IIPHG NIDHI TBI FOR PUBLIC HEALTH AND CSR ACTIVITIES
Eligibility of IIPHG NIDHI TBI For Public Health to Receive CSR Funds
Schedule VII, item (ix) of the Companies Act, 2013 as amended from time to time, makes Technology Business Incubators (TBIs) eligible to receive CSR contribution. Please refer notifications of Ministry of Corporate Affairs, dated February 28, 2014 and October 11, 2019.
IIPHG NIDHI TBI for Public Health is a not-for-profit TBI registered as a society under the Societies Registration Act, 1860 as applicable to state of Gujarat. It is catalyzed and supported by NSTEDB Division, Department of Science and Technology (DST), Government of India; and hosted at Indian Institute of Public Health, Gandhinagar, Gujarat. The TBI is also registered under section 12AA and granted approval under section 80G (5)(vi) of the Income Tax Act, 1961.
Utilization of CSR Funds
Some of the indicative areas where companies can contribute under their CSR initiatives are as follows:
- Funding support for startups for prototype/product development, market development and scaling up.
- Programs and events like pre-incubation and incubation bootcamps, accelerator program, lecture series, workshops, training program etc. for innovators and startup entrepreneurs.
- Capacity building and capital expenditure such as refurbishing laboratories and workspace, office infrastructure etc.
- Contribution to corpus for supporting long-term activities of the TBI.
- Fellowship for startups entrepreneurs.
- Broadly, all the activities that support and promote innovation, incubation and entrepreneurship.
Benefits for CSR Contributors
- Compliance of CSR provisions of the Companies Act, 2013 by CSR contributor.
- IIPHG NIDHI TBI shall mention the CSR contributors on its website, during various activities and in all its communication.
- Rights of co-branding and naming programs.
IIPHG NIDHI TBI shall provide half-yearly reports on following aspects to help the corporate comply with its annual reporting requirements under CSR regulation.
- Activities undertaken
- Utilization of funds/financial report against planned budget/expenditure
- Impact of activities undertaken against pre-decided impact metrics
Contact Person at IIPHG NIDHI TBI
Mr. Mayank Patel
CEO, NIDHI TBI