NIDHI PRAYAS (National Initiative for Developing and Harnessing Innovations – PRomoting and Accelerating Young and ASpiring Innovators & Startups) is a government-backed program under the Department of Science and Technology (DST), Government of India. It is implemented by the National Science & Technology Entrepreneurship Development Board (NSTEDB).NIDHI- PRAYAS Program aims at providing prototype funding to convert idea into prototype to young and aspiring innovators. Innovators should use the PRAYAS grant primarily convert their ideas into prototype of a product that has potential for commercialisation. The IP generated if any, should vest with the Innovator or the Start up.
Objective of this Programme
- attract a large number of youngsters, entrepreneurs, MSMEs and Start-ups to come forward to try out ideas without worrying about failure.
- help in creating opportunities for the youths who wish to eagerly engage in problem-solving abilities to work on new technology/innovation/knowledge-based start-ups.
- would bring about large numbers of potential ideas into the incubation programs, which will ultimately help in increasing the flow of quality incubate to the incubators.
- help in enabling the translation of innovative ideas into prototypes will largely encourage and sustain the journey of entrepreneurs, start-ups or MSMEs journey in the absence of this required critical support.
- help in creating