USISTEF invites proposals from Bi-national Indo-US teams of entrepreneurs with innovative products for funding

New Delhi, May 1 (KNN) Proposals have been sought from Bi-national Indo-US teams of entrepreneurs with innovative products for commercializing technologies for Societal Impact  under the United States-India Science and Technology Endowment Fund (USISTEF).

The Bi-national teams can include – incorporated companies including start-ups or non-incorporated entities or Individuals or consortia from academia, government laboratories, non-government R&D institutions.

The governments of India, through the Department of Science and Technology and the United States, through the Department of State, have established USISTEF for the promotion of joint activities that would lead to innovation and technopreneurship.

USISTEF activities are implemented and administered through the bi-national Indo-US Science and Technology Forum (IUSSTF).

Fund with grant size of upto Rs 2.50 crore will be provided through a competitive grants programme.

Under this programme, Bi-national Indo-US teams of entrepreneurs and innovators with innovative product or technology, beyond the idea stage and with high societal impact will be funded. The products should have significant potential to commercialize within 2-3 years.

The priority areas identified include development of affordable bio-medical devices, food nutritional products etc.