Diffusion Initiative

In part execution of the mandate of National Innovation Foundation of generating wealth for the grassroots innovator and practitioners of tradition knowledge the Business development section facilitate incubation of green grassroots innovation and example of traditional knowledge, in the process generating wealth for the innovator, practitioners of tradition knowledge and supply change stakeholders. It covers five sets of activities mainly positioning of grassroots innovation and example of traditional knowledge across application domains, scouting entrepreneurs, selling business opportunities, providing handholding support to new enterprise when it is most susceptible to various market risk and facilitation diffusion of socially relevant technologies.

Business Development division at NIF primarily undertakes the following activities:

• Identify application domains and conduct market research to ascertain techno-commercial feasibility of innovations
• Coordinate with various entrepreneur/industry associations, management institutions, civil societies, non-governmental organization and incubators to scout entrepreneurs and mentors, to mobilize management support and explore investment opportunities for setting up enterprise, wherever possible.
• Encourage various industry associations and other developmental bodies to set up mechanisms for licensing innovations for business development and equitable benefit sharing with the innovators and traditional knowledge holders.
• Help raise resources for pursuing various activities for innovation value chain.
• Provide financial assistance to innovators, traditional knowledge holders and other players in the supply chain for all activities related to technical and business incubation.
• Help promote and diffuse innovations and outstanding traditional knowledge practices through market and non-market channels.
• Ensure delivery of incubations services i.e. technical, commercial and handholding support at innovators' doorstep