Pune-based Venture Center is an autonomous government body whose mission is to helps startups, entrepreneurs and inventors in various ways. One of their initiatives is a seed fund that invests anything from Rs. 1 lakh to Rs. 25 lakhs in return for equity. They have just opened a third round of this seed fund and will be accepting applications from entrepreneurs until 15th August.
The seed fund aims to provide technology driven startups with much-needed early stage financial support for deserving ideas/technologies requiring up-scaling and related work.
Details on evaluation critera, typical investment amounts, equity stakes, deal terms, past investments, application form, business plan templates, etc. are all available here: http://www.venturecenter.co.in/seed.php
About Venture Center
Entrepreneurship Development Center (Venture Center) – a CSIR initiative – is a not-for-profit company hosted by the National Chemical Laboratory, Pune. Venture Center strives to nucleate and nurture technology and knowledge-based enterprises by leveraging the scientific and engineering competencies of the institutions in the Pune region in India. The Venture Center is a technology business incubator specializing in technology enterprises offering products and services exploiting scientific expertise in the areas of materials, chemicals and biological sciences & engineering.