NIDHI PRAYAS
National Initiative for Developing and Harnessing Innovation
Promotion and Acceleration of Young and Aspiring Technology Entrepreneur
NIDHI- PRAYAS Program aims at providing prototype funding to convert idea into prototype to young and aspiring innovators.
Objectives
- To attract a large number of youth who demonstrates problem solving zeal and abilities
- To work on their new technology/knowledge/innovation based startups
- To build a vibrant innovation ecosystem, by establishing a network between innovators, academia, mentors and incubators
- To enable translation of an innovative idea to a prototype
- To support faster experimentation and the idea to market journey
- To generate innovative solutions relevant to the local and global problems
Nidhi Prayasees Can Avail The Following Benefits
Prototype Grant
Design Innovation lab
Infrastructural Support
Facilities of the Host Institute
Business Facilitation
Mentorship
Read Scheme Document before applying.
FAQs
Is there any technology preference under NIDHI-PRAYAS?
The priority areas for supporting innovations under NIDHI PRAYAS program are manufacturing, agriculture, healthcare, clean-tech, energy, water and Internet of Things (IOT). However, ideas under other technology areas may be considered on merit basis.
Can I apply for a software product?
NIDHI-PRAYAS scheme is for converting an idea into prototype for physical product. Projects related to pure Software development, Ecommerce, Service, App based solutions will not be supported under NIDHI-Prayas. However, software as one of the components of hardware product (for ex. an IoT product) can be considered for project funding for an integrated hardware prototype development.
I have prototype ready for a hardware product. Can I apply for NIDHI-PRAYAS for product completion support?
NIDHI-PRAYAS is a Proof-of-Concept grant. Products that have passed prototype level cannot be supported under NIDHI-PRAYAS.
What is the eligibility criteria for innovators to apply under NIDHI-PRAYAS?
Please see this link https://iiitdic.in/wp-content/uploads/2021/12/Eligibility-Broad-Terms-for-Innovators-for-website.pdf to know about the eligibility criteria for innovators or startups.
What is the quantum of funding support given to innovators/start-up?
The maximum funding support provided is upto Rs.10 lakhs. However, the local PRAYAS centre Monitoring Committee decides the funding amount for their selected innovators.
Can I take my salary from the PRAYAS grant? Is there any guideline for the use of funds received under PRAYAS?
No, the innovators cannot take any salary from the PRAYAS grant. The grant fund can be used only for below purposes:
Outsourcing Charges for R & D, Design Engg., Consultancy, Testing, Expert cost
Raw material, Consumables, Spares Fabrication , Synthesis charges of working model or process Business Travel and Event participation Fees (Ceiling 10% of approved project cost)
Patent filing Cost – (PCT- Ceiling 10% of approved project cost)
Contingency - (Ceiling 10% of approved project cost)
The PRAYAS grant CAN NOT be used for:
To pay the grantee or their relatives.
To repay pre-existing loans or commitments of the innovator.
To pay usage charges to the Incubator from the PRAYAS grant.
Grantee can use other funds to pay any such charges, if any.
To pay rent of own accommodation, creation of infrastructure facility like shed etc.
As a stop gap arrangement to support any other professional pursuits.
Outsourcing Charges for R & D, Design Engg., Consultancy, Testing, Expert cost
Raw material, Consumables, Spares Fabrication , Synthesis charges of working model or process Business Travel and Event participation Fees (Ceiling 10% of approved project cost)
Patent filing Cost – (PCT- Ceiling 10% of approved project cost)
Contingency - (Ceiling 10% of approved project cost)
The PRAYAS grant CAN NOT be used for:
To pay the grantee or their relatives.
To repay pre-existing loans or commitments of the innovator.
To pay usage charges to the Incubator from the PRAYAS grant.
Grantee can use other funds to pay any such charges, if any.
To pay rent of own accommodation, creation of infrastructure facility like shed etc.
As a stop gap arrangement to support any other professional pursuits.
What is the duration of PRAYAS program?
The project duration is 12 months. One further extension of 6 months may be granted based on the discretion of the PC.
Outsourcing Charges for R & D, Design Engg., Consultancy, Testing, Expert cost
Raw material, Consumables, Spares Fabrication , Synthesis charges of working model or process Business Travel and Event participation Fees (Ceiling 10% of approved project cost)
Patent filing Cost – (PCT- Ceiling 10% of approved project cost)
Contingency - (Ceiling 10% of approved project cost)
The PRAYAS grant CAN NOT be used for:
To pay the grantee or their relatives.
To repay pre-existing loans or commitments of the innovator.
To pay usage charges to the Incubator from the PRAYAS grant.
Grantee can use other funds to pay any such charges, if any.
To pay rent of own accommodation, creation of infrastructure facility like shed etc.
As a stop gap arrangement to support any other professional pursuits.
Outsourcing Charges for R & D, Design Engg., Consultancy, Testing, Expert cost
Raw material, Consumables, Spares Fabrication , Synthesis charges of working model or process Business Travel and Event participation Fees (Ceiling 10% of approved project cost)
Patent filing Cost – (PCT- Ceiling 10% of approved project cost)
Contingency - (Ceiling 10% of approved project cost)
The PRAYAS grant CAN NOT be used for:
To pay the grantee or their relatives.
To repay pre-existing loans or commitments of the innovator.
To pay usage charges to the Incubator from the PRAYAS grant.
Grantee can use other funds to pay any such charges, if any.
To pay rent of own accommodation, creation of infrastructure facility like shed etc.
As a stop gap arrangement to support any other professional pursuits.
For receiving the PRAYAS Grant, is it necessary to incubate with the Prayas Centre:
The selected applicant must pre-incubate or incubate with the Prayas centre upon receiving the PRAYAS grant.
What is the other support which I can get under PRAYAS program?
They will get access to the space, access to the fab lab, technical guidance, mentorship, during their project duration.
I have already received PRAYAS grant, can apply once again?
No, the innovator/start-up can avail the PRAYAS support only one time.
Can I avail NIDHI PRAYAS Grant if I have already availed NIDHI EIR in the past?
No, the innovators cannot avail NIDHI PRAYAS & NIDHI EIR for the same idea.