TIFAC created a Revolving Technology Innovation Fund of Rs30.00 crores 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. Support will be given as secured loan at 5% interest covering about 80% of project cost. Loan amount per project is expected to be around Rs100 lakhs. The technical evaluation of the project proposals shall be carried out by TIFAC and financial appraisal of the technically recommended proposals only shall be done by SIDBI. The proposals recommended both technically & financially shall be sanctioned for implementation by a Project Approval Committee (PAC) consisting of SIDBI and TIFAC officials. SIDBI will manage the Fund on behalf of TIFAC.
Details: PR Basak, Programme Coordinator
Technology Information, Forecasting & Assessment Council (TIFAC)
4th. Floor, ‘A’ Wing, Vishwakarma Bhavan, Shaheed Jeet Singh Marg
New Delhi - 110 016
Tel : +91-11-26526926 begin_of_the_skype_highlighting +91-11-26526926 end_of_the_skype_highlighting, 42525759
Fax : +91-11-2696 1158, 26863866
E-mail : tifac.sidbi@gmail.com
Technology Information, Forecasting & Assessment Council (TIFAC)
4th. Floor, ‘A’ Wing, Vishwakarma Bhavan, Shaheed Jeet Singh Marg
New Delhi - 110 016
Tel : +91-11-26526926 begin_of_the_skype_highlighting +91-11-26526926 end_of_the_skype_highlighting, 42525759
Fax : +91-11-2696 1158, 26863866
E-mail : tifac.sidbi@gmail.com
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