NIDHI Entrepreneur-in-Residence Programme (NIDHI EIR)

An initiative to inspire the best talents to be entrepreneurs, minimise the risk involved in pursuing start-ups, and to partially set off their opportunity costs of high-paying jobs by offering grant allowance to full-time entrepreneurs/innovators.

The NIDHI-EIR programme is specially designed for entrepreneurs and innovators who are either trying to or wish to pursue their entrepreneurial journey full-time. The programme would provide grant allowance up to INR 30,000 per month to aspiring or budding entrepreneurs of considerable potential for pursuing promising technology business ideas. These NIDHI-EIR Grantees will be incubated at VentureStudio where they will get full support in terms of product development, go-to-market, and mentor and expert-connect. The support will provide tremendous opportunities for innovative entrepreneurs to expand their networks and get critical feedback on their ventures in order to promote their entrepreneurial career goals and aspirations.

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Offerings

• Grant Allowance: Grant up to INR 30, 000 per month for up to 1 year to pursue promising technology business ideas.
• Business Mentoring: One-on-one business as well as commercialisation advisory and support.
• Networking: Access to the VentureStudio network of experts, partners, early adopters and more, comprising a strong community of over 140 startups and entrepreneurs.
• Facilities: Access to VentureStudio and Ahmedabad University’s labs and resources, including coworking spaces, the bio lab, and the fabrication shop.

Focus Areas

Technology-based product/services proposals in various sectors such as Agriculture, Healthcare, Manufacturing, Engineering, IoT, BioTechnology, Medical Devices, Water, Waste Management, Energy, Climate Tech, etc.

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Eligibility

The eligibility criteria for the NIDHI-EIR Grantees are as follows:

• The applicant should be a citizen of India. An Indian citizen is defined as one who is in possession of a government-approved proof of nationality such as a valid passport, voter’s id etc.
• The applicant should have completed a minimum 4 years of formal full-time undergraduate/postgraduate education towards one or more degree programmes, with the basic degree or diploma being in science or engineering. Alternatively, the applicant should have completed a 3-year degree or diploma programme and have a 2-year full-time work experience post degree or diploma, with the basic degree or diploma being in science or engineering.
• The applicant is expected to be committed to exploring a business idea. A typical NIDHI-EIR needing this support is a first-generation innovative entrepreneur who has no prior source of income. The NIDHI-EIR Grantee should not treat this support as a stop-gap arrangement to support them in their academic pursuits or transition between jobs.
• The applicant should demonstrate their ability to build a scalable technology business startup. Their background needs to be provided in a prescribed format.
• The applicant should propose 1 technology business idea in a prescribed format.
• The Grantees are expected to pursue their entrepreneurial aspirations full time. NIDHI-EIR cannot be concurrent with any other remuneration or fellowship.
• The Grantee cannot be the promoter or significant (>10%) shareholder/beneficiary of another company at the time of applying for and receiving the grant approval.
• The NIDHI-EIR should be registered for the pre-incubation or incubation programme at the TBI for the entire duration of the NIDHI-EIR support.
• Preference shall be given to
  • technology business ideas with larger technology uncertainties and/ or long gestation periods,
  • technology business ideas leveraging technology or IP from publicly funded research or academic organisations, and
  • technology business ideas with considerable potential for social impact.
• Entrepreneurs pursuing business ideas with no or marginal technology innovation or those with a very short journey (i.e. less than 6 months) to commercialisation are discouraged to apply.
• The applicant should have a formal business plan for the idea they intend to pursue and a business presentation including the investment proposal.

NOT ELIGIBLE FOR NIDHI-EIR

• NIDHI-EIR will not be granted to part-time founders and students.
• The programme encourages enterprising individuals to venture out and pursue daring entrepreneurial ideas as well as enhances the quantity and quality of startups.