NIDHI4COVID 2.0 to fund Indian startups that aim to aid nation's fight against COVID-19

Amid the COVID-19 pandemic, the struggles of the startups and innovators have become more evident. As a response to help and support Indian startups, the National Science & Technology Entrepreneurship Development Board (NSTEDB) has launched NIDHI4COVID 2.0. This initiative aims at introducing indigenous solutions and innovative products which would aid the nation in fighting against the COVID-19 pandemic effectively.

The Implementing Agency of NIDHI4COVID 2.0 initiative is KIIT- Technology Business Incubator, a Centre of Excellence supported by the Department of Science & Technology (DST). KIIT-TBI will work closely with DST to support promising startups with up to 50 lakhs of funding assistance under the program.

Startups' war against COVID-19

With the pandemic in play, startups can turn the situation in their favour by introducing new technologies and products to the market that will help the public during this crisis. There are few startups that aim to operate on this line but need adequate funding to progress. And so, DST's with this initiative will support deserving startups with the required funding to scale up their technologies and help them reach the product deployment stage in the minimum time possible. 

Some of the core areas of interest include oxygen innovation, portable solutions, relevant medical accessories & equipment, diagnostics, informatics among others. 

COVID-19 pandemic is an opportunity for startups?

The Indian startup ecosystem has taken good advantage of the second wave of COVID-19 from making masks to deployment to oxygen necessities, to bringing together essential medical equipment. 

NIDHI-Technology Business Incubator(TBI) is working towards other initiatives aligning with national priorities including creating jobs, wealth, and businesses. It also aims at promoting new technology & innovation-based startups, to build a vibrant startup ecosystem, by establishing a network to provide cost-effective, value-added services to startups like mentoring, legal, financial, technical, intellectual property-related services.

NIDHICOVID to fund startups

Startups whose services or products will provide relief or help amid the COVID-19 pandemic situation will be considered for Seed Support through the DST-supported network of Technology Business Incubators under the NIDHICOVID program. Both financial and mentoring support would be provided to promising startups for scaling up their products or technologies to the next level. 

(Image credit: SHUTTERSTOCK/GERALT/PIXABAY)