The programme is aimed at identification, assessment of technology innovations and to facilitate scaling up by industries particularly MSMEs. Technical assessment is carried out by TIFAC while SIDBI carries out the financial appraisal.
Need for developing national capabilities to innovate and create business opportunities in emerging technological areas has been acutely felt as there continues to be a dearth of early stage funding for commercialization of innovations by MSMEs due to higher risks of investment in un-proven technologies. Thus, major proportion of the available early stage funding gets invested in relatively low risk opportunities based on proven technologies, thereby limiting innovations to reach the market.
The collaborative programme of TIFAC & SIDBI launched on November 01, 2010, aims at facilitating development, demonstration and scaling-up (commercialization) of technology innovation projects pertaining to new product or process development to encourage and promote development of capabilities in MSMEs to innovate and to bring high-risk innovations to the market for opening up opportunities for business linked with innovations.
Revolving Technology Innovation Fund
TIFAC created a Revolving Technology Innovation Fund of Rs30.00 crores and placed it with SIDBI to provide assistance to MSMEs for development, up-scaling, demonstration and commercialization of innovative technology based projects.
MSMEs seeking financial assistance from the Fund for technology innovation projects may send detailed project proposal either to TIFAC or SIDBI. The technical evaluation of the project proposals shall be carried out by TIFAC and financial appraisal of the technically recommended proposals only shall be done by SIDBI. The proposals recommended both technically & financially shall be sanctioned for implementation by a Project Approval Committee (PAC) consisting of SIDBI and TIFAC officials. SIDBI will manage the Fund on behalf of TIFAC. The detailed format for submission of proposals may be downloaded from www.tifac.org.in or www.sidbi.in
GUIDELINES FOR PROJECT FUNDING Click here for the details
To see the Brochure TIFAC – SIDBI TECHNOLOGY INNOVATION PROGRAMME
Progress Report of SRIJAN Programme up to March 31, 2015
Who can apply: New / existing company / firm for seeking financial assistance
Name of Scheme: TIFAC-SIDBI Revolving Technology Innovation Fund SRIJAN
SRIJAN Application format (Technical) [PDF] [WORD]
SRIJAN Application for Loan upto 1 crore (Financial) [PDF] [WORD]
SRIJAN Application for Loan upto 50 lakh (Financial) [PDF] [WORD]
To see the list of TIFAC – SIDBI Technology Innovation Programme Projects
P. R. Basak
TIFAC-SIDBI Technology Innovation Programme
Technology Information, Forecasting &
Assessment Council (TIFAC)
‘A’ Wing, Vishwakarma Bhavan
Shaheed Jeet Singh Marg
New Delhi - 110 016
Tel : +91-11-26526926, 42525759
Fax : +91-11-2696 1158, 26863866
Website : www.tifac.org.in