DAVV (Devi Ahilya Vishwavidyalaya) Incubation centre has announced that it will be providing funding for about 20 startups and innovators along with mentorship services. This funding supply by DAVV Incubation Centre aims to bolster the innovation in country and foster the entrepreneurial endeavors.

Reinforced by getting an approval from the Union Government’s Department of Science and technology, the DAVV Incubation centre is put out to supply the financial support and direct the startups & innovators to propel them to have a powerful entry to the market.

More than 35 innovators and startups from diverse parts of the state MadhyaPradesh have lend an application for this DAVV incubation centre’s funding. Beneath the sponsorship of the NIDHI iTBI program authorized by Department of Science & Technology, Government of India, the funding initiative indicates the startups and innovators to apply for the iTBI Ignition Grant, which is designed to cultivate booming ideas and renovate them into feasible products perched for success in commercial landscape.

Speaking to this, Dr. Shashi Prakash, Head, DAVV incubation centre says, “The total grant that we can use under this scheme is 50 lakhs. The minimum funding given to a startup or innovator will be 2 lakhs while maximum funding will be 10 lakhs. If the idea or prototype of an innovator is excellent we will give the maximum funding to them”.  

Further Prakash adds, Through the incubation center, innovators & startups will have access to a range of support services, including mentorship, access to facilities, networking opportunities and funding assistance”.

Elevating up to 10 lakh per startup, the Ignition Grant serves as a vital financial initiatives for startups to turn up their concepts into offerings for market.