Having considered the fact that many research findings arising from research and experimental development projects are confined to laboratories without progressing into commercial applications and also with a view to develop an entrepreneurial culture among researchers/scientists/engineers in the research institutes and universities the grant scheme “Support for start up businesses based on novel Technologies (Start Ups)” is established. Thus, the scheme will provide an opportunity for researchers/scientists/engineers to start up businesses by establishing start-up companies or spinoffs using their university/institute-based new technologies.