Government sets up Rs10 crore rolling fund to support young designers

24 September 2008

Mumbai: The government has set up a rolling fund - the National Design Business Incubator (NDBI) - to support young designers aspiring to become entrepreneurs in the field of design, union minister for commerce and industry Kamal Nath said.

The rolling fund is an initiative of the National Institute of Design (NID), he said in a press release. 

''Needy young designers desirous of pursuing their business ideas through incubation route at NDBI can now avail this rolling fund support'', he said.

The incubator (NDBI) aims to kindle the spirit of innovation ingrained in the creative culture of designers, paving the path for creation of a new breed of designpreneurs, he said, adding, the government has agreed to permit the NID faculty to have a share in their consultancy work.

The pattern of consultancy sharing would be on the lines of other premier educational institutions in India such as IITs and IIMs, he said.

NDBI, set up by NID in 2005, aims at building on India's design strengths and make ''made in India, designed for the world'' a reality.