National Initiative for Developing and Harnessing Innovations (NIDHI) is an umbrella programme conceived and developed by the Department of Science & Technology, Government of India, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful start-ups.
Sponsoring Agency: DERBI Foundation
Type of Fund: Program
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 01/23/2022
Size of the Fund: Not Available
National Initiative for Developing and Harnessing Innovations (NIDHI) is an umbrella programme conceived and developed by the Department of Science & Technology, Government of India, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful start-ups.
The program caters to idea-stage entrepreneurs with a physical product offering and who require support for prototyping.
Objectives Of NIDHI PRAYAS
• To build a vibrant innovation ecosystem, by establishing a network between innovators, academia, mentors and incubators
• To support faster experimentation and idea to market journey
• To generate innovative solutions relevant to the local and global problems
• To attract a large number of youth who demonstrates problem solving zeal and abilities
• To enable translation of an innovative idea to a prototype
• Facilitate new technology/knowledge/innovation based startups
Focus Area: HealthTech
• Telemedicine
• Point of Care Device
• Hospital Automation
• AI for Diagnosis
• Sports and Wellness
Program Offerings
• Prototyping grant
• Access to lab incubation space
• Deep mentoring
• Customer discovery and validation
• Scale -up support for select startups
Who Can Apply
• Individual innovator: He/she is required to be an Indian Citizen with at least 18 years of age as on the date of application. An Indian citizen is the one who is in possession of a government of India approved proof of nationality such as a valid passport, voter’s id etc.
• Existing incubatee of a PRAYAS centre (Incubator): a) The company is less than 2 years and wants to develop the prototype of the product for which they are incubated and for which they may have not received similar kind of support. b) Company should have no significant revenue at the time of application.
• Team of individual innovators: If the team wants to pursue a project, then there has to be an agreement among the team about the lead applicant and the lead applicant has to apply for NIDHI-PRAYAS. The financial support (after the selection process) will be given to the lead applicant on behalf of the team.
• Preference will be given to those innovators
o Who have raised a portion of the project cost themselves or have secured co-investment commitment.
o Who have a clear road map for commercialization or start up creation.
Among the innovators who are applying for NIDHI – PRAYAS satisfying all the requirements, preference will be given to Women innovators and Young innovators.
The applicants will have to become an incubate of the TBI fulfilling the admission criteria so as to avail the benefits.
Restrictions to apply for the Scheme
• Student applicants pursuing long term research projects like doctoral research projects or similar projects will not be supported
• Professors or Academicians engaged in teaching with any academic or R&D institute.
• The project should involve physical product development. The projects relating to software development and those involving pure academic research are not eligible.
The following also cannot be supported under PRAYAS Scheme:
• 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 that is developed into prototype where the IP could vest with any institute/organization.
• Screening of applications will take 6-8 weeks, from the date of closure of online applications. Only selected candidates will be notified. No communication from DERBI Foundation within the timeframe may be deemed as non-selection of your application for the program.
• DERBI will not provide any suggestion/explanation with regards to the application that are not selected.
More information at: https://derbifoundation.com/nidhi-prayas-cohort-2/
Eligible Countries:
India
Business Categories:
Healthcare, Startups, Science and Technology, Innovation
