Apply for Foundation for Technology & Business Incubation

Introduction

In India’s rapidly growing startup ecosystem, one of the biggest challenges for new entrepreneurs is securing the initial capital required to transform an innovative idea into a sustainable business. This early-stage capital — known as seed funding — can determine whether a startup remains a concept or evolves into a successful company.

The Foundation for Technology & Business Incubation (FTBI), located at the National Institute of Technology (NIT), Rourkela, bridges this critical gap between innovation and implementation. As a part of the Startup India Seed Fund Scheme (SISFS), FTBI provides essential funding, mentorship, and infrastructure to help startups navigate the early stages of their journey.

This article is your complete roadmap to understanding how to apply for the FTBI Seed Fund Incubator, including eligibility, application steps, benefits, and insights from its thriving startup ecosystem.

1. About Foundation for Technology & Business Incubation (FTBI)

The Foundation for Technology & Business Incubation (FTBI) is a not-for-profit organization established to foster a culture of innovation and entrepreneurship at NIT Rourkela and beyond.

It serves as a bridge between academic research and industrial application, empowering innovators to convert technology-based ideas into scalable business ventures.

Vision

To be a catalyst for technology-driven entrepreneurship and contribute to India’s innovation-led economic development.

Mission

To promote and nurture entrepreneurship through incubation support.
To provide access to funding, mentoring, and technical expertise.
To facilitate collaboration among academia, industry, and government.
To create a robust ecosystem for startups that can generate jobs and drive impact.

Key Highlights

✅ Recognized under Startup India Seed Fund Scheme (SISFS)
✅ Supported by NIT Rourkela and the Ministry of Education’s Innovation Cell
✅ Focus areas include technology, manufacturing, AI, health, agritech, and IoT
✅ Supported 100+ startups across diverse innovation domains
✅ Offers access to labs, mentors, and investor networks

FTBI is not just an incubator — it is a launchpad for future innovators, empowering creators to transform bold ideas into viable business models.

2. Understanding the FTBI Seed Fund Program

The FTBI Seed Fund Program operates under the Startup India Seed Fund Scheme (SISFS), initiated by the Department for Promotion of Industry and Internal Trade (DPIIT).

The aim is simple yet impactful — to provide financial assistance to early-stage startups for developing prototypes, testing products, and bringing innovations to the market.

Funding Structure

Grant Support (Up to ₹20 Lakhs)
For proof-of-concept, prototype development, and product validation.
Investment Support (Up to ₹50 Lakhs)
Offered as debt or convertible instruments for product commercialization and scaling.

This funding acts as the foundation for many entrepreneurs who need that first push before raising larger rounds of investment from angel investors or venture capitalists.

3. Objectives of the FTBI Seed Fund Program

The FTBI Seed Fund Program is designed with specific goals in mind:

To encourage entrepreneurship among youth, researchers, and innovators.
To support prototype development and early operations through financial grants.
To bridge the gap between ideation and commercialization.
To create a self-sustaining startup ecosystem in Eastern India.
To facilitate collaboration between academia, industry, and government bodies.
To drive innovation-led employment generation and regional development.

4. Eligibility Criteria for Startups

Before applying for the FTBI Seed Fund, startups must ensure they meet the eligibility requirements outlined by DPIIT and Startup India.

✅ DPIIT Recognition

Your startup must be recognized by the Department for Promotion of Industry and Internal Trade (DPIIT).

✅ Legal Entity

Must be registered as a Private Limited Company, LLP, or Registered Partnership Firm.

✅ Age of Startup

Should not exceed 10 years from the date of incorporation.

✅ Turnover

The annual turnover should not exceed ₹100 crore in any financial year.

✅ Innovation Criteria

The startup must be developing a product or service that involves innovation, technology, or scalability with commercialization potential.

✅ Seed Fund History

Startups that have already received ₹10 lakhs or more under SISFS from another incubator are not eligible to apply again.

These criteria ensure that only genuine early-stage startups focused on innovation receive the necessary financial boost.

5. Focus Areas Supported by FTBI

FTBI supports startups across a diverse range of technology and impact-driven domains.

Key Focus Sectors:

AgriTech & Food Processing
HealthTech & BioTech
CleanTech & Renewable Energy
Artificial Intelligence (AI), Machine Learning (ML) & IoT
Smart Manufacturing & Industry 4.0
EdTech & Skill Development
Electronics & Embedded Systems
Social Impact & Rural Innovation
FinTech & SaaS Solutions

This wide coverage allows entrepreneurs from both deep-tech and social enterprise sectors to access vital resources and mentorship.

