NIDHI-PRomotion and Acceleration of Young and Aspiring innovators and startups (NIDHI-PRAYAS) - Support from Idea to Prototype
a-IDEA established NIDHI-PRAYAS PRAYAS CENTRE (PC) in the year 2020. The a-IDEA would be a place where innovative ideas are supported through physical infrastructure, technical guidance, business mentorship, and a prototype grant (the maximum funding support for an innovator or startup will be up to 10 lakhs) for converting the idea into a prototype. The priority technology areas are manufacturing, agriculture, healthcare, clean-tech, energy, water, and the Internet of Things (IoT). Other technology areas may also be considered based on the strength or merit of the idea.
Background
National Initiative for Developing and Harnessing Innovations (NIDHI) is an umbrella programme conceived and developed by the Innovation & Entrepreneurship division, Department of Science & Technology, Government of India, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups. The programme would work in line with the national priorities and goals and its focus would be to build an innovation driven entrepreneurial ecosystem with an objective of socioeconomic development through wealth and job creation. NIDHI aims to nurture start-ups through scouting, supporting and scaling of innovations. The key stakeholders of NIDHI include various departments and ministries of the central government, state governments, academic and R & D institutions, mentors, financial institutions, angel investors, venture capitalists and private sectors. NIDHI is developed keeping in line the new national aspirations and on the basis of DST’s experience of three decades, in promoting innovative start-ups.
NIDHI aims to nurture start-ups through scouting, supporting and scaling of innovations. The key stakeholders of NIDHI include various departments and ministries of the central government, state governments, academic and R & D institutions, mentors, financial institutions, angel investors, venture capitalists and private sectors. NIDHI is developed keeping in line the new national aspirations and on the basis of DST’s experience of three decades, in promoting innovative start-ups.
DST-NIDHI’s PRomoting and Accelerating Young and ASpiring technology entrepreneurs (PRAYAS) is specifically to support young innovators turn their ideas into PoC. This support shall allow the innovators to try their ideas without fear of failure, hence allowing them to reach a stage where they have a ready product and are willing to approach incubators for commercialization. The NIDHI-PRAYAS program focuses on addressing the idea to prototype funding gap. The emphasis is to foster indigenously developed innovations and product in alignment with the nation's "AtmaNirbharBharat Mission".
Objectives of NIDHI-PRAYAS
· To enable translation of an innovative idea to a prototype.
· To provide a platform for faster experimentation and modify approaches in the idea to market journey.
· To indigenously generate innovative solutions relevant to the local and global problems.
· To attract a large number of youths who demonstrates problem solving zeal and abilities 3 to work on their new technology/knowledge/innovation-based startups.
· To enhance the pipeline in terms of quality and quantity of innovative startups to the incubators.
· To build a vibrant innovation ecosystem, by establishing a network between innovators, academia, mentors and incubators.
Eligibility Criteria for the Program
· An individual innovator without having a startup or founder of a startup can apply for Prayas grant.
· In case of an applicant being an individual innovator without having a startup applying for PRAYAS:
The applicant has to be an Indian Citizen with a government approved proof of nationality such as a valid passport, voter’s id etc.
The applicant should be minimum of 18 years of age, as on the date of application.
If the applicant works in a team with other innovators there has to be an agreement among the team about the lead innovator who would apply, and the funds will be transferred to the lead innovator’s account (after selection). IP generated would vest with the innovator or with the team as per the agreement and it would be further taken for commercialization.
● In case of an applicant being a co-founder of a Startup applying for PRAYAS:
The applicant has to be an Indian citizen with a government approved proof of nationality such as a valid passport, voter’s id etc.
The applicant should be minimum of 18 years of age, as on the date of application.
The startup should be incorporated in India with a minimum 51% of its equity held by Indian citizens. The startup should not be more than 7 years of existence.
The startup wants to develop the prototype for a new product, for which they have not received support from any other funding agency.
The startup should not have annual turnover exceeding Rs. 25 lakhs for any of the financial years since its inception.
IP generated would vest with the start up.
● PRAYAS grant is Proof-of-concept grant for converting idea and innovations into a prototype. Proposals for the products having crossed the prototype level are not eligible for support under NIDHI-PRAYAS.
● The ideas and innovations should be based on technology and science.
● The product prototype has to be a physical product
● Applicants can be individual innovators or early-stage startups.
● Applicants will have ownership of the Project knowhow or IP of the proposed products or right to use knowhow or IP if it is owned by a third party.
● Prototype must be capable of being completed within 18 months.
● Innovators should have technical skills or background.
● Idea or Innovations should have a roadmap towards commercialization.
● The priority technology areas are manufacturing, agriculture, healthcare, clean-tech, energy, water and Internet of Things (IoT). Other technology areas may also be considered on strength or merit of the idea.
● Preference may be given to the innovators
having bootstrapped or have co-investment commitments.
having clear roadmap for commercialization or start up creation
Women innovators
Young innovators
Contact Information
Mr.G.Narender Reddy
Project Manager
a-IDEA, ICAR-NAARM, Rajendra Nagar, Hyderabad – 500 030
Telephone: (+91) 040- 24581464
E-mail Address: nidhimgr.aidea@naarm.in