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FUNDING
VIT-TBI has constituted 5 different Grant & Seed Support Systems for Start-up companies like the DST NIDHI PRAYAS, DST NIDHI EiR, DST NIDHI SEED, BIRAC SEED & MeitY EIR/PoC/Scaleup funds, These schemes enable VITTBI to offer early stage financial support for deserving ideas / technologies while support is extended to startups requiring funds for upscaling and related work as well
Angel Funding
VIT-TBI has created a pool of investors who provide capital for tech start-ups, usually in exchange for convertible debt or ownership equity. VITTBI bridges the startups with Investors as and when the company is ready to assimilate the funds effectively and grow.
VITTBI startups have raised funds from 100XVC, Grad Capital, Inflection Point Ventures, Java Capital, Menterra Impact, IdeaSpring Capital etc., apart from few other family offices.
Government Grants
Funding to the Startups is arranged through various grants available from the government through various schemes. VITTBI constantly follows the updates from the government e.g. DST, DSIR, DBT, DIT, MSME, TIFAC and the like with respect to funding schemes and recommends appropriate schemes to the incubatees.
CSR Funding
VITTBI in association with DANA Foundation and extends CSR grants to deserving startups that have a social impact.
VITTBI startups have raised grants from Rs. 2.00 lakhs to Rs. 25.00 lakhs from DANA
GST Tax Exemption
Incubatees of VIT-TBI are eligible for GST Tax Exemption for three years up to a maximum Rs.50 lakhs turnover per year as per the recent notification of Ministry of Finance, Government of India.
Mentoring
VIT-TBI gives atmost importance to mentorship and believes that the shared wisdom from experience can alleviate probable challenges in the journey of an entrepreneur.
VITTBI has one-on-one session with the incubatees at regular intervals to understand the progress, challenges and any other points of concern. This helps the innovators and startups to find solutions, get directions and gain confidence.
VITTBI also offers mentoring support through a mentor pool consisting of senior faculty from within the University and as well from Entrepreneurs, Business Consultants, and Industry experts from its network. The incubatees are referred to relevant expertise as and when business coaching is required. These are deep engagement sessions that include guidance in business modeling and business plan preparation and a host of other advisory support.
Access to Talent
Incubatees get the access to hire student interns from VIT campus and from the VITTBI network,
Talent acquisition from VIT campus throws open the opportunity for founders to work with young and creative minds. Flexible credit system allows the students on campus to commit their time with startups by planning their classes accordingly.
Students engage with startups for gaining experience and get recommendations for their future academic or job pursuits. Few students find the assignments interesting and join the founding team while few others go on to start their own ventures as well.
Infrastructure
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VITTBI has created a State-of-the art Product Innovation Centre that is accessible to the incubatees.
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Independent incubation office spaces, Co-working space, Conference room, Discussion rooms are available for incubatees.
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VITTBI also leverages all the resources that are available within the campus such as access to laboratories, machineries and other facilities.
Access to Network
Over the years VITTBI has established connections with multiple stakeholders like the Government agencies, Industries, Banks, Academic and Research Institutions, Entrepreneurship forums, Technology & Business leaders, Angel Investors, Venture Capitalists and others.
Startups under incubation at VITTBI are provided with the required linkages whenever needed.
Soft Landing Support
Soft landing support is extended to companies from outside of India who are exploring options to initiate their India operations from Vellore.
Soft Landing Support was extended to a German SME, Kramski GMBH, to set up a manufacturing unit named KRAMSKI Stamping and Molding India Pvt. Ltd., in Vellore during 2007-08. Click to see few photographs taken during the ground breaking ceremony
A UAE based firm, Smithline Reinforced Composites FZC was inducted for Soft landing support to set up their manufacturing plant near Vellore. The company has acquired land and commenced activities from their Project office in our TBI in 2008-09
A UAE based firm, Smithline Reinforced Composites FZC was inducted for Soft landing support to set up their manufacturing plant near Vellore. The company has acquired land and commenced activities from their Project office in our TBI in 2008-09
