Venture Capitalist
Scouting and documentation of innovations and traditional knowledge will serve little purpose if these are not disseminated through commercial or non-commercial channels. Not many of these technologies would make it to market successfully without value addition and design inputs. But to do that, benchmarking these with other available alternative is essential. Tying up with private designers as well as other public design and technology institutions/individuals also facilitates the improvements in design. Most innovators are not able to become successful entrepreneurs. Linkages with entrepreneur/industry associations, management institutions and incubators helps in mobilizing mentoring and management support for grassroots innovators and TK holders. NIF has set up a Micro Venture Innovation Fund ( MVIF) with the assistance of SIDBI. It helps in extending risk capital to many ventures which otherwise are too risky for financial institutions to fund in the beginning. For licensing innovations to small and medium enterprises, or bigger companies, NIF tries to explore opportunities on behalf of the innovators. It also organizes clearing houses for business development, and blends several technologies to generate new synthetic market friendly designs. It also tries to ensure that the benefits are shared in an equitable and fair manner with the innovators and TK holders besides other stakeholders in the value chain. In addition, a share may be contributed towards conservation of nature, innovators association, and for the community development. NIF extends given its limited resources, some financial assistance to innovators, TK holders and other players in the supply chain for all activities related to technical and business incubation. It has also helped operationalize the g2G model that is 'Grassroots to Global' model of exploring global markets for grassroots innovations and tk.
Can I search grassroots innovation based enterprises which are seeking early/later stage funding?
NIF will be glad to provide you information about the enterprises seeking early stage or later stage funding from external sources.
visit the link for details� http://www.nifindia.org/bd/product_list
There is an advance search engine to select technologies based on the criteria;
- Search as per phrase given by you
- Patent status i.e. patent granted, pending, design registration
- Regional consideration based on the source of innovation
- Based on the 18 categories of technologies (http://www.nifindia.org/bd/product_category)
- Technology status i.e. ready to market, idea/concept, prototype development, testing & validation, market testing
Or else write to us at info@nifindia.org, bd@nifindia.org
For off line mode, please use address;
National Coordinator- Business Development
National Innovation Foundation (NIF)
Visit us at www.nifindia.org
Bungalow No.1, Satellite Complex, Jodhpur Tekra,
Premchand Nagar Road, Ahmedabad- 380015
Epabx: 91-079-26753501, Ph: 91-079-2673 2095/456
Fax: 91-079-26731903
What are the NIF’s success stories of technology and commercial incubation?
NIF has been able to transfer technology for 16 technologies. Some examples of wealth creation based on grassroots innovation could be read on the link:
http://nif.org.in/bd/success_stories
What is the existing due-diligence framework NIF follows for short-listing innovations?
NIF exercises due diligence on all investment proposals it receives from its associates i.e. GIANs, GIAN cell and others.
The general criteria for innovations to be taken up for commercialization would be;
- The enterprise shall be based on an ‘Accepted’ innovation by NIF.
- The technology should have foreseeable market demand and good commercial potential as per the assessment of NIF or any third party recognized by NIF.
- Entrepreneur/s should be competent; shall have sound track record / previous experience in running business/ technical or commercial expertise.
