NIDHI-PRAYAS Program as the scheme suggests 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.
Guidelines for PRAYAS support
- NIDHI-PRAYAS program will provide funding support for converting innovative ideas into prototypes.
- The eligibility criteria for the grantees are as follows
- Individual innovator: He/She is required to be Indian Citizen at least 18 years of age on 1st of August, 2016. 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.
- Existing incubatee of a PRAYAS centre:
- The company is 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.
- Company should have no significant revenue at the time of application.
- Team of individual innovator: 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. The financial support (after the selection process) will be given to the lead applicant on behalf of the team.
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 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.
- The project should involve physical product development. The projects relating to software development and those involving pure academic research are not eligible.
- 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
- 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 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.
- 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.