Nexus Start-Up Hub 2.0

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Funding Opportunity ID: 326954
Opportunity Number: ND-NOFO-20-113
Opportunity Title: Nexus Start-Up Hub 2.0
Opportunity Category: Discretionary
Opportunity Category Explanation:
Funding Instrument Type: Cooperative Agreement
Category of Funding Activity: Business and Commerce
Education
Category Explanation:
CFDA Number(s): 19.040
Eligible Applicants: Public and State controlled institutions of higher education
Nonprofits having a 501(c)(3) status with the IRS, other than institutions of higher education
Private institutions of higher education
Additional Information on Eligibility:
Agency Code: DOS-IND
Agency Name: Department of State
U.S. Mission to India
Posted Date: May 11, 2020
Close Date: Jul 31, 2020
Last Updated Date: May 11, 2020
Award Ceiling: $1,000,000
Award Floor: $500,000
Estimated Total Program Funding: $1,000,000
Expected Number of Awards: 1
Description: Background:There is a strong desire across business sectors in India to study and adapt the skills and values of the American entrepreneurial ecosystem. With the goal of building cultural and economic bridges between individuals and companies in the start-up space, Nexus Start-up Hub at the American Center New Delhi opened in Spring 2017. Nexus quickly established itself as a leader in sharing American best practices with Indian entrepreneurs – male and female – from across India. The Public Affairs Section in New Delhi plans to continue providing this expertise, preparing these future business leaders to engage with Indo-Pacific investors and business partners, especially those from the United States, while also broadening the scope of Nexus to reach a larger, more diverse audience.Nexus annually recruits and trains three cohorts of 10 to 15 start-up companies per 10-week residential session. To date, the Nexus Start-up Hub at the American Center New Delhi has produced 97 companies or “graduates” in its alumni network. Nexus graduates have raised more than $6 million in funding. In addition to creating more than 1,000 new jobs, Nexus graduates have generated more than $4.7 million in revenue. They have also concluded 28 deals with U.S. companies. In 2019, Nexus led short, 2.5-day entrepreneurship training workshops in four other cities across India. Also in 2019, Nexus conducted a targeted 2-day entrepreneurship workshop in Hyderabad for startups working in the defense/military sector, in conjunction with a business/government leaders’ conference highlighting U.S.-India cooperation in the defense sector.India currently hosts more than 400 incubators across the country. Indian entrepreneurs are hungry for the guidance, strategic support, and skill-building that incubators may offer. As a result of some initial engagement with incubator managers in 2019, we have observed greater interest and opportunity to engage more broadly with incubator managers across India. There is great scope to engage with this community by providing knowledge and training in state-of-the-art American incubator management and utilizing this platform to extend the reach of American entrepreneurship expertise.Proposed Project: To implement a full-time, India-wide residential incubator hub at the American Center New Delhi; organize regional entrepreneurship workshops across India in critical economic sectors such as health/pharmaceuticals/biotechnology, defense/military, agriculture, and higher education; and develop a series of training seminars for incubator managers across India. This project has a target start date of January 1, 2021.(Please refer to the full announcement available under 'related documents tab')
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