The objective of the scheme is to provide early stage funding for nurturing innovative business ideas (new indigenous technology, processes, products, procedure etc.) which could be commercialized in a year. Under this scheme financial assistance is provided for setting up of business incubators.

Any individual or MSME having innovative idea near commercialization can apply to the host institution (e.g. IITs, NITs, Technical Colleges, Research institutes etc), please see the list of host institutions at http://www.dcmsme.gov.in/schemes/Institutions_Detail.pdf
Any technical institution (as given in EOI) which wants to become host institution can apply to office of Development Commissioner– MSME (DC-MSME) or their nearest DIs for funding support.

Funding support for setting up of ‘Business Incubators (BI)’

The cost may vary between Rs. 4-8 lakh for each incubatee / idea, subject to the overall ceiling of Rs. 62.5 lakh for each BI.

• The scheme is based on Request for proposal (RFP)/Expression of Interest (EOI) and application by the technical institution , which wants to be host institution can be made by it , once an RFP is released.
• Any individual or MSME can apply directly to their nearest host institution , a list of host institution is given on the website http://www.dcmsme.gov.in/schemes/Institutions_Detail.pdf

To ensure the participation of the entrepreneurs in a PPP mode, it has been proposed that 15% and 25%, as the case may be, of the cost of intervention, will be borne by Micro and Small Enterprises respectively, wherever applicable
More information on the scheme visit: http://www.dcmsme.gov.in/schemes/incubator.htm