Business Development Division at NIF
This division at NIF is especially focusing on disseminating the benefits of green grassroots innovations among large sections of the society. It considers that there is a need for a comprehensive planning that will take into account various activities related to scaling up of innovations to make them commercially attractive. For this very reason, it has to create a value chain around these innovations and build incubation support for the benefit of the consumers.
Creating Value chain and providing Incubation assistance entail financial support throughout the product development cycle. And the support augments the features of the innovative product/prototype with R&D playing a crucial role. After this fundamental assessment, Venture Innovation Fund (MVIF) support is needed for converting innovations into products, and products into enterprises. This includes various activities, which are:
- To coordinate with various entrepreneur/industry associations, management institutions and incubators to mobilise mentoring and management support for grassroots innovators and TK holder.
- To involve private and public sector industrial and financial institutions and associations in linking innovations with investment and enterprise at individual or group level.
- To help promote various innovations and outstanding TK through market and non-market channels.
- To encourage various industry associations and other developmental bodies to set up mechanisms for licensing innovations for business development and equitable benefit sharing with the innovators and TK holder.
- To help raise resources for pursuing various activities and developing innovation value chain.
- To support the operations of the National Micro Innovations Fund through public and private participation and mobilise the incubation fund and venture capital for innovators and TK holders.
- To develop business plans, market research plans, reports and training material as well self learning material for GIAN and others involved in promoting innovation based entrepreneurship.
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