NIDHI PRAYAS

Cohort 2023

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Accepting Applications from

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 the funding gap. This program is designed to attract many youngsters to come forward to try out their ideas and see if they will work in real-life business situations.

10 Lakhs of Grant
Lab access to building the prototype
Mentoring from founders, faculties and Industry

ABOUT THIS APPLICATION

Eligibility for Innovators for PRAYAS support NIDHI- PRAYAS Program is focused is to provide support/funding from idea to prototype to help – young and aspiring innovators. Innovators should use the PRAYAS grant, primarily to convert their ideas into prototype. The IP generated if any, should vest with the Innovator / Start up.

Priority Areas

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.

Projects related to Pure Software development, Ecommerce, Service , App based solutions, Beyond prototype level cannot be supported under NIDHI-PRAYAS. NIDHI-PRAYAS cannot, however, be used for supporting: -

Innovators / Start up who do not / will not own the Project know how/ IP
Funding research / student internship in Academic institution or R& D organisation
Innovators / Team/ Start up who is already supported once under NIDHI PRAYAS
Innovators who do not have the necessary NOC on IP, granting sufficient time to work on PRAYAS project from their respective organisation / institution
Innovator supported under NIDHI-EIR in parallel with NIDHI-PRAYAS
Innovators who do not have a roadmap / will towards commercialization

Preference may be given to the 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

ELIGIBILTY

The eligibility criteria for the applicants for PRAYAS program are as follows :

Any individual applying for PRAYAS has to be an Indian Citizen with a government-approved proof of nationality such as a valid passport, voter’s id etc. The applicant should be in the age group of minimum of 18 years, as on date of application.

1. Individual Innovator OR Team of Innovators: -

The innovator should have the knowhow of the PRAYAS project. For team of innovators there has to be -

An agreement among the team about the lead innovator who would apply, and the funds will be transferred to the lead innovator’s account (after selection)
IP generated would vest with the innovator / team and it would be further taken for commercialization

2. In case of Founders, Co -founders of Start up applying for PRAYAS:-

At the time of application, the period of existence of a start-up and its operations should not exceed 7 years from the Date of Incorporation,
Wants to develop the prototype for a new product, for which they may have not received similar kind of support.
Company should have annual turnover not exceeding Rs. 25 lakhs for any of the financial year since its inception
IP generated would vest with the start-up

3. Innovators in employment OR Students with any R& D organisation / Academic Institution:-

It is mandatory that the innovators pursuing PRAYAS should have the Project know-how and own the IP.
The innovator has to seek the NOC from their organisation/institution. The NOC should have the following
Permission to apply for PRAYAS and the innovator will be granted sufficient time to work on the PRAYAS project,
IP generated would vest with the innovator/team and it would be further taken for commercialization.

ATTACHED DOCUMENTS

Eligibility_Guideline...

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