The University of Hyderabad (UoH) Section-8 company ‘ASPIRE’ has been selected as one of the incubators under the Startup India Seed Fund Scheme. The Department for Promotion of Industry and Internal Trade (DPIIT) has created an Experts Advisory Committee (EAC) to execute and monitor the Startup India Seed Fund Scheme.
The EAC selects eligible incubators and provides grants up to ₹5 crore each. In turn, the selected incubators will provide startups with up to ₹20 lakh for validation of proof of concept, prototype development, product trials to startups. UoH is one of the first universities to create a vibrant innovation ecosystem in the country and hosting more than 45 startups on campus. More information on ASPIRE can be seen at http://bionest.uohyd.ac.in/about/, said a press release on Friday.
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