NIDHI EIR

Cohort 1_May 2023

Apply Apply Application Closed

Accepting Applications from

NIDHI EIR

ABOUT THIS APPLICATION

About NIDHI EIR Program

Entrepreneurs-in- Residence (EIR) Programme is one of the programs introduced under National Initiative for Developing and Harnessing Innovations (NIDHI) to inspire the best talents to be entrepreneurs, to minimise the risk involved in pursuing start- ups, and to partially set off their opportunity costs of high paying jobs. The NIDHI-EIR programme provides tremendous opportunities for innovative entrepreneurs to expand their networks and get critical feedback on their ventures in order to promote their entrepreneurial career goals and aspirations. The program has been introduced by Department of Science and Technology (DST), Govt. of India.

Selected candidates will receive grant of upto Rs.3,60,000 as monthly fellowship spread across 12 months ranging from Rs. 10,000 per month to Rs. 30,000.

Program Objectives:

· To encourage graduating student to take to entrepreneurship by providing support as a fellowship.

· To provide a prestigious forum for deserving and budding entrepreneurs to pursue their ventures without any additional risks involved in technology based businesses.

· To make pursuing entrepreneurship related to a technology business idea more attractive among options available career options.

ELIGIBILTY

Eligibility Criteria:

· Following are the requirements for EIR applicants/candidates-

· The EIR applicant should be citizen of India. 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.

· The EIR applicant should have completed:

Minimum 4 years of formal full time undergraduate/post graduate education towards one or more degree programme. Basic degree or diploma should be in science or engineering.

3 years’ degree or diploma program and have 2-year full time work experience post degree or diploma. Basic degree or diploma should be in science or engineering.

· The EIR is expected to be committed to exploring a business idea. Typical NIDHI-EIR needing the support is a first generation innovative entrepreneur, who has no parallel source of income. NIDHI-EIR support recipient should not treat this support as a stop gap arrangement to support them in their academic pursuits or transition between jobs.

· NIDHI-EIR seeking the support should demonstrate his ability to build a scalable technology business startup. The background of the NIDHI-EIR needs to be provided in a prescribed format.

· The NIDHI-EIR support recipient should propose one technology business idea in a prescribed format.

· NIDHI-EIR support recipient are expected to pursue their entrepreneurial aspirations full time. NIDHI-EIR cannot be concurrent with any other remuneration or fellowship.

· NIDHI-EIR support recipient cannot be the promoter or significant (>10%) share holder / beneficiary of another company at the time of applying for and receiving the grant approval

· The NIDHI-EIR should be registered for the pre-incubation or incubation program at the PIEDS for the entire duration of NIDHI-EIR support.

· Preference shall be given for a) technology business ideas with larger technology uncertainties and/ or long gestation periods, b) technology business ideas leveraging technology or IP from publicly funded research or academic organizations, c) technology business ideas with considerable potential for social impact.

· Entrepreneurs pursuing business ideas with no or marginal technology innovation or those with very short journey (i.e. less than 6 months) to commercialization are discouraged to apply.

· NIDHI-EIR seeking support should have a formal business plan for the idea they intend to pursue and a business presentation including the investment proposal.

By clicking on Apply, you are allowing the incubator to access your name, company name and email address

Apply Apply Application Closed