Eligibility Criteria
*Domestic Company: shall be defined as those which are owned by resident Indian citizens as defined in the FDI Policy Circular of 2017 or extant norms. A company is considered as 'owned' by resident Indian citizens if more than 50% of the capital in it is beneficially owned by resident Indian citizens and/or Indian companies, which are ultimately owned and controlled by resident Indian citizens. The funded company(ies) will be required to refund back the funds disbursed under the Project at the RBI rate plus a basis point; if they lose their domestic status within 4 years of taking financial incentives under the Project. There will be no such encumbrances of IPR or refund of funds on the company after 4 years of taking financial incentives
As a Lead Organization can form consortium with the other partner(i.e. Startup/MSME/Domestic Company) to leverage the expertise of the partner - Design/ Fabrication/ ATMP/ Sales or any other relevant expertise required to perform the tasks of this Call for Proposal as per following terms:
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