The NIDHI-PRAYAS program focuses on addressing the idea to prototype funding gap. This program would attract a large number of youngsters to come forward to try out their ideas without actually worrying about the failure. Eventually, such an approach would bring in a large number of potential ideas into the incubation programs, thereby increasing the flow of quality incubatee to the incubators. NIDHI-PRAYAS is positioned as a preincubation initiative. DST aims to promote upto 10 PRAYAS Centers in TBIs every year for next few years.
Objectives of NIDHI-PRAYAS
- 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 indigenously generate innovative solutions relevant to the local and global problems.
- To attract a large number of youths who demonstrates problem solving zeal and abilities to work on their new technology/knowledge/innovation-based startups.
- 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.
Proposed model of a PRAYAS Centre
The NIDHI-PRAYAS grant would be handled by the PRAYAS CENTRE (PC). The PC would be a place where innovative ideas are supported through physical infrastructure, technical guidance, business mentorship and a prototype grant for converting the idea into a prototype. A furnished and well-equipped space of about 3000 sq.ft. (which includes the fab lab and common working space for innovators) will be set up at the host incubator. The innovators would approach one of the PC for seeking support under the programme. Each PC would seek applications from innovators in a common template. The PC would setup a transparent screening mechanism for selecting the innovators based on the potential of the idea/innovation. The selected innovators would get access to the infrastructure, prototype grant and mentorship. The selection of PC would be made as detailed out in subsequent sections.
The outcome of the PRAYAS program will be analyzed based on any of the following parameters:
- 60% of the innovators should have the working prototype within 18 months.
- Progress towards IP filing, commercialization in form of licensing or start-up
- Funding/Investment received 4) Expression of interest from manufacturers
List of the NIDHI-PRAYAS Centres: https://www.nidhi-prayas.org/prayascenters.html
Detailed Document of NIDHI-PRAYAS programme: https://www.nidhi-prayas.org/letters/NIDHI-PRAYAS%20scheme%20_DST_Ver%204_Jan21.pdf
For more info: https://www.nidhi-prayas.org/