Next Generation Incubation Scheme or “NGIS” is a futuristic & comprehensive incubation scheme entrusted by MeitY to STPI for implementation.
NGIS has a vision to promote & support innovative start-ups working towards software product development (including embedded electronics)through a synergized pan-India approach. NGIS focusses on start-ups from 12 Tier-II locations across India viz. Agartala, Bhilai, Bhopal, Bhubaneswar, Dehradun, Guwahati, Jaipur, Lucknow, Prayagraj, Mohali, Patna, Vijayawada.
NGIS has a budgetary outlay of Rs. 95.03 Crores over a period of 3 years. It targets to incentivize 300 select start-ups with seed-fund of upto 25 Lakh. Other expenses are earmarked towards marketing support, Intern/Challenge Grant, software product security testing service, Hackathon/Challenge, Manpower &Management etc.
NGIS’ offerings encompass the following:
- Ready to work P&P incubation within the constraint of lockdown & thereafter.
- Full-fledged security & vulnerability testing of Software Products through the dedicated Software Product Security Testing (SPST) facility.
- Additional facilities and services of the pan-India domain specific CoEs of STPI may be leveraged.
- Mentoring support.
- Access to VCs for funding support.
- Networking opportunities/Industry connect and Go-to market support for exhibiting/showcasing products/solutions through various National/International events/workshops/exhibitions.
- Advisory Services such as HR, Legal, Accounting, IPR/Patenting & others.
- Cloud Credits from leading third-party service providers.
- Start-ups who are in ideation stage may be selected under pre-incubation programme& mentored for up-to six months to evolve their business plan & solution around the proposed idea. Each intern (start-up under pre-incubation) will be paid Rs. 10,000/- per month for a period of 6 months.
- Seed funding of upto Rs. 25.00 Lakhs will be provided to each beneficiary/supported Start-ups based on innovativeness of idea, novelty of solutions, strength of team & soundness of business proposal.