Product Development Grant upto
INR 10 Lakhs
Enabling translation of an innovative idea to a prototype.
About NIDHI - PRAYAS Program
The NIDHI-Promotion and Acceleration of Young and Aspiring technology entrepreneurs (NIDHI-PRAYAS) program is one of the programs introduced under NIDHI Scheme by DST, GoI that focuses on addressing the idea to prototype funding gap. This is a program 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.
AI/ML & AR/VR
Declaring the Shortlisted Candidates.
Frequently Asked Questions
What is NIDHI PRAYAS Program?
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.
Who is Eligible?
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.
- The project should involve physical product development. The projects relating to software development and those involving pure academic research are not eligible.
- 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.
- 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
- 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.
- 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.
- 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.
- 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.
What are the broad parameters for selection of technology?
- Preference shall be given for
- 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 organizations,
- 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.
What are the documents required to be submitted at the time of application?
- 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)
What is the process of selection?
- 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.