National Initiative for Developing and Harnessing Innovations (NIDHI) is an umbrella programme conceived and developed by the Department of Science & Technology (DST), Government of India, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful start-ups.
Under this initiative, DST has launched NIDHI- Promoting and Accelerating Young and Aspiring innovators & start-ups (NIDHI-PRAYAS) program. The program caters to idea-stage entrepreneurs with a physical product offering, who require support for prototyping. It would also facilitate the innovators with the Physical infrastructure, Technical Guidance, Business Mentorship etc.
OBJECTIVES OF NIDHI-PRAYAS PROGRAMME
- 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 generate innovative solutions relevant to the local and global problems.
- To attract a large number of youth who demonstrates problem solving zeal and abilities to work on their new technology / knowledge / innovation based start-ups.
- To enhance the pipeline in terms of quality and quantity of innovative start-ups to the incubators.
- To build a vibrant innovation ecosystem, by establishing a network between innovators, academia, mentors and incubators.
- For detailed eligibility & conditions: Click here.
TERMS AND CONDITIONS
- PRAYAS support is in form of the grant which will be maximum upto Rs.10 lakhs.
- PRAYAS applications will be subject to Decision of the committee members of the PC where innovator has applied. The decision of approval or rejection or reduced amount by the committee shall remain final and binding on the innovator.
- The applicant will be fully committed to work towards the prototype development for which the support is being sought with an intention to commercialization.
- The project duration is 18 months. Prototype has to be completed within maximum 18 months from receiving the first tranche of the grant.
- For incomplete projects, PRAYASEE must return unutilized amount of the grant.
- If innovator has already started a venture, Innovators should assign the IP ownership right to the startups.
- Innovators or Start-up teams cannot avail NIDHI-PRAYAS Support for more than once nor from more than one centre. Innovators shall also not be supported in parallel under NIDHI-EIR and NIDHI-PRAYAS. Innovators will give declaration at the time of making application indicating that they have not received support under NIDHI-PRAYAS for the same idea or NIDHI-EIR.