FREQUENTLY ASKED QUESTIONS NIFT
Foundation for Design Innovation (NFDI)
What is an NFDI Incubation Center?
NFDI Incubation Center is a holistic ecosystem for startups for their growth and development towards a successful and independent venture. The Center houses the startups, provides guidance and mentoring, and a list of benefits at a point, thereby helping them to grow. You can fine more details about our Incubation Center at www.nfdi.in
Is NFDI Innovation & Incubation Center is recognized by any Govt. department?
Yes, NFDI is recognized by DPIIT. The center is supported and recognized by NIFT & Ministry of Textiles, Govt. of India
What are the Programmers under NFDI Innovation & Incubation Center?
The Incubation Center provides:
1. Incubation – For registered companies willing to physically work/hybrid at the Incubation Center.
2. Pre-Incubation (Precube) – For groups/team/individuals having an idea but not registered as a company.
3. Acceleration – For those startups who look for rapid increase in growth or progress over a short period.
Please refer to the NFDI Incubation Policy for details, available on www.nfdi.in
What does NFDI Innovation & Incubation Center provide?
The various benefits are:
1. Technology mentorship & advisory from domain experts from NFDI/NIFT.
2. Access to the latest Design Innovation lab & Research labs
3. Co-working facility located centrally in NFDI campus
4. Safe secure location in an academic ecosystem
5. High-end technology infrastructure and facilities
6. Availability of student interns
7. Support for marketing & outreach
8. Business mentors and investors connect
9. Seed Funding support
10. Access to various expert sessions, seminars, events & trade conclaves etc.
11. Other association benefits from NIFT
What are the major areas for Incubation in your NFDI Center?
1. Home and Spaces Incubator, Delhi
2. Smart Wearable Systems Incubator, Mumbai
3. Fashion and Lifestyle Incubator, Mumbai
4. Apparel and Athleisure Incubator, Chennai
Is there any age limit to apply for NFDI incubation?
No age limit, you can apply at any age after acquiring 18 years.
Is there a timeline to apply for incubation?
You can apply round the year.
Is there any application fees?
No. The startup does not need to pay any fees to apply for NFDI incubation.
What’s the tenure of NFDI incubation?
The incubation is offered for a period of (24) months initially which can be extended for another 12 months at the sole discretion of NFDI.
Can I convert my research into a startup?
Yes, you can also convert your research into a startup.
I have an idea, can I approach the Incubation Center?
Yes, You can approach the Incubation Center for mentoring and feedback.
I am a student, but want to start a startup. Can I do it?
Yes you can start a startup company along with your academics. But NFDI Innovation & Incubation Center would not be responsible for performance in your academics while you are working on your startup.
I have an idea, should I form a Company?
The formation of the Company depends completely on you. It is advisable not to form a Company only on the basis of a mere idea. However, we advise requesting an appointment with us to discuss your idea.
Can the Incubation Center help me in forming a Company?
Yes, we can connect you with our impaneled Consultant, who can guide you about Company formation in detail. The Incubation Center may also provide you monetary support for the Company Registration Fees based on the discretion of NFDI Incubation Center.
I am not from NIFT, but have a company. Can I get incubated at NFDI Incubation Center?
Yes, Incubation Center is open for external startups as well, provided they fulfill eligibility conditions.
Please refer to the Incubation Policy for more details, available at www.nfdi.in
I am faculty/staff from NIFT, can I incubate with my idea?
We have a Pre-incubation Programme for early-stage innovators having an idea that can be converted into a startup. Overtime the startup may be offered incubation. If the startup is already a registered entity, we can incubate it based on our terms & conditions.
I am faculty/staff from NIFT/other Institutions, can I get some extra benefits while working on my startup?
It depends on your requirements and provisions within the Incubation Center.
How much we have to pay to the Incubation Center for the services provided?
The startups have to pay an Incubation Service Charge for availing the services by Incubation Center. The lists of services charges are differ service to service.
I am a student and lack financial support. Can the Incubation Center fund me to pursue my entrepreneurial career?
Incubation Center has provisions for Seed Funding based on its terms & conditions. You can refer the NFDI Incubation Policy
Also, the Center can connect you with appropriate agencies where you can pitch your idea for financial support.
Do you offer loans to startups?
No. We do not offer any loan to startups but we do have funding support options for startups.
What are the steps to get incubated?
Submit your application online at: www.nfdi.in
Your application would be screened and then you will be called for presentation in in front of the NFDI Evaluation Committee. And based on the decision of the Committee you will be offered incubation at NFDI Incubation Center.
What is expected in the presentation for the incubation?
You have to provide details of your startup, a growth plan, business model, and purpose to be the part of the Incubation Center.
What are the requirements for a company to get incubated?
Please refer to the Incubation Policy for the requirements, available at www.nfdi.in
I don’t want to incorporate a Private Limited Company. Can I still get incubated with a Proprietorship or Limited Liability Partnership firm?
The startup must have a Private Limited Company registered in India at the time of incubation at the Center. Proprietorship is not allowed. However, Limited Liability Partnerships may be considered, based on the discretion of NFDI Incubation Center.
Can I get funding from the Incubation Center?
Yes, the Incubation Center provides funding support to startups as Seed Investment .
Please refer to the Incubation Policy for details, available at www.nfdi.in
What are the eligibility criteria to apply for funding?
1. The Startup should be incubated at NFDI Incubation Center for at least six months.
2. The Startup should be a Pvt. Ltd. company
For more details please refer the NFDI Incubation Policy, available at www.nfdi.in
How can we get funding for our startup?
Apply online for our seed funding. We fund startups all around the year. Visit- www.nfdi.in
Can students/alumni of NIFT get special benefits?
Students will get 50% discount on service charges provided the samples are made for academic purpose certified by CC/HODs
Any other benefits/facilities are based on the requirements and subject to availability of the Incubation Center.
I want to develop a prototype for my idea. Can I get hardware/lab support for it?
Incubation Center has 4 Design Innovation Lab in Delhi, Mumbai and Chennai equipped with the high-end latest hardware and software.
I have an office space and don’t want to use the Incubation Center’s facilities. Can I still get incubated?
Yes, you can enroll without allocating office space.
To leverage the Incubation Center facilities & benefits you have to incubate. In such cases, you can discuss the matter with the Incubation Center.
Please refer to the Incubation Policy for details, available at www.nfdi.in
Can I get student interns from the institute for my startup?
Yes, you can get student interns from NIFT based on the Internship Policy of NIFT.
Do we need to write a business plan for Seed Funding?
When you are applying for Seed Funding, a detailed business plan and financial will be required.
We’ve already raised funding. Can we still apply?
Yes, you can apply to avail other benefits.
We don’t really need the money. Does it still make sense to apply?
Incubation Center is not only meant for providing funding. Financial support is one of the benefits.
You can avail mentorship, infrastructure facility etc. & other benefits of Incubation
What are timings of NFDI?
Monday to Friday 9 to 5.30, labs are open till 8.30 pm including Saturday*.
