IIT Hyderabad and NMDC collaborated for 5-year Incubation and Fellowship Program
Together IIT Hyderabad & NMDC launched a new 5-year Incubation and Fellowship program. Both IIT Hyderabad and NMDC limited collaborated and launching this 5 year incubation and Fellowship program. The program will be commencing from November 2020 and the program is named as NICE program.
The initiative is more concentrates and aims to support tech startups by providing them incubation and fellowship support. Students who want to apply for the program can visit the official site of niceprogram.in to apply.
The main objective of NICE is to promote the spirit of entrepreneurship and innovation in the country and to support the Startup India movement.
The five-year program would support 5 fellows and 15 startups by providing them financial aid, mentoring support, co-working space, other infrastructural benefits, and many more. With this NICE program, aims to support 5 startups every year with the financial aid of up to INR 25 lakhs to convert their POC into a scalable business.
NICE was launched on November 6 by Sumit Deb, Chairman-cum-Managing Director, NMDC Limited in presence of Prof B S Murty, Director, IIT Hyderabad. Its launch event was done virtually and attended by students, faculties, and team members of the organizations.
Furthermore, the Incubation and Fellowship program would also assist 5 fellows every year with the monthly stipend of INR 80,000 for 12 months to support their sustenance and prototype development.
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