The main objective of this Schemeis to promote and support untapped creativity and to promote adoption of latest technologies in MSMEs that seek the validation of their ideas at the proof-of-concept level.

Any person as individual or MSME, having the innovative ideas are eligible to avail the benefits of this scheme. The person should have innovative sort of idea which can be converted into prototype and further in business activity. The person is being called Incubatee.

There is no qualification bar to become incubatee. However, MSME should have valid Udyam Registration (UM) and individual should have Aadhar card number.

The person (incubatee) should get attached with any Host Institute (HI) for nurturing of their idea in Business incubator (BI) being set up by HI.

Host Institute (HI) : Institute which set up Business Incubator and provides the infrastructural and technical facilities for nurturing of new innovative ideas is called Host Institutes (HI). Business Incubator (BI): A specific place/workshop located in HI having facilities for nurturing of idea of Incubatee is called Business Incubator.

Institutions such as Technical Colleges, Universities, other Professional Colleges/Institutes, R&D Institutes, NGOs involved in incubation activities, MSME-DIs/ Technology Centres or any Institute/Organization of Central/State Government may apply for HI and set up a Business Incubator (BI).

Host Institutes will set up Business Incubator (BI) and provides the space, equipments, lab and all the auxiliary support to the incubatee for nurture of his ideas for the business activities.

Incubatees and eligible institutes of all states/UTs can take benefit of the scheme. However, Institutes in the North East Region will be given priority for supporting BIs.

The person (incubatee) should get attached with any Host Institute (HI) for nurturing of their idea in Business incubator (BI) being set up by HI.

Financial support for all activities will be given to HI only and no funds can be transferred to incubatee’s account.

Incubatee can get support from BI on all issues related to technology,innovation,mentor, plant & machinery required for nurturing of idea.

If any facilities of plant & machinery which are essential for nurturing of idea and same are not available in HI/BI , then incubate can utilize the facilities of machines available in other places . Incubatee can utilize these facilities on pay as usage basis through HI/BI only.