The National Design Business Incubator (NDBI) at the National Institute of Design, Ahmedabad, is meant to encourage entrepreneurs focussed on design. It aims to foster a culture of entrepreneurship in young designers so that they come up with products and services that will find a good response in the market. The objective is to create a new class of entrepreneurs – Designpreneurs – something that India needs in plenty.
Spread over 4,000 sq ft at the NID, the premier institute for design in the country, the NDBI was established in 2004 and is run as an independent legal entity.
According to Mahesh Krovvidi, CEO, NDBI, about 10 ventures are at the incubator at any given time and it admits about six new ventures every year. Though it admits any venture that is focussed on design, the NDBI concentrates on those in the health, sanitation and renewable energy sectors. The incubator is open to any venture and need not have any NID connection, as long as it into designing products. Innovation, market potential and business plan are the criteria that the ventures need to satisfy for gaining admission to the incubator. The ventures are allowed to be in the incubator for three years. The NDBI picks up about a 5 per cent stake in the ventures, from the grants available to it, according to Krovvidi.
The incubator provides air-conditioned work space with computers, IPR registration, help in forming the company, legal and accounting services, seed capital, facilitating angel/VC funding, networking with other incubators, product development and marketing.
According to information available on NDBI’s website, various funding options are available, including a Technopreneur Promotion Programme, run by the Department of Scientific and Industrial Research, through grants. Besides, the Department of Industrial Policy and Promotion has set up a ₹10-crore Venture Ready Fund (VRF) at NDBI to support young designers aspiring to become entrepreneurs. This money will be disbursed over four years through loan, equity or a mix of both.
Some of the start-ups incubated at NDBI and that have made it big are Sangaru Design Objects Pvt Ltd, Robots Alive Pvt Ltd, Yuga Design Pvt Ltd and Dhama Innovations Pvt Ltd.