Bajaj Entrepreneurship Grants in India

Bajaj Entrepreneurship Grants in India

Bajaj Entrepreneurship Grants in India; Applications are now open for Bajaj Entrepreneurship Grant Program to select social impact technology innovations, support them with prototyping grants and mentor them towards conversion to products and services in use.

Scope

Bajaj Entrepreneurship Grant will enable an entrepreneur / startup to translate an innovative idea to a prototype.

Without limiting scope unduly, the projects and technology entrepreneurs chosen shall be:

Focused on a leveraging science and technology/ inventions

Focused on building a sustainable and scalable entrepreneurial venture

Themes of social entrepreneurship will be preferred (maternal and child health, affordable healthcare, assisted living for elderly and disabled, energy and environment , agro/rural sector and such topics with social impact)

Any other themes suggested by the Project Oversight Committee (POC)

There shall be no restriction on the background of the entrepreneur. However, preference may be given to:

Women entrepreneurs

First generation entrepreneurs

Social enterprises

Companies as opposed to individuals

Any other criteria suggested by the Project Oversight Committee (POC)

Funding Information

Maximum grant support will be upto Rs 10 lakhs per grantee for prototype development.

Project duration: Maximum upto 10 months.

Eligibility Criteria

Nature of projects

Eligible

The project needs to define a technology solution to a well-defined problem

The idea proposed should be innovative/ novel.

Project should relate to converting an idea into a prototype or prove demonstrate key technical claims of the idea

Not eligible:

Pure software development with no IP potential

Pure academic research

Selection Criteria

Technical soundness & do ability

Potential business opportunity

Potential for social impact

Team capabilities & background

Knowledge intensity or novelty or IP potential

Execution & commercialization plan

Chances of conversion & success as a startup

Exceptional cases may be considered on its merit by the committee

Any others as decided by the committee

Applicants and Project Leaders

Every project proposal will need to identify a Project Leader and an Applicant/ Grantee. The Project Leader will be a single individual who will take responsibility for executing the project.

The Applicant or Grantee can be either of the following:

Case 1: Applicant is a single individual

Case 2: Applicant is a nascent start-up company

Eligibility for the Project Leader (PL)

PL has to be an individual (one person).

PL is required to be at least 18 years of age as on the date of call for applications.

PL is required to be Indian Citizen. An Indian citizen is defined as one who is in possession of a government approved proof of nationality such as a valid passport, voter’s id etc. Exceptional cases of foreign nationals with potential for impact in India will be considered.

PL has to pursue the project or startup full time with no other concurrent commitments during the project duration.

PL cannot be pursuing a long-term academic/research project (like doctoral students) with significant obligations during the project duration.

Applicants must have completed basic undergraduate training in natural sciences/engineering/ medicine. Essential qualification is PhD/ MTech/ BTech/ BPharm /MD/ MBBS/ BDS/ MSc / MPhil/ M Des/ MPH /MBA / MSW and equivalents, with under- graduate training in Science, Medicine, Engineering.

Applicants with a BSc degree with at least 1 year of full-time work or research experience shall also be eligible

Eligibility of an Applicant/ Grantee

Case 1: Applicant is a single individual

Applicant will also be the PL

Applicant has to qualify under criteria for PL.

Case 2: Applicant is a nascent startup company

The Company/LLP should be registered under the Indian Companies Act, 1956/2013

The applicant can be a nascent startup company (under 5 years old at the time of announcing of a call for applications; PLC or LLP only; under 10 years old for Biotech startups).

At least 51% of the company should be owned by Indian nationals (directly or indirectly).

Exceptional cases will be considered on merit basis.

The PL should be the founder (or significant shareholder, implies more than 10%) of the applicant startup company.

An applicant company, in which any promoter holding more than or equal to 20% of the shares or has a more than 20% benefit sharing arrangement or exercises considerable control, is a copromoter of another ineligible company or a partner in another ineligible company or LLP, then the applicant will not be eligible.

How to Apply

Applications must be submitted online.

For more information and application details, see; Bajaj Entrepreneurship Grants in India

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