New Delhi, Nov 20 (KNN) National Research Development Corporation (NRDC)has invited proposals for Seed/Angel funding for manufacturing start-ups. The Scheme supports innovations that have the potential to build and shape the development of technology driven entrepreneurs.

NRDC is an enterprise of Department of Scientific & Industrial Research (DSIR), Ministry of Science & Technology, Government of India.

The Corporation proposes to participate in the equity share capital of start-up and early stage growth focused, innovative companies. It proposes to invest in innovative entrepreneurs at the crucial stage where the ventures are just getting off the ground. It is high stake investing, which can result in unexpected returns.

Through this scheme, the Corporation would select start up and early stage companies and provide a part of the capital required, as Seed / Angel funding to innovators, who prima facie have the potential to develop significant technical and commercial entities.

New start-up and early stage growth focused innovative companies (mainly engaged in development and commercialization of new products or new application of existing products or new technologies or processes) based Incubators in any State / Central Government supported institutions are eligible. The Startup should be incorporated under the Companies Act, 1956.

The last date for the applications submission has been extended to December 15, 2018.