Nidhi Is the National Initiative for Developing and Harnessing Innovations
An umbrella program conceptualized by the Innovation & Entrepreneurship division of the Department of Science and Technology, Government of India aimed at catapulting INNOVATIONS into START-UPS, which in turn would contribute to the building of an innovation-driven ecosystem to bring about economic development through the creation of wealth.
Under the NIDHI initiative is the PRAYAS program (PRomoting and Accelerating Young and ASpiring Technology entrepreneurs) that focuses on developing new and innovative ideas into prototypes. At least 10 (ten) young innovators would be selected this year after a rigorous selection process by a panel of experts and admitted as “PRAYASEES” as per the established criterion of the program.
Prayasees will have access to facilities like Prototyping Lab, Mentorship, Technology Guidance, Peer Networking, and other required support. This would go a long way in making these innovative ideas see the light of the day as a manifest prototype. These innovative technologies, having crossed the prototyping stage would be ready for further incubation support and commercialization.
Each selected innovative idea, and therefore the innovator (“the PRAYASEE”) shall receive a prototyping grant up to Rs.10, 00, 000/- (Rupees Ten Lakhs only) as per rules and regulations established.
Under the NIDHI initiative is the PRAYAS program (PRomoting and Accelerating Young and ASpiring Technology entrepreneurs) that focuses on developing new and innovative ideas into prototypes. At least 10 (ten) young innovators would be selected this year after a rigorous selection process by a panel of experts and admitted as “PRAYASEES” as per the established criterion of the program. Prayasees will have access to facilities like Prototyping Lab, Mentorship, Technology Guidance, Peer Networking, and other required support. This would go a long way in making these innovative ideas see the light of the day as a manifest prototype. These innovative technologies, having crossed the prototyping stage would be ready for further incubation support and commercialization.
Each selected innovative idea, and therefore the innovator (“the PRAYASEE”) shall receive a prototyping grant up to Rs.10, 00, 000/- (Rupees Ten Lakhs only) as per rules and regulations established.
Sector focus of COEP's Bhau Institute
Cyber security
EV and Smart Mobility
Eligibility Criteria
Individual innovator
- He/She is required to be Indian Citizen at least 18 years of age as on date of application.
- 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.
- 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.
Preference may be given to those innovators
- Who have bootstrapped or have got co-investment commitment.
- Who have clear road map for commercialization or start up creation.
- Women innovators
- Young innovators
Team of individual innovator
Not eligible for PRAYAS
If the team wants to pursue the project, then there has to be an agreement among the team about the lead applicant and the lead applicant have to apply for NIDHI-PRAYAS.
Student applicants pursuing long term research projects like doctoral research projects or similar projects will not be supported
The financial support (after the selection process) will be given to the lead applicant on behalf of the team.
The projects relating to software development and those involving pure academic research are not eligible.
Guidelines
- The maximum support can be provided per innovator/incubatee is upto Rs. 10 lakhs.
- If the innovator is pursuing to build a prototype from their institute/organization IP, then in that case innovator will take NOC 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.
- The innovator can avail the NIDHI-PRAYAS support only once and they should not have sought the similar support previously, from other Government of India organisation/Institution for the same innovative concept as proposed in the application form.