About Seed Funding Scheme

Seed Funding Scheme

IFERP - Innovative Project Seed Funding Scheme

IFERP provides an opportunity for the Students and Research Scholars to receive financial assistance for their innovative Projects for Proof of concept (POC), Prototype development, Product trials, Validation, Market entry, and Commercialization.

What is IFERP - Innovative Project Seed Funding Scheme?

For the researchers and students, easy availability of capital is essential for their innovative project ideas and startups

Innovative ideas can obtain funding from IFERP only after they have demonstrated a proof of concept.

It is essential to provide seed funding to innovative ideas in order for them to conduct proof of concept trials. The seed fund will be distributed by IFERP to the students and researchers who submitted innovative project ideas

Objectives

IFERP - Innovative Project Seed Funding Scheme seeks to assist students and researchers by providing financial assistance for proof of concept, prototype development, product trials, validation, market entry, and commercialization of their innovative project ideas.

This would allow these innovative project ideas to progress to the point where they could seek investments from IFERP.

Many innovative project ideas fail due to a lack of early-stage capital required for proof of concept, prototype development, product trials, validation, market entry, and commercialization.

Seed Funding provided to such promising cases can have a multiplier effect in the validation of many project ideas, resulting in implementation.

Eligibility Criteria

Must be a student or research scholar in an accredited university.

Project must get approved by the mentor/guide

Any students or research scholars can apply

The project must have an innovative idea to develop a product or a service with a market fit, viable commercialization, and scope of scaling.

The innovative project idea should be using technology in its core product or service, or business model, or distribution model, or methodology to solve the problem being targeted.