NICE programme inaugurated by IIT-Hyd and NMDC Ltd to help startups

The five-year joint programme will benefit 15 fellows and 15 startups by providing them with financial help, mentoring and infrastructural support.

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The Indian Institute of Technology (IIT) Hyderabad and NMDC Limited with their combine effort have decided to build a startup ecosystem for tech entrepreneurs which will be furnished through the NMDC Innovation and Incubation Centre (NICE) programme.

With developing new innovative ideas in deep technology, the programme aims at encouraging, nurturing and incubating startup companies in India. 

The program was launched on November 6 by Sumit Deb, Chairman-cum-Managing Director, NMDC Limited in presence of Prof B S Murty, Director, IIT Hyderabad. The launch program was conducted virtually that was attended by students, faculties, and team members of the organizations.

Prof B S Murty, IIT Hyderabad Director said, “The vision of IIT Hyderabad is to be the cradle for inventions and innovations. This joint program is one important step taken towards the vision of IITH and the commitment to supporting entrepreneurship and innovations. This program would also act as a template for Industry-Academia collaboration to enrich the Startup India initiatives.”

The five-year joint programme would help 15 fellows and 15 startups by providing them with financial aid, mentoring support, co-working space, and other infrastructural advantages. 

National Mineral Development Corporation has backed the programme,  with a fund of Rs 10 crore. The programme intends to promoting and supporting five startups every year with monetary assistance up to Rs 25 lakh to build a scalable business. As part of the

Another element of the programme aims at facilitating five fellows by supporting them every year with a monthly stipend of Rs 80,000 for a period of 12 months.

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The applications process for the fellowship will start soon and candidates who wish to apply for the fellowship can apply through

The joint programme between NMDC Limited and i-TIC Foundation, IIT Hyderabad aims to assist deep-tech startups by providing them incubation and fellowship support.