What you get
- Financial support of up to ₹50,000/-. | - A maximum of 10 projects will be supported through this scheme each financial year. | - The financial assistance shall be permitted to be utilized only for student academic projects. | - The funds should be used only for the purpose for which they are released. | Disbursement | - The financial assistance shall be disbursed as a single installment. | - The amount shall be deposited directly in the beneficiary institute’s bank account. | - Disbursement occurs upon submission of the pre-receipt for the said amount by the institution, to the Director, Department of Science and Technology and Waste Management (DS&T&WM). | Conditions | - The entire amount of the financial assistance approved and released should be utilized before March 31st in the subsequent financial year. | - Copies of bills/invoices generated after purchasing materials and tools for building the project must be maintained and submitted to the Goa State Innovation Council (GSInC).
Who can apply
Required Paperwork
- Aadhaar Card
- PAN Card
- Income Certificate
- Residence Proof (Domicile)
Common Questions
How often is the total financial grant provided, and is it received as a lump sum amount or in multiple phases?
The financial assistance approved under this scheme shall be disbursed to the concerned institute as a single installment.
If my current proposal is successful and I receive funding, will I be allowed to apply for or receive support under this program again in the future?
No, an applicant or group of students is only eligible for this specific financial support once throughout the scheme's duration.
What specific criteria must a High School or Higher Secondary School student meet concerning their project participation to be considered eligible for funding?
The High School or Higher Secondary School student must be working on a school project that is currently participating in either State level or National level competitions.
What is the maximum possible amount of financial support that a successful individual applicant or a group of applicants can expect to receive for their prototype development?
Applicants are eligible to receive financial assistance covering the cost of their project up to a maximum amount of ₹50,000/-.
Are there any limitations placed on the utilization of the sanctioned funds, or can they be used for any general educational expense?
The financial assistance released must be utilized strictly and exclusively for the purpose of the student academic projects.
How many innovative student projects are ultimately selected and provided with financial assistance under the provisions of the scheme annually?
A maximum of 10 student projects in total will receive financial support through this scheme each financial year, subject to budget provision.
Does the student applicant need to be enrolled in an educational institution that is specifically located within the physical boundaries of the State of Goa?
Yes, the scheme requires that all students applying for the financial assistance must be currently attending an Educational Institute located within the State of Goa.
When submitting a proposal for financial assistance, must the innovative project necessarily involve the development of either hardware or software?
The project must clearly demonstrate that it is a Product or Process Innovation based on either a hardware or a software component.
Before submitting my application for this assistance, is there a mandatory external registration process that I need to complete beforehand?
Yes, it is mandatory that the applicant must first be registered under the Virtual Innovation Register (VIR) as a New Idea to claim benefits under the scheme.
If the innovative idea I am proposing is linked to either the Industry or the Government, is there an additional formal document required upon application?
Yes, you are required to submit a Letter of Intent (LOI) if the proposed innovative idea or project is associated with the Industry or the Government.
Does this opportunity extend to all enrolled college students, or is eligibility restricted only to those currently in their final year of study?
The applicant must be either a final year student or a group of students collaboratively working on a specific college project.
Are there any preferred thematic areas or specific focus sectors in which the innovative project proposals are especially encouraged for submission?
Proposals are preferably encouraged in focus sectors such as Green technology, Clean energy, Waste to Wealth, Affordable Healthcare, and Information Technology Enabled Services (ITES).
Is it a mandatory requirement that the final product or solution stemming from the innovative idea must be associated with specific sectors?
Yes, the proposed innovative idea or project in the form of a product or solution must be associated either with Academics, Industry, or the Government.
Where exactly will the approved financial assistance amount be deposited once the selection and approval process has been completed?
The sanctioned amount of financial assistance will be deposited directly into the bank account of the beneficiary institute where the student is studying.