at 6:33 am |
You are welcome to apply. But last date is 30th June 2008. see TDDP Start-ups at http://www.dsir.gov.in
July 20, 2008 at 5:48 am |
The first round inviting proposals in the opportunity area `Waste to Wealth’ resulted in over 30 proposals. All applicants will soon get acknowledgment letters.
We thank all applicants for referring their proposals to us.
January 18, 2009 at 4:39 pm |
Some very interesting and insightful thoughts. I like this.
August 14, 2009 at 7:05 am |
sir,
we r interested to set up biomass agro base briquett plant. which is one of the important fuel in near futuer. the raw material is required for that is agro waste. kindly give me a wright direction for how to funding to this project.