Applications Invited for NMDC Innovation & Incubation Centre (NICE) Incubation Program

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About the Organization:

NMDC Limited, a Navratna PSE under the Ministry of Steel, Govt. of India is the single largest producer of iron ore in India owns and operates highly mechanised iron ore mines in Chhattisgarh & Karnataka.  The vision of NMDC is to emerge as a global environment friendly mining organisation and also as a quality steel producer with a positive thrust on social development.

About NICE:

With the focus on fostering, nurturing and incubating start-up companies with new innovative ideas in deep technology, i-TIC Foundation IIT Hyderabad and NMDC Limited joined hands to establish a start-up ecosystem for tech entrepreneurs with collaborative efforts. This idea gave birth to NMDC Innovation and Incubation Centre (NICE)

NICE Incubation Program

The main goal of NICE incubation program is to support the companies flourish into successful business enterprises. The program offers the opportunity to entrepreneurs who are passionate about working on the deeptech startup idea. The program is designed to provide all the necessary support for scaling a new business venture. Under the incubation program, the startup would get financial aid of upto INR 25 lakhs (in exchange of 3% equity) and various other benefits. More details about program benefits can be found on the Benefits page.

The NICE Community is explicitly the most amazing community for promoting, advancing and growing tech entrepreneurs in India. They’re equally eager to listen to your ideas, shape them in the right direction and let you lead your own path, while supporting & guiding individuals as well as organizations at each step where they’re stuck.

Eligibility Criteria:

• The idea should be on deep technology.
• The start-up founder should be a citizen of India.
• Age limit for the founder is in between 18 to 35 years.
• Founder should be at least a graduate; preferably from Engineering, Medical or Science background.
• Definite Proof of Concept (PoC) is a prerequisite.
• Startups having their own IP are preferable.

Benefits:

• Under the incubation program, the startup would get financial aid of upto INR 25 lakhs (in exchange of 3% equity) and various other benefits.
• With their wide experience in the Indian Startup Ecosystem they’re well aware of the challenges start-ups go through. Taking note of the same challenges, They’re offering benefits that will make their partnership more valuable for shaping your innovative ideas into reality.

Deadline: December 6, 2020 11:59 PM

For more information please check the Link