Venture Center announces ARaymond CSR Grant Program (India)

Deadline: 9 January 2025

The ARaymond India Pvt. Ltd – Venture Center CSR are seeking applications to support entrepreneurs/startups working on innovative technologies with potential social impact.

Under its Corporate Social Responsibility activities, ARaymond India Pvt. Ltd. has provided funding for promising innovations through technology innovation grants and pilot grants at Venture Centre. This collaboration was launched in F.Y. 2024-2025.

Objective

Nurture and support technology ideas and innovators by providing grant funding support to the innovator and his/her team at different levels of funding such as:
- Technology Advancement Grant (TAG): Grant funding to refine and enhance an early prototype, explore potential markets, assess commercial viability of the specific applications, secure necessary approvals/certifications etc. with the goal of attracting investors for a startup company or licensors for the technology.
- Pilot grants: Pilot/demonstration funding to help entrepreneurs build a stronger case for the technical and commercial feasibility of the technology area.
- Create a powerful network of mentors, investors and other service partners to support and promote the growth of entrepreneurs.
Domain areas that this collaboration will support:
- Sustainability
- Clean Energy and Environment
- Circular Economy
- Carbon capture and utilization
- Promote innovation of modern/advanced technologies to socio-economic problem solving
- Create a powerful network of mentors, investors and other service partners to support and promote the growth of entrepreneurs.

Scope

The grant program aims to validate the technology/product by supporting development of prototypes/pilot studies/field trials. The coverage of supporting minimum viable products focuses on ways to support implementation of technologies, testing products according to societal needs, and getting to a market quickly. The program will also focus on building a strong network of peers with expertise and the duration will be 6 months.

Funding Information

The maximum support that can be provided per project is up to Rs. 5 lakhs
Duration of the project should be only up to 6 months.

Eligibility Criteria

Every project proposal will need to identify a Project Leader (PL) and an Applicant/Grantee
Applicant or Grantee should be a company or an early stage individual innovator. The Company should be registered under the Indian Companies Act, 2013.
The company should be owned by resident Indian citizens i.e. minimum 51% of the capital is beneficially owned by resident Indian citizen(s) and/or Indian companies, which are ultimately owned and controlled by resident Indian citizens.
In case of an Individual applicant, the applicant should be the Project Leader (PL).
The PL will be an individual who will take responsibility for executing the project.
PL is required to be at least 18 years of age as on the date of call for applications.
PL is required to be an Indian Citizen. An Indian citizen is defined as one who is in possession of a government approved proof of nationality such as a valid passport, voter’s id etc. Exceptional cases of foreign nationals with potential for impact in India will be considered.
PL has to pursue the project or startup full time with no other concurrent commitments during the project duration.
PL cannot be pursuing a long-term academic/research project (like doctoral students) with significant obligations during the project duration.
PL must have completed basic undergraduate training in natural sciences/engineering/medicine. Essential qualification is PhD/MTech/BTech/BPharm/MD/MBBS/BDS/MSc /MPhil/M Des/MPH/MBA/MSW and equivalents, with under‐ graduate training in Science, Medicine, Engineering. Applicants with a BSc degree with at least 1 year of full-time work or research experience shall also be eligible.

Selection Criteria