Prototype Development and Innovation Fund (Entrepreneurship Cell)
Do you have a disruptive & globally competitive idea? Just convince us and we will 'startup' your innovation!
Prototype Development and Innovation Fund
Displaying the spirit of a disruptive idea, IIT Ropar has launched a Prototype Development and Innovation Fund (PDIF) with support from PTU (Punjab Technical University). PDIF aims to foster innovation within industry, academia and government bodies by engaging students, faculty and industry to work on innovative solutions based on scientific and technological understanding of industrial and societal concerns that are critical to the world around us. The PDI Fund has been established to address the technology gap between research labs and commercial products. PDIF will fund projects that would validate the commercial potential of a technology and projects that serve the immediate technological needs of the nation in general and the regional industry in particular. Governed by an eminent board chaired by Director IIT Ropar Professor M. K. Surappa, the PDIF will fund up to 20 projects in the first two years. Average contribution to a project would be Rs 10 lakh. A typical project would be a partnership between the industry and the academia with a strong case for commercialization of the technology based on the prototype to be developed in the project. Industry partners are expected to provide matching funds for prototype development.
Proposals are solicited in all areas and industries. An average funding of Rs 10 Lakh will be provided to each project for a period of one year. A matching contribution from the industry partner is expected. Higher grants may be awarded to projects of exceptional merit and innovativeness.
The PDIF will fund projects that would bridge the technology gap between research labs and industry. Typical projects will be prototype development partnerships between the industry and the academia that validate the commercial potential of a technology and serve the immediate technological needs of the industry. Application
1. Applicant to identify innovation, industry and academic partners through the Expression Of Interest (EOI).
2. Applicant to fill the PDIF Application and provide information through executive summary, detailed description of innovation, industry partner and academic partner relevance, and additional information such as rights to technology, IPR, market potential for your company's product or service offering(s), Revenue potential for the industry, growth rate etc.
3. Also, as part of PDIF Application, the Applicant is to confirm that matching funds will be contributed by the industrial partner .
4. PDIF will attempt to revert to you within six weeks of receiving your completed application. The projects will be refereed by well-known national, and where possible international, domain experts on the basis of a 'predefined quantitative model' that factors in major techno-commercial parameters .
For guidelines, application forms and other details, please write to :- Dr. Balwinder Sodhi (Executive Officer, Entrepreneurship Cell and Assistant Professor, Department of Computer Science and Engineering), Room No. 323, IIT Ropar Nangal Road, Rupnagar Punjab 140001 Phone +91 1881 242267. The PDIF will accept project proposals on an ongoing basis.
Please visit Expression Of Interest (EOI) page for submission. Please visit Application page for submission.