Innovation - Science and Technology based
Entrepreneurship Development (i-STED)
With technological advancement becoming the component for achieving organizational progress, it is the endeavor of National Science and Technology Entrepreneurship Development Board(NSTEDB) of the Department of Science and Technology (DST) to work with organizations which specializes in scaling up and translation of various market feasible technological innovations by promoting entrepreneurship and innovation led enterprises. The i-STED Program is a focused effort to bring about an inclusive socio-economic development by addressing the challenges associated with a specific region/industry/cluster by connecting interventions of Science and Technology and innovative solutions with entrepreneurial opportunities. The existing challenges may be in some of the priority areas i.e energy, water, affordable health, affordable housing, waste management and any specific industry sector/cluster. Some of the innovative solutions/technologies identified and taken up under the program should be translated into economic gain and wealth creation. These enterprises should able to generate good societal and market acceptability. It aims at inculcating strong entrepreneurial orientation in people to translate innovative /developed S&T solutions in the market. The entrepreneurial enterprises would subsequently translate the identified innovative solutions by tapping the market opportunities and aligning with appropriate business model. The value added products and services would be offered to end customer at an affordable price to have good market outreach. The program would generate demonstrable avenues for new sustainable enterprises, large scale employment and sustainable wealth creation and thus contributing towards socio economic development in the country.
The program aims to identify challenges and issues in an area/industry/cluster and its solutions based on technological interventions and innovative approaches. These solutions needs to be further aligned with entrepreneurial opportunities to generate socio-economic development. The projects under the program would aim to demonstrate better avenues for creation of sustainable enterprises, and generation of jobs connected with the proposed technological solutions. The projects would also target to demonstrate sizeable impact creation in five year time frame.
The broad objectives of the project are:
- To identify and address, key challenges and problems for specified geographical region (s)/ industry sector or cluster /society covering both rural and semi-urban areas i.e. gaps in innovation to market value chain.
- To tap fully developed and validated technologies from different sources such as traditional sectors /existing clusters, R&D institutions, technology providers, local innovations and solution oriented R&D etc. having good market potential.
- To explore and promote entrepreneurial opportunities in a systematic manner which may arise for commercial application of various products/services developed through above technologies.
- To improve performance of existing enterprises through systematic application of innovative S&T interventions.
3.0 Eligibility for Proposal Submission:
The i-STED proposal should be submitted by Indian Organization/ Institutions having not for profit legal status or for profit institutions promoted by national financial institutions banks and Govt. Organizations i.e Technical Consultancy Organisations, with high credibility evident from elaborate work done and proven track record in development and promotion of technology based solutions, and imparting requisite training and nurturing entrepreneurship. The applicant organization may possess the following.
- Fully developed and operational infrastructure for training, technology validation, demonstration in the proposed region, Infrastructure includes training halls, demonstration space, computing facilities, Audio-visual classroom facility etc.
- Fulltime trained manpower in the selected area of technology.
- Experience of working in the domain of S&T based enterprise creation.
If an organization does not possess desired competencies and facilities in all the above areas, it may enter into partnership with the relevant organizations possessing the desired expertise and facilities. The new programme would endeavour to support networks formed to provide collective strength of implementation in line with the project objectives.
3.1 Mandatory Eligibility Conditions:
- Operational Experience: Organisation should be in operation for at least 3 years as per the date of registration/establishment.
- Financial Position : Minimum Turnover of Rs. 50.00 lakhs as per the balance sheet of last financial year.
- Domain Experience : Min. 3 years in execution of projects on popularization of innovation through entrepreneurship and enterprise promotion. Organization must have successfully executed project with similar objective and proposed budgetary value.
- In house Expertise : Full time team with qualified professionals having essential work experience in the related field. Experience in entrepreneurship and market related an activity is also desirable.
4.0 Target Beneficiaries
Young, educated and skilled potential entrepreneurs with inclination to start/ scale-up their own enterprise with innovative and technological interventions that have potential to impact the region, industry and have potential for scale up.
5.0 Project Proposal Design and Framework
Project under the program may be initiated by a single organization or by a main applicant partnering with other organizations having relevant expertise and facilities for connecting the requisite phases of the project and enabling proper execution of the overall project. The organization may identify few technologies ( not more than 5) to be taken up under the project with proper survey , analysis and due diligence. The detailed formulation of the project should be in line with the application format of the Program(as given in the website: www.nstedb.com) and worked out based on conceptualized framework, execution model activity plan and resources required to meet the targets and objectives of the proposed project under the program. The overall budget may be realistic and would vary on the type of technology, the canvass of the project , targets and outcome in the proposed plan.
