The governments of the United States of America and India have come together for the promotion of innovations and entrepreneurship through United States-India Science & Technology Endowment Fund (USISTEF). The concerned departments of these governments raised this opportunity to promote joint activities that could provide a better tomorrow for the people across the globe.
USISTEF is a competitive grant program that selects and supports technologically sound and economically promising ideas. The individuals need to highlight the priority areas through their innovative ideas. The ‘Priority Areas‘ where innovations are to be stimulated are Healthy individual and Empowering citizens.
- A Bi-national team; minimum of one partner each in US and India with at least one of them being a commercial entity.
- The idea being proposed should possess the following characters –
- Exciting innovation with strong S & T component.
- Sound Business Plan with sustainability and practicality as its roots.
- Commercially Viable providing more reliable solutions.
- Socially Impactful creating a lasting impact in its own way.
- Read more on Eligibility
- The fund provides a grant size up to INR 2.50 crores or approx. USD 400,000 (awarded in INR).
- Helps the individual to shape his/her business idea into a reality and provide a stand in the market.
- Create a login ID. The application process comprises of five sections –
- Fill up basic information like names, addresses and contacts.
- Write a summary in 500 words with essential points about –
- The problem that the team is trying to solve.
- An elaborate idea of the proposed solution.
- The working prototype of the idea.
- Distinguishing factors of the idea from the existing ones.
- The significance of the Societal Impact it can produce.
- Provide them with a detailed proposal and business plan covering all the crucial points –
- About the innovation.
- About the team and the business plan; highlighting the strengths of the collaboration between the Indian and the U.S partners.
- Budget information is to be presented. Give the details about the funding requirements with realistic views.
- A declaration is needed to be read before submitting and approval by both the partners is required for the completion of the process.
- Visit the Website
The last date for submission is 15th June 2018.