07 December 2018
Financial Assistance from Technology Development Board (TDB) for Industrial Concerns for the Development of Indigenous Technologies
First Publication Date: 4th October 2010
Technology Development Board (TDB) mandates to provide financial assistance to the industrial concerns and other agencies attempting development and commercial application of indigenous technology or adapting imported technology for wider domestic application.
TDB was established as per the provisions of Technology Development Board Act, 1995 by Government of India through Department of Science and Technology. The funds collected by the TDB are through industrial concerns under the provisions of the Research and Development Cess Act, 1986, as amended in 1995 and through other donations (as donation made to this fund have full deduction for income tax purposes).
Eligibility to apply for financial assistance:
- Domestically generated Intellectual property by Inventors or Industrial Concern
- Start-up companies and/or technocrat-entrepreneurs in agricultural product processing, information technology etc
- Any enterprise who has developed technology with the assistance of an R&D institution
- Commercial enterprises companies incorporated under companies act, 1956 (excluding sole entrepreneur / sole proprietorship/partnership concerns) cooperatives and other agencies are eligible to seek money from the Board for the development and application of technology-based product or service
- Applications from enterprises for commercialization of indigenous technologies may be considered if the project is for commercialization of technology developed through the financial support provided under other major support measures provided by the Government for enhancing innovation and technology development like Home Grown Technology (HGT) Technology Vision 2020 implementation projects of Technology Information, Forecasting and Assessment Council (TIFAC) or under the Programme Aimed at Technological Self Reliance (PATSER) of DSIR or under the Technopreneur Promotion Programme (TePP) jointly operated by DSIR and DST.
The financial assistance by TDB is provided to industrial concerns either at commencement, start up or growth stages. The assistance may be in the form of loan or equity and/or in exceptional cases, grant. The duration of any project selected for such assistance shall be three years.
The Board shall select the application on merit to provide financial assistance. Few criteria for selecting the application on merits as mentioned in the guidelines of TDB are as follows:
- the soundness, scientific quality and technological merit.
- the potential for wide application and the benefits expected to accrue from
- the adequacy of the proposed effort.
- the capability of the R&D institution(s) in the proposed action network.
- the organizational and commercial capability of the enterprise including its
- the reasonableness of the proposed cost and financing pattern.
- measurable objectives, targets and mile-stones.
- track record of the entrepreneur
The Board may invest by way of equity capital in a company upto 25 percent of the project cost, including margin money for working capital, provided such investment does not exceed the capital paid-up by the promoters. In loan assistance, the Board shall pay half the estimated approved outlay on the activities eligible for funding.
The contact between the applicant and Board shall include that the payment be made in periodic basis according the structure and development of the project. The Board shall facilitate for monitoring of the project and once the upon the project completion, the enterprise is required to submit the prescribed returns. Few clauses like Payment of royalty for a limited period on commercialization in case of grants, or nomination on the Board of directors of the concerned company as an equity share holders etc may be present.
The total project cost for the purpose of assistance shall also include cost incurred on filing application for patent in India or outside by the company. Normally, the contact regarding any intellectual property sharing/transfers shall be between technology provider and other enterprise. However, in few cases the Board may retain a royalty-free license for the use of the intellectual property for the purposes of the property to license others in certain circumstances to manufacture and or sell the product in India.
The aim of the Board is to encourage R & D departments and industries for product innovation and improvisation of Indian Markets. The Board also encourages the small enterprise for new ideas even at the risk of failure.
The application forms are accepted through out the year. A filled application form has to be submitted to The Secretary, TECHNOLOGY DEVELOPMENT BOARD, Department of Science and Technology.
For application forms and more information, please click here
To know more about BananaIP (Earlier known as Brain League) visit www.bananaip.com
Total Page Visits: 272 - Today Page Visits: 1