This NSTEDB program has ended and is no longer operational.
Introduction
With technological advancement having become the component for achieving organizational progress, it was the endeavor of National Science and Technology Entrepreneurship Development Board(NSTEDB) of the Department of Science and Technology (DST) to work with organizations which specialized in scaling up and translation of various market feasible technological innovations by promoting entrepreneurship and innovation led enterprises. The i-STED Program was a focused effort to bring about an inclusive socio-economic development by addressing the challenges associated with a specific region/industry/cluster by connecting interventions of Science and Technology and innovative solutions with entrepreneurial opportunities.
The existing challenges may have been in some of the priority areas i.e energy, water, affordable health, affordable housing, waste management and any specific industry sector/cluster. Some of the innovative solutions/technologies identified and taken up under the program were translated into economic gain and wealth creation. These enterprises were able to generate good societal and market acceptability. It aimed at inculcating strong entrepreneurial orientation in people to translate innovative /developed S&T solutions in the market.
The entrepreneurial enterprises subsequently translated the identified innovative solutions by tapping the market opportunities and aligning with appropriate business models. The value-added products and services were offered to end customers at an affordable price to have good market outreach. The program generated demonstrable avenues for new sustainable enterprises, large-scale employment, and sustainable wealth creation, and thus contributed towards socio-economic development in the country.
Objectives
The program aimed to identify challenges and issues in an area/industry/cluster and its solutions based on technological interventions and innovative approaches. These solutions needed to be further aligned with entrepreneurial opportunities to generate socio-economic development. The projects under the program aimed to demonstrate better avenues for the creation of sustainable enterprises and the generation of jobs connected with the proposed technological solutions. The projects also targeted to demonstrate sizeable impact creation within a five-year timeframe.
The broad objectives of the project were:
- To identify and address, key challenges and problems for specified geographical region (s)/ industry sector or cluster /society covering both rural and semi-urban areas i.e. gaps in innovation to market value chain.
- To tap fully developed and validated technologies from different sources such as traditional sectors /existing clusters, R&D institutions, technology providers, local innovations and solution oriented R&D etc. having good market potential.
- To explore and promote entrepreneurial opportunities in a systematic manner which may arise for commercial application of various products/services developed through above technologies.
- To improve performance of existing enterprises through systematic application of innovative S&T interventions.
Program Output
- Key challenges and problems for specified geographical regions/industry sectors or clusters/societies covering both rural and semi-urban areas, i.e. gaps in innovation to market value chain, were identified and addressed.
- Fully developed and validated technologies were tapped from different sources such as traditional sectors/existing clusters, R&D institutions, technology providers, local innovations, and solution-oriented R&D, etc. having good market potential.
- Entrepreneurial opportunities were explored and promoted in a systematic manner, which arose for the commercial application of various products/services developed through the above technologies.
- The performance of existing enterprises was improved through the systematic application of innovative S&T interventions.