Navrachana University (NUV) is the only Private University in Vadodara, to get recognition by Ministry of Micro, Small and Medium Enterprise (MSME), Government of India, for being eligible to set up Business Incubator with SEED Grant upto 1 Crore. Innovators will get financial assistance upto 15 lakhs for nurturing the ideas/projects (per idea) through NUV-BI, also NUV can avail Capital Support upto 1crore for setting up advance laboratories or adding equipment or machines required by the University. Under the MSME scheme, any student or individual, who has an innovative idea, can apply for financial support, irrespective of their educational background or geographical location. Navrachana University will support financially the innovators and student startups with the help of seed grant available.
The main objective of the scheme is to encourage and support untapped creativity of individual and to promote adoption of latest technologies in manufacturing as well as knowledge based innovative MSMEs.
Government of India, Ministry of Micro, Small and Medium Enterprises (MSME) had launched incubation scheme in 2019 to support innovative ideas of students and promoting student startups and invited applications from Institutes/Universities across the Nation. After rigorous screening, Navrachana university got recognition as Host Institute. —
