To date 18 of our startups have been approved under the NIDHI Prayas scheme. National Initiative for Developing and Harnessing Innovations (NIDHI) is an umbrella programme conceived and developed by the Innovation and Entrepreneurship division, Department of Science & Technology, Government of India, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful Startups.
The NIDHI-Promotion and Acceleration of Young and Aspiring technology entrepreneurs (NIDHI-PRAYAS) programme, one of the programmes introduced under NIDHI, focuses on addressing the idea to prototype funding gap. This is a programme designed to attract a large number of youngsters to come forward to try out their ideas and try to see if they will work in real life business situations. If selected, such selected applicants are referred to as PRAYASEE’s.
We invite applications in areas such as Life Sciences / Bio-Tech / Healthcare/Defence/ Clean-Tech / Environment/ Energy/ Water/ Consumer products/ IOT and any other innovative solutions addressing unmet market needs.
OBJECTIVES OF NIDHI-PRAYAS PROGRAMME
For detailed eligibility & conditions: Click here.
NIDHI – PRAYAS Program as the scheme suggests is to help – young and aspiring innovators. The focus is to provide support/funding from idea to prototype. This grant, therefore, will primarily be utilized by the innovators to convert their ideas into prototype. It cannot, however, be used for supporting:
GUIDELINES FOR PRAYAS SUPPORT
3. The priority areas for supporting innovations under NIDHI PRAYAS programme are manufacturing, agriculture, healthcare, clean-tech, energy, water and Internet of Things (IOT) and other technology areas.
4. The project should involve physical product development. The projects relating to software development and those involving pure academic research are not eligible.
5. Pr eference may be given to those innovators
6. The maximum support can be provided per innovator/incubatee is up to Rs. 10 lakhs.
7. If the innovator is pursuing to build a prototype from their institute/organization IP, then in that case innovator will take no objection certificate from the appropriate authority of their institute/organisation for use/IP transfer / ownership in favour of the innovator/Startup.
8. If the applicant is studying /working in an institute/organisation, they should get a no objection certificate from that respective institute/organization for applying to NIDHI PRAYAS.
9. The NIDHI-PRAYAS grantee should be registered for the pre-incubation or incubation programme at the TBI for the entire duration of the programme, after going through the TBI’s selection process.
10. NIDHI-PRAYAS grantee should be fully committed to work towards the prototype development for which the support is being sought and should not treat this as a stop gap arrangement to support any other pursuits.
11. The innovator can avail the NIDHI-PRAYAS support only once and they should not have sought the similar support previously, from other Government of India organisation/Institution for the same innovative concept as proposed in the application form.
NOT ELIGIBLE FOR PRAYAS
BENEFITS TO NIDHI-PRAYAS RECIPIENTS (PRAYASEE)
TERMS OF ASSOCIATION & DESIRED OUTCOMES
GUIDELINES FOR USE OF FUNDS BY THE PRAYASEE
IT WILL NOT BE USED
The support/funds should be mainly for prototype development work/proof of concept.
VentureStudio, invites applications for prototype level projects under the NIDHI-PRAYAS scheme of the Department of Science and Technology, Government of India. This grant will primarily be utilised by aspiring innovators to convert their ideas into prototype. The period of prototyping support can be up to 18 months.
Please email the duly filled application form to email@example.com