Business Idea and Technology
- Prototype Development: Prototyping is translating the ideas/ concepts into a model or replica. The NIF receives entries for its annual competition in the form of idea, proof of concept, workable prototype and in some cases ready-to-market products. For all innovations in early stage are validated by seeking expert opinion from technical institutions and subsequently supported for prototype development on need basis. The innovator or partnering institute or entrepreneur performs the value addition depending on the case to case basis. Further NIF gets it assessed by its partner research institutions viz. NID, IITs', etc. or by reliable vendors.
- Testing, Validation & Certification: Before the claims of the innovator are made public, the innovation goes through a process of testing (to check whether the designed product functions robustly under a wide range of operating conditions), validation and certification from required agencies. The NIF has established linkages with several premier research and technological institutions at the national level for this purpose. A MOU has been signed with CSIR – fellows will be hired to work under CSIR scientists for VARD. The NIF has been working closely with various institutions like IIT Mumbai, IIT Delhi, IIT Kanpur and agriculture universities for testing, validation and certification of promising innovations.
- Market Research/ Test-Marketing: The Business Development team of NIF conducts market research and draws up business plans directly and/or with the help of entrepreneurs, consultants, students and mentors. We engage national and international students for working on our innovations to conduct market research through internship and Annual Business Plan competition for MBA students which generates insights into innovations and relevant industry and forms the basis for drawing up final business plans.
- Commercialization of Technology: The NIF Business Development (BD) Team is dedicated to business planning guidance i.e. demand forecasting, risk assessment, operation plan, financial feasibility, strategic networking, etc. BD websites, registration on other trade portals helps in technology licensing and sale of the products.
- IP Protection: The NIF provides assistance to innovators to enter into licensing arrangements with entrepreneurs for transfer of technologies. Our IPR Cell coordinates with different IP offices to secure IP protection in India and other countries for the grassroots innovators on need basis and in addressal of queries.