6.0 Implementation Mechanism:
The applicant organization is required to undertake following steps
- A complete road map for execution of the project broken quarterly and yearly.
- Finalization/Selection of Nodal person and the core team .
- Intensive sensitization about the project to target region/industry domain/ population with adequate stakeholder analysis
- Formulate and execute strategy for systematic deployment of solutions with societal acceptance for identified target group
- Formulate and execute strategy for entrepreneurship Promotion
- Linking innovations and solutions with feasible business models and business plans
- Mobilizing people for implementation of business models through enterprise and entrepreneurship promotion
- Identification & selecting of potential entrepreneurs.
- Training/capacity building of entrepreneurs.
- Setting up of registered enterprises by linking entrepreneurs for funding through banks/appropriate (S)govt. schemes with bankable business plans for new enterprises
- handholding / market identification/ marketing etc. services to the potential entrepreneurs
- Counseling the existing enterprise for technology up-gradation and modernization.
- Internal monitoring and mid course corrective actions
- Reporting and monitoring the impact envisaged under the project.
A detailed operational methodology for executing the project with time –linked activity work plan and targets/outcome to be achieved along with resources and budget requirement would be submitted in response to the call for application by the Department.
For successful and effective implementation linkages need to be established with reputed national/regional/local level technical/R&D institutions/Network of Technology Business Incubators(TBIs)*/ Innovation and Entrepreneurship Development Cells (IEDCs)*/Science and Technology Entrepreneurship Development(STEDs)* agencies, Industrial Training Institutes (ITIs) /Krishi Vigyan Kendras (KVKs) etc. for sourcing technologies and upgradation of existing technologies. Institutions like Khadi and Village Industries Commission (KVIC), Small Industries Development Bank of India (SIDBI), National Bank for Agriculture and Rural Development (NABARD) and the Lead banks need to be involved right from the initial stages for better acceptability of the project proposal amongst the financial institutions at the time of sanctioning and disbursing the loan. The Project needs to function closely with local bodies of trade and administration without whose involvement and intervention it may not be possible to produce desired results. Linkages with other schemes and programmes of NSTEDB and also with other useful and appropriate Central and State Government schemes are required to be established so that nurtured enterprises avail benefits offered by various existing Government schemes.
* Refer list at http://www.nstedb.com/institutional/institutional.htm/
8.0 Evaluation and Monitoring:
The iSTED is a Five year project with the financial support from NSTEDB. However, the continuation of project is linked to quantifiable targets and specific outcomes. The performance is monitored both in quantitative and qualitative aspects both at local level by the implementing organization as well as by the sponsoring agency. The Expert Advisory Committee on iSTED Program would evaluate the performance and monitor the progress of the sanctioned projects. As and when it is felt necessary, site visit by a team constituted by the NSTEDB Secretariat would be organised for monitoring the project. In case of significant shortfall in achievement of target and overall performance, the project under the program may also be terminated before the completion of the project tenure.
9.0. Proposed impact/ outcome:
9.1 Creation/Identification of Validated Innovation Pool with potential for commercial application.
9.2 Sensitization and outreach of innovations with commercial viability and societal acceptance.
9.3. Scale up Innovation with a feasible business model; accelerate entrepreneurship and new enterprise creation
9.4 Socio Economic and Ecological Impact
Target is to promote 5-10 innovations with potential to create 100 scalable and sustainable enterprises with turnover of around Rs. 20 Crore generating nearly 1000 jobs directly and 2000 indirect jobs in 5 years (these are indicative numbers and may vary according to nature of innovations and implementation location(s)).
10.0. Submission of the project: The steps for submission of the proposal are given below.
10.1. Call for proposals
It is proposed to announce the call for application in official websites. Minimum one month would be given for submission of applications.
Project proposal in 2 hard copies (to be sent through speed post) and also in soft form in MS word document (2003 compatible) may be submitted at the following address within the last date as announced in the website.
National Science and Technology Entrepreneurship Development Board
Department of Science and Technology
New Mehraulli Road
New Delhi -110016
10.3. Proposal Consideration and Recommendations:
Applications received within last date would be scrutinized initially by the NSTEDB, DST secretariat and put up for consideration before the Expert Advisory Committee, constituted by the Department. The list of recommended proposals after due approvals from the Department would be notified for further action.