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Innovations

NIDHI-Promoting and Accelerating Young and Aspiring innovators & startups (NIDHI- PRAYAS)

a) STEPs/TBIs promoted by Government of India are eligible to apply b) The proposal to be submitted by a STEP / TBI and other institutions with a proven track record in promotion of technology based entrepreneurship. The STEP / TBI is supposed to have adequate expertise and infrastructure to support innovation scouting, screening, selection for funding support and monitoring of progress of development. c) The financial support for establishing a PC would be extended to a STEP/TBI, a not-for- profit legal entity registered as a society/trust/section 8/25 company. PMC encourages a PC to collaborate with an industry, an academic institution and with other institutions of repute focusing on innovation, research, testing, validation, quality control, commercialization mentorship and start-up promotion. PMC at present does not support for-profit incubators. d) The STEP / TBI should have been in existence for at least 3 years. This limit of time period will not apply to entities created by the central government or state governments. e) A pure R&D proposal for academic pursuits and industrial consultancy will not be eligible for support.

Funding Agency: Department of Science & Technology (DST), Govt of India

Area(s): Physical Sciences, Chemical Sciences, Life Sciences & Biotechnology, Earth, Atmosphere & Environment Sciences, Engineering Sciences, Mathematical Sciences, Traditional Knowledge, Agricultural Sciences, Medical Sciences, Astronomy & Space Sciences, Computer Sciences and Information Technology, Other Areas

Financial Incentives: The host TBI would provide the furnished space for the PC. The quantum of prototype grant per innovator would be a maximum of Rs 10.00 lakhs and each centre would get 10 innovators per year. Thus a support of Rs. 1.00 crore per year for five years shall be provided as prototyping grant to each PC. In addition to this, Rs. 1.00 Cr grant as one time support under capital for setting up a Fab Lab shall be provided to the PC in the first year of establishment of PC. For annual operations, management of Fab Lab including a dedicated team, technical experts etc, furnishing costs, I.P databases, consumables, utilities and administrative costs for management of PRAYAS program by PC, an amount of Rs. 20.00 lakhs per year for five years shall be provided to PC. Thus DST would invest Rs. 7 .00 Cr per PC in 5 years time frame which includes Rs. 2.2 Cr in the first yr and Rs. 1.2 Cr/yr from 2nd to 5th yr.

Time Period: Not Available

Institution(s) involved: Department of Science & Technology (DST), Govt. of India

Overview: NIDHI-PRAYAS program has been launched as a pre-incubation initiative to provide support from the Idea stage to Prototype stage. Under NIDHI PRAYAS, 10 PRAYAS Centres have been setup at various TBIs along with support for establishing PRAYAS Shala and Proof of Concept Grant support for innovators/ entrepreneurs as Prayasee.The aim is to inspire the best talents to be entrepreneurs, minimise the risk involved in pursuing start-ups and to partially set off their opportunity costs of-high paying jobs.

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