Technology Innovation Programme: (Srijan)

TIFAC – SIDBI REVOLVING FUND
for
TECHNOLOGY
INNOVATION
PROGRAMME
l`tu (SRIJAN)
…Catalyzing development, demonstration, commercialization of innovative technologies
SIDBI
Technology Information, Forecasting SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA
and Assessment Council (T I F A C)

Department of Science & Technology
Govt. of India
TECHNOLOGY INNOVATION PROGRAMME
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.
Objective
The collaborative programme of TIFAC & SIDBI launched on November 01, 2010, aims at facilitating
development, demonstration and 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 Fund for Technology Innovation

TIFAC created a Revolving Fund of `30.00 crores for Technology Innovation 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 shall be done by SIDBI. The proposals
recommended both technically & financially shall be considered for sanction towards
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 .
About the Scheme
Scheme सृजन (SRIJAN)

Fund TIFAC – SIDBI Revolving Fund for Technology Innovation
Purpose Development, demonstration, up-scaling and commercialization of
innovative technology based projects by MSMEs. The Scheme will
provide developmental loan at flexible terms & softer interest rate to
encourage and promote innovative technology based process /
product / application development and its commercialization.
Eligibility New / existing Indian MSME units.
Quantum of assistance Assistance upto 80% of the total project cost, which would normally
be not more than `100.00 lakhs. Higher assistance could be
considered selectively based on innovation content in the projects.
Project Cost Ÿ Capital expenditure e.g. factory shed for the project, plants &
machinery, utilities, testing & quality control equipment etc.
Ÿ Intangibles e.g. patents/ copy rights / R&D / technology transfer
fee / licensing / Marketing / brand building expenses
Ÿ Working capital margin
Ÿ Pre-operative expenses
Ÿ Manpower cost
Ÿ Contingencies / Any other heads required for the project
Upfront Fee Not more than 0.5% of the sanctioned amount + service tax as
applicable for the sanctioned projects only.
Instruments of Finance Secured Term Loan
Rate of Interest Not more than 5% p.a.
Repayment Period Loan repayment period including moratorium should generally be
not more than 6 years from the date of completion of the project.
Security Ÿ First charge on assets (both moveable / immoveable) created / to
be created under the project.
Ÿ First / pari passu / second charge on other assets of the unit
depending upon prior charge created/ to be created
Ÿ Personal guarantees of promoters.
Promoter's Contribution Ÿ Minimum 20% of the total project cost

About TIFAC
Technology Information, Forecasting and Assessment Council (TIFAC) was set up as an autonomous
organization (registered society) under the Department of Science & Technology, Govt. of India in the
year 1988. Its activities encompass broad areas towards identifying, facilitating and implementing
technology development projects under Technology Vision 2020; undertaking technology
forecasting & assessment studies and technology & market linked business opportunity reports in
emerging technology areas of national importance. TIFAC continues to strive for technology
development in the country by leveraging technology innovations through sustained and concerted
programmes in close association with academia, R&D and industry.
About SIDBI
Small Industries Development Bank of India (SIDBI) was set up on April 02, 1990 under an Act of the
Parliament, functions as the Principal Financial Institution for the promotion, financing and
development of the micro, small and medium Enterprise (MSME) Sector and co-ordinate the
functions of the institutions engaged in similar activities. SIDBI started as refinancing institution, has
emerged as a complete financial solution institution meeting all the financial and capacity building
needs of MSME sector. SIDBI also plays a proactive role of a change agent and engages in such policy
advocacy for MSMEs, as aligned to national priorities. SIDBI gives increasing emphasis on
promotional activities in clusters to foster sustainable development of Indian MSMEs. The activities
shall also be aligned more with the emerging areas such as energy efficiency, climate change, CDM,
green rating, etc. as also those which result in improving the competitiveness of the sector.
TIFAC & SIDBI invite project proposals from MSMEs in the prescribed format,
which can be downloaded from www.tifac.org.in or www.sidbi.in
Contact for further details :
P R Basak Rajiv Kumar

In-Charge Deputy General Manager
TIFAC-SIDBI Technology Innovation Programme Energy Efficiency Centre, SIDBI
Technology Information, Forecasting & Block-"E", Ground Floor, NSIC Complex
Assessment Council (TIFAC) Okhla Industrial Area Phase-III
'A' Wing, Vishwakarma Bhavan New Delhi-110020
Shaheed Jeet Singh Marg
New Delhi - 110 016 Tel : +91-11-26382034
Fax : +91-11-26382062
Tel : +91-11-26526926, 42525759 E-mail : eec_credit@sidbi.in
Fax : +91-11-2696 1158, 26863866 Website : www.sidbi.in
E-mail : tifac.sidbi@gmail.com
Website : www.tifac.org.in

Technology Innovation Programme: (Srijan)

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TIFAC – SIDBI REVOLVING FUND

…Catalyzing development, demonstration, commercialization of innovative technologies

and Assessment Council (T I F A C)

Revolving Fund for Technology Innovation

Scheme सृजन (SRIJAN)

Promoter's Contribution Ÿ Minimum 20% of the total project cost

Contact for further details :

P R Basak Rajiv Kumar

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