Rs 52 lakh grant to NID incubation wing

The Ministry of Micro,Small and Medium Enterprises has given a grant of Rs 52 lakh to the incubation wing of the National Institute of Design to support 10 new design-based ideas and start-ups. “The Ministry has granted us Rs 52 lakh to be distributed among 10 design-based enterprises. We’ll decide which enterprises to take on board by March next year,” said Mahesh Krowidi,CEO of the National Design Business Incubator (NDBI). The scheme will be implemented through the Public Private Partnership (PPP) model,in which micro enterprises will contribute 15 per cent for micro and 25 per cent for small enterprises. NDBI will lend studio and laboratory support to the start-ups at the Ahmedabad and Bangalore centres.