Country’s premier institute Indian Institute of Hyderabad (IIT) Hyderabad & NMDC Limited has collaborated and launched a 5-year joint Incubation and Fellowship program. The program would commence from November 2020.
The initiative titled NICE Program aims to support deep-tech startups by providing them incubation and fellowship support. Students who want to apply for the program can visit the official site of niceprogram.in to apply.
The main objective of NICE is to promote the spirit of entrepreneurship and innovation in the country and to support the Startup India movement.
The five-year program would support 5 fellows and 15 startups by providing them financial aid, mentoring support, co-working space, other infrastructural benefits, and many more. With the total program budget of INR 10 Crores funded by NMDC, NICE aims to support 5 startups every year with the financial aid of up to INR 25 lakhs to convert their proof of concept into a scalable business.
The program was launched on November 6 by Sumit Deb, Chairman-cum-Managing Director, NMDC Limited in presence of Prof B S Murty, Director, IIT Hyderabad. The launch program was conducted virtually that was attended by students, faculties, and team members of the organizations.
Prof B S Murty, IIT Hyderabad Director said, ““The vision of IIT Hyderabad is to be the cradle for inventions and innovations. This joint program is one important step taken towards the vision of IITH and the commitment to supporting entrepreneurship and innovations. This program would also act as a template for Industry-Academia collaboration to enrich the Startup India initiatives.”