CSR Funding for Technology Incubators Fighting COVID-19
Technology innovation has a significant role to play in the fight against COVID-19, strengthening the country’s foundations, and in predicting and combating the spread of future infectious diseases. With the ongoing global health crisis, science has been at the forefront of the battle against Covid-19 and our nation is fortunate to be making great strides in policy and technology to tackle this pandemic.
Policymakers are launching bigger, more sweeping interventions to deal with the situation. The Ministry of Corporate Affairs (MCA) has recently decided to expand the scope of Corporate Social Responsibility (CSR) to include funds spent on COVID-19 related activities as CSR (Circular No 05.01.2019-CSR). The MCA has also expanded the scope of CSR with a view to spur the Research & Development (R&D) and innovation ecosystem in the country. The Schedule VII of the Companies Act now recognizes any contribution to incubators funded by Central or State Government or any Government agency engaged in conducting research in science, technology, engineering and medicine as falling within the ambit of CSR.
In this regard, the Social Impact Team at Invest India has created a repository of research funds, tech incubators, and start-ups focused on COVID-19 intervention that can be supported by CSR spending. If you are interested in donating or directing your CSR funds towards these technologies, please reach out to us at firstname.lastname@example.org. For additional information regarding how to utilize your companies CSR funds to combat the Coronavirus outbreak, please reference the Channelizing CSR to Battle COVID-19: Initiatives by Invest India blog.
Please find below the various grants you can contribute to that will help fund research & technologies aimed at containing COVID-19:
|Name of the Organization(s) and Fund||Description|
|Biotechnology Industry Research Assistance Council (BIRAC): COVID-19 Research Consortium||
The DBT is a Governmental body mandated to promote the Biotechnology industry within the country.
BIRAC is a not-for-profit enterprise established by the DBT to empower strategic Biotech research and innovation.
The Fund will provide grants to organizations or individuals who are focused on developing diagnostics, vaccines, novel therapeutics including repurposing of existing drugs, and any other intervention for the control of COVID-19. Projects proposals submitted will be judged on the criteria of affordability, scalability, and adoptability for wide-spread use.
|Technology Development Board: Fighting COVID-19||
The Technology Development Board is a Governmental body that is mandated to promote development and commercialization of indigenous technology and adaptation of imported technology for wider application.
The Board is supporting Indian Companies and Enterprises who are focused on COVID-19 solutions for protective gear, thermal scanning, sanitization & sterilization, bioinformatics & surveillance, diagnostics kits, and ventilators.
Science and Engineering Research Board:
COVID-19 Intensification of Research in High Priority Areas (IRHPA) Call
Short-term Core Research Grant special call on COVID-19
The Science and Engineering Research Board (SERB) is a Governmental body that is mandated to promote the research in Science and Engineering and to provide financial assistance to persons or entities engaged in such research.
The Board is conducting a special 3-year IRHPA for COVID-19 and related respiratory viral infections. Academic institutions will compete for IRHPA support.
The Board is also providing grants for projects aimed at quickly combating COVID-19 using new technology, engineering, or bioengineering.
|Untied States – India Science and Technology Endowment Fund (USISTEF): Special Call for COVID-19 Ignition Grants||
USISTEF is an organization aimed at supporting and fostering joint applied R&D and commercialization of technology in the U.S. and India.
The Fund is providing grants to project proposals aimed at developing and implementing new technologies, tools, and systems to address COVID-19 related challenges.
- Indian Institute of Technology (Bombay, Kanpur, Delhi, Guwahati)
- Indian Institute of Science, Bangalore
- Atal Incubation Center by Niti Aayog
- Department of Science and Technology
- The Ministry of Electronics and Information Technology
- Venture Center, NCL Pune
- Bio-Nest Incubators