Innovation Fund


The budgets for Challenge-driven Innovation projects are anticipated to range between Rs. 10 million – 100 million, with a maximum project duration of 3 years. Co-financing – including in kind and cash contributions – by industry partners will be considered a merit and is an indicator of industry support. Complementary financing for the projects is desirable. The grant awards will be made and administered through the lead partner institution. The project budget can finance the following activities:

⦁ Salaries for PI and co-PIs based on the amount of time spent on the project
⦁ Stipends for bachelors, masters, doctoral students and post-doctoral scholars to conduct the research and innovation activities including product development and testing
⦁ Travel to national and international meetings to present research results obtained and in support of the proposed research
⦁ Processing fee for open access journals for disseminating research results obtained
⦁ Patent filing
⦁ The purchase and maintenance of appropriate, approved equipment and supplies to conduct the research proposed
⦁ Institutional overheads
⦁ A component of the grant will be earmarked for the problem solving (i.e., it will be released only if there is a demonstrable evidence of success in solving a problem).
⦁ Limited research and development costs.