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NIDHI PRAYAS 2024

DST

NIDHI PRAYAS 2024: One step towards ENTREPRENEURSHIP

About

The National Science & Technology Entrepreneurship Development Board (NSTEDB), established in 1982 by the Government of India under the aegis of DST, is an institutional mechanism to help promote knowledge driven and technology intensive enterprises. The Board, having representations from socio-economic and scientific Ministries/Departments, aims to convert "job-seekers" into "job-generators" through Science & Technology (S&T) interventions.

National Initiative for Developing and Harnessing Innovations (NIDHI) is an umbrella program conceived and developed by the DST-NSTEDB, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups. The program would work in line with the national priorities and goals and its focus would be to build an innovation driven entrepreneurial ecosystem with an objective of socioeconomic development through wealth and job creation.

The NIDHI program is implemented through Prayas Centres (PC’s) selected by DST. The PC’s will support innovative ideas to convert them into prototypes by providing a prototype grant, physical space, Lab infrastructure, technical guidance and business mentorship. A typical Fab lab will comprise of equipment, tools and machines to facilitate mechanical and electronic fabrication.

Objective

To enable translation of an innovative idea to a prototype.

    • To provide a platform for faster experimentation and modify approaches in the idea to market journey.
    • To indigenously 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 work on their new technology/knowledge/innovation-based startups.
    • To enhance the pipeline in terms of quality and quantity of innovative start ups to the incubators.
    • To build a vibrant innovation ecosystem, by establishing a network between innovators, academia, mentors and incubators.

    • How to APPLY

    • Eligible innovators/startups shall duly fill the application attached and attach along with the google form attached. Any shortfalls in the submitted application will be subjected to rejection of the application.
    • Duly filled Application form SHALL BE SUBMITTED in the google form.
    • Applicants shall check their eligibility prior to applying and accept all the terms and conditions in full.
    • For any queries related to the program you may enquire through our email id-makervillage@iiitmk.ac.in

    • TERMS AND CONDITIONS

    • Ideas which are into electronic product development will be considered for the program.
    • Selection will be based on guidelines as prescribed under eligibility criteria described below.
    • PRAYAS applications will be subject to Decision of the committee members of the PC where innovator has applied. The decision of approval or rejection or reduced amount by the committee shall remain final and binding on the innovator. The amount allotted shall be provided in three tranches based on review by technical committee.
    • Second and third tranches will be released only upon submission of Audited Utilisation certificate by the NIDHI PRAYASEE over the previous allocation within 15 days of intimation on submission.
    • The selected Prayasee shall attend all the programs organised by the centre on intimation.
    • The applicant will be fully committed to work towards the prototype development for which the support is being sought with an intention to commercialization.
    • The project duration is 18 months. Prototype has to be completed within maximum 18 months from receiving the first tranche of the grant.
    • For incomplete projects, PRAYASEE must return unutilized amount of the grant.
    • Innovators will give declaration at the time of making application indicating that they have not received support under NIDHIPRAYAS for the same idea or NIDHI-EIR.

Disclaimer

    • The application received under the program, are subject to due diligence of screening process. Only shortlisted participants will be notified/informed about the final presentation to the monitoring committee.
    • Screening will be subject to the parameters other than the eligibility, such as Innovation, Potential for commercialization and venture craetion, Team capability and Commitment etc.
    • The decision of the screning committee for approval and funding support will be final, firm and binding.
    • The final decision of screening committee will be communicated only to the approved applicants via email.
    • The approved applicants will have to agree for Pre incubation/ Incubation with Maker Village as per its incubation policy/terms.
    • 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 Maker Village within the timeframe may be deemed as non-selection of your application for the program.
    • Maker Village will not provide any suggestion/explanation with regards to the application that are not selected.

For Eligibility Criteria Click Here- http://lnkiy.in/NidhiprayasMV

Last Date of Application - 15/12/2024


For enquiries please email: makervillage@iiitmk.ac.in