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TREC-STEP through the Department of Science and Technology and Department of Scientific Industrial Research, Government of India’s sponsored funding schemes supports early stage innovative ideas/products/process in successful development of prototypes/process models and also in commercialization. The two major funding schemes at TREC-STEP for innovative ventures are as follows:
Strategic Support Package
– for charting a defining course of the venture with respect to markets, technology, venture plan, etc. for enabling accelerated start-up venture growth.
– Provision of physical infrastructure support such as nursery incubation space, electricity and water connections, access to common production facility, internet and office support in one shot with minimum effort, will help a start – up entrepreneur.
– Funding plans for harnessing suitable start-up funds, in tune with the venture strategy. Due diligence process and developing financial prudence are key areas of concern addressed in this package.
IPR Strategy Facilitation Package
–TREC-STEP has a network of IPR Attorneys across the nation, who have been sensitized about the requirements of start-ups.
Internationalization and ICT support Package
– TREC-STEP through its World Bank, EU and other Projects, is well connected with international Business Incubator networks, which offer great potential for cross border venture creation. In this package both global connectivity and the ICT support needed for young start-ups are provided.