The Department of Science & Technology, Government of India, established the National Science & Technology Entrepreneurship Development Board (NSTEDB) as an institutional mechanism to help promote knowledge driven and technology intensive enterprises.The Board aims to foster innovation and Start-Up ecosystem through Science, Technology & Innovation (ST&I) interventions.
Genesis of NSTEDB
Technology-driven innovation plays a critical role in enhancing the effectiveness and hence productivity & global competitiveness and disrupts the existing economic equilibrium. The transition of national economies globally towards Knowledge Economies (KE) is a reality. Entrepreneurial Ventures, because of their size, agility, and innovative capacity for every monetary unit spent are the harbingers of this transformation.
This also goes hand in hand with higher failure rates but with less investment exposure. Given the criticality and transformational impact of these startups for an economy particularly economies with limited financial resources but ample human and knowledge resources, National Science and Technology Entrepreneurship Board (NSTEDB), hereinafter referred to as ‘BOARD’, was tasked with the responsibility of creating, nurturing, fostering and ameliorating a nationwide innovation ecosystem.
NSTEDB, since its inception, dynamically adapted its offerings while traversing the learning curve and also drawing from experiences across the world has narrowed down these approaches mapping them to the nation’s unique cultural and social ethos. These include intellectual stimulation and awareness programs to sensitise the society, training programs, programs encouraging opportunity and problem identification to generating solution in terms of the IP generation, seed support programs for developing the prototype and most importantly the programs facilitating the commercialisation of the developed technology.
In the last five years, the board’s offerings have quintupled in terms of numbers of the programs supported & budget expenditure. The board had paid out ₹200 Crore ($26.2 Million) in the last one year itself and a total of about ₹1000 Crore ($131 Million) had been out-paid since the inception of the board and programs have been redesigned and relaunched in 2016 under NIDHI umbrella to further diversify & strengthen the Incubators through TBI program in realising the Startup India dream along with the augmented funding, fabrication facilities, prototyping grants and fellowships. This being said, the study mainly focuses on the last 5 years only.
NSTEDB's Main Objectives
- To convert job-seekers into job- generators.
- To convert knowledge to wealth creation.
- To nurture innovators, problem solvers and startups
- To promote and develop high-end entrepreneurship for Science & Technology manpower and for self-employment – by utilising Science & Technology infrastructure and by using Science & Technology methods.
- To facilitate and conduct various informational services relating to promotion of entrepreneurship.
- To network agencies of the support system, academic institutions and Research & Development (R&D) organisations to foster entrepreneurship and self-employing using Science & Technology with special focus on backward areas as well.
- To act as a policy advisory body with regard to entrepreneurship.
NSTEDB's Key Offerings
- Capacity Building & Training Programs - Entrepreneurship Development
- Innovation Scouting & Support - PPP Programs
- National Initiative for Developing and Harnessing Innovations
- Internationalisation& Market Access
- Sprinkled Efforts to Support Innovation
NSTEDB’s FLAGSHIP PROGRAM-NIDHI
National Initiative for Developing and Harnessing Innovations (NIDHI) is NSTEDB's flagship programme for nurturing ideas and innovations into successful startups.
For more info: https://www.nstedb.com/