6. Step-by-Step Process to Apply for FTBI Seed Fund

Applying for seed funding at FTBI is a structured yet simple process. Below is the complete step-by-step guide:

Step 1: Register on the SISFS Portal

Visit the official Startup India Seed Fund Scheme (SISFS) portal and create your startup profile.
👉 https://seedfund.startupindia.gov.in
Complete your DPIIT recognition process if not already done.

Step 2: Choose FTBI as Your Preferred Incubator

From the incubator list, select Foundation for Technology & Business Incubation (FTBI), NIT Rourkela as your preferred incubator.

Step 3: Fill Out the Application Form

Provide complete details including:

Problem statement and innovative solution
Market opportunity and target audience
Product development stage
Funding requirements and planned utilization
Business model and scalability potential

Step 4: Upload Supporting Documents

Attach the following:

DPIIT Certificate
Certificate of Incorporation
Founders’ KYC and PAN
Pitch Deck / Business Plan
Financial Statements (if available)
Prototype or product details

Step 5: Evaluation and Screening

Applications are reviewed by FTBI’s Screening Committee, which assesses:

Innovation and feasibility
Market demand and scalability
Technical strength and team capability

Step 6: Pitching Session

Shortlisted startups are invited to present their ideas before the Seed Fund Evaluation Committee, comprising industry experts, investors, and academicians.

Step 7: Approval and Onboarding

Selected startups are onboarded into the FTBI incubation program and receive funding in tranches as per predefined milestones.

7. Benefits of Joining FTBI

FTBI provides much more than funding. It offers an ecosystem designed to help startups grow sustainably.

Key Benefits:

✅ Financial Assistance

Receive up to ₹50 lakhs for prototype development, testing, or commercialization.

✅ Mentorship Support

Access to a wide network of mentors from academia, research, and industry who provide guidance on technology, business models, and scaling.

✅ Infrastructure & Facilities

Leverage world-class R&D infrastructure, laboratories, and co-working spaces at NIT Rourkela.

✅ Market Access & Networking

Get connected to potential clients, corporates, investors, and government bodies through demo days and events.

✅ Business Support Services

Avail assistance in company registration, IP filing, accounting, and legal compliance.

✅ Investor Connect

Pitch your idea to venture capitalists and angel investors for next-stage funding.

✅ Skill Development

Participate in workshops, training programs, and bootcamps on leadership, marketing, and fundraising.

8. Success Stories from FTBI

FTBI has supported numerous startups that have grown into successful, impactful ventures. Here are a few inspiring examples:

AgroNXT: A smart agriculture platform using IoT for real-time farm monitoring and yield optimization.
BioRevive Labs: Innovating affordable biotech diagnostics for rural healthcare access.
E-Live Engineering: Developing industrial IoT-based predictive maintenance solutions.
GreenLoop Energy: Building renewable microgrid systems for remote communities.

Each success story demonstrates FTBI’s mission to empower innovators who combine purpose with technology.

9. Why Choose FTBI?

Choosing the right incubator can define your startup’s growth trajectory. Here’s why FTBI stands out:

✅ Government Recognition: Officially supported under the Startup India Seed Fund Scheme.
✅ Academic Backbone: Backed by the resources and expertise of NIT Rourkela.
✅ Innovation Focus: Encourages research-led and technology-driven startups.
✅ Strong Network: Mentorship, investors, and corporate connections under one roof.
✅ Regional Development: Empowering startups from Eastern and Tier-2 cities.

FTBI’s approach is holistic — it combines knowledge, capital, and connections to create successful founders.

10. Contact Information

📍 Address:
Foundation for Technology & Business Incubation (FTBI),
National Institute of Technology (NIT), Rourkela – 769008, Odisha, India

📧 Email: ftbi@nitrkl.ac.in
🌐 Website: www.ftbi-nitrkl.org
📞 Phone: +91-661-246-4012

Conclusion

The Foundation for Technology & Business Incubation (FTBI) is more than an incubator — it’s a movement that empowers innovators to create meaningful change.

Through seed funding, mentorship, and world-class infrastructure, FTBI transforms ideas into scalable ventures that drive India’s innovation economy forward.

If you’re an aspiring entrepreneur ready to take your idea to the next level, now is the time. Apply through the Startup India Seed Fund Portal, select FTBI, and begin your journey toward building a market-ready innovation.

Because at FTBI — every idea has the potential to change the world.