NIDHI PRAYAS

NIDHI- PRAYAS Program as the scheme suggest is to help – young and aspiring innovators. The focus is to provide support/funding from idea to prototype.
This grant, therefore, will primarily be utilised by the innovators to convert their ideas into prototype. It cannot, however, be used for supporting:-

• Any institute/organization(not being a start up company) to develop an IP into prototype.
• Any innovators working/pertaining to an institute/organization for converting their IP into prototype.
• Any idea which is part of academic research work carried out at the institute/personal level.
• Any idea that is developed into prototype where the IP could vest with any institute/organization.

Startup less than 2 years and wants to develop the prototype for a new product, for which they may have not received similar kind of support.

Not eligible for PRAYAS:
A. Student applicants pursuing long term research projects like doctoral research projects or similar projects will not be supported
B. Professors or Academicians engaged in teaching with any academic or R&D institute.

Eligibility criteria

1. The project should involve physical product development. The projects relating to software development and those involving pure academic research are not eligible.
2. The priority areas for supporting innovations under NIDHI PRAYAS program are manufacturing, agriculture, healthcare, clean-tech, energy, water and Internet of Things (IoT) and other technology areas.
3. Preference may be given to those innovators
   A. Who have bootstrapped or have got co-investment commitment.
   B. Who have clear road map for commercialization or startup creation.
   C. Women innovators
   D. Young innovators
4. 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.
5. If the applicant is studying /working in an institute/organization, they should get a no objection certificate from that respective institute/organization for applying to NIDHI PRAYAS.
6. The NIDHI-PRAYAS grantee should be registered for the pre-incubation or incubation program at the TBI for the entire duration of the program, after going through the TBI’s selection process.
7. 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.

• Preference shall be given for
  1. Technology business ideas with larger technology uncertainties and/ or long gestation periods,
  2. Technology business ideas leveraging technology or IP from publicly funded research or academic organizations,
  3. Technology business ideas with considerable potential for social impact.
• Entrepreneurs pursuing business ideas with no or marginal technology innovation or those with very short journey (i.e less than 6 months) to commercialization are discouraged to apply.

• Formal business plan for the idea they intend to pursue
• Business presentation including the investment proposal
• Proof of citizenship (Aadhaar)
• Passport size photo
• SC/ST Certificate (if applicable)

• After the receipt of proposals, Programme Executing Partner – TBI will check the eligibility of each applicant.
• Applicants who are eligible will then be scrutinised by the expert committee at each Programme Executing Partner – TBI based on certain qualifying criteria’s to select the final recipients of NIDHI-EIR support.