{"id":74,"date":"2022-07-13T07:42:14","date_gmt":"2022-07-13T07:42:14","guid":{"rendered":"https:\/\/ecloudsoftware.in\/blog\/?p=74"},"modified":"2022-07-14T10:40:10","modified_gmt":"2022-07-14T10:40:10","slug":"innovation-grant-disbursal","status":"publish","type":"post","link":"https:\/\/ecloudsoftware.in\/blog\/2022\/07\/13\/innovation-grant-disbursal\/","title":{"rendered":"Innovation Grant Disbursal"},"content":{"rendered":"<p>Innovation Grant would be disbursed within Tranches. There are 2 types of Tranches , ie, First Tranche and Second Tranche.<\/p>\n<ul>\n<li>half the Granted amount is disbursed in the first tranche after collecting necessary documentation, and\u00a0 the remaining amount is disbursed after the innovator\u00a0 submits interim report and utilization certificate.<\/li>\n<li>If the idea sanctioned is less than Rs 50,000 , it will be disbursed in first tranche.<\/li>\n<li>Selected ideas on Idea day will be granted a maximum\u00a0 amount of\u00a0 Rs 2 lakhs in the first Tranche.<\/li>\n<li>Selected ideas of Scale Grant will be granted a maximum amount of Rs 6 lakhs in the first Tranche.<\/li>\n<li>But special approval for both Grants is taken by the CEO .<\/li>\n<li>Startups registered as legal entities with DIPP certification will receive the amount in their own company bank accounts.<\/li>\n<li>For student innovators the fund will be transferred to the IEDC bank accounts of their respective colleges .<\/li>\n<\/ul>\n<p><strong>Documents for First Tranche\u00a0<\/strong><\/p>\n<p>The list of documents to be submitted are as follows:<\/p>\n<ol>\n<li><strong>Startups\u00a0<\/strong><\/li>\n<\/ol>\n<ul>\n<li>Address ID proof of founder signing the\u00a0 agreement.<\/li>\n<li>Scanned copy of passbook front page of the company account.<\/li>\n<li>Rs 200 worth stamp paper in name of the company.<\/li>\n<\/ul>\n<p>Agreement may be signed by any one founder . Before, Innovation Grant other rentals and loans should be cleared.<\/p>\n<p>2.<strong> Student Innovators\u00a0<\/strong><\/p>\n<ul>\n<li>Rs 200 worth stamp paper in name of IEDC.<\/li>\n<li>Scanned copy of passbook front page of IEDC account<\/li>\n<li>Copy of address\u00a0 proof of Nodal officer<\/li>\n<li>College ID card copy of Nodal officer<\/li>\n<li>Address proof of student<\/li>\n<li>College ID card copy of student<\/li>\n<\/ul>\n<p>Agreement should be signed by the Nodal officer and Student. The Utilization certificates and Progress reports should be authorized by the IEDC Nodal officer.<\/p>\n<p>3.<strong> Individual Innovators\u00a0<\/strong><\/p>\n<ul>\n<li>Rs 200 worth stamp paper in name of Individual.<\/li>\n<li>Address proof of Individual.<\/li>\n<li>Acceptance letter from any member IEDC or Incubator.<\/li>\n<li>Scanned copy of passbook front page of IEDC or Incubator account .<\/li>\n<\/ul>\n<p>Agreement should be signed by both the innovator and IEDC \/Incubator in charge.The utilization\u00a0 certificates\u00a0 and progress reports are to be authorized by the IEDC\/incubator in charge.<\/p>\n<p>If Scale grant startup\u00a0 is selected ,then it is expected to sign a commitment to contribute to a goodwill once the startup becomes sustainable.<\/p>\n<p>After the verification process , the KSUM will execute an agreement with the innovator or startups. Then they should complete\u00a0 the process by visiting the nearest KSUM Office which is in Trivandrum ,Kochi or Kozhikode. Then the Grant will be released within one week of signing the agreement as account payee cheque.<\/p>\n<p><strong>Margin Money<\/strong><\/p>\n<p>The KSUM would ask them for the margin money<\/p>\n<p><strong>Grand Type\u00a0<\/strong> \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <strong>\u00a0Margin money\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/strong>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<strong>Potential Investors\/supporters<\/strong><\/p>\n<p>Idea Grant\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 10% of Proposed cost\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Alumni\/friends \/Family<\/p>\n<p>Productization Grant\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a020% of Proposed cost\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 founders \/ investors<\/p>\n<p>Scale up grant\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a050% of proposed cost\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0investors\/ revenues<\/p>\n<p><strong>Progress Assessment<\/strong><\/p>\n<p>KSUM will assess the progress before the\u00a0 disbursement of second tranche and after the end of the project.\u00a0 To release the second tranche of fund,\u00a0 innovators should submit the interim progress update and utilization certificate. Thus the progress would be reviewed by the committee of experts set up by the KSUM\u00a0 before the balance amount is released.<\/p>\n<p><strong>Documents for Second Tranche\u00a0<\/strong><\/p>\n<p>The list of documents to be submitted are as follows:<\/p>\n<ol>\n<li><strong>Startups\u00a0<\/strong><\/li>\n<\/ol>\n<p>1. Audited utilization certificate of initial tranche.<\/p>\n<p>2.\u00a0 Progress report of the project.<\/p>\n<p>2.<strong> Student Innovators\u00a0<\/strong><\/p>\n<p>1. Utilization certificate signed by the student and approved by IEDC Nodal officer.<\/p>\n<p>2. The idea grants released should reflect in the audited\u00a0 BS\/I&amp;E accounts of the IEDC and shall be forwarded to KSUM\u00a0 yearly.<\/p>\n<p>3. Progress report of the project.<\/p>\n<p>3.<strong>\u00a0 Innovators<\/strong><\/p>\n<p>1. Utilization certificate signed by the innovator and approved by the in charge of the IEDC \/incubator.<\/p>\n<p>2. The idea grants released should reflect in the audited\u00a0 BS\/I&amp;E accounts of the IEDC\/ incubator and shall be forwarded to KSUM\u00a0 yearly.<\/p>\n<p>3. Progress report of the project.<\/p>\n<p><strong>Application support\u00a0<\/strong><\/p>\n<p>All queries related to the application process may be mailed to ideaday@startupmission.in with the subject idea day queries : Funding. They would respond to the query within 3 days.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Innovation Grant would be disbursed within Tranches. There are 2 types of Tranches , ie, First Tranche and Second Tranche. half the Granted amount.<\/p>\n","protected":false},"author":1,"featured_media":75,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/posts\/74"}],"collection":[{"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/comments?post=74"}],"version-history":[{"count":3,"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/posts\/74\/revisions"}],"predecessor-version":[{"id":78,"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/posts\/74\/revisions\/78"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/media\/75"}],"wp:attachment":[{"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/media?parent=74"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/categories?post=74"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ecloudsoftware.in\/blog\/wp-json\/wp\/v2\/tags?post=74"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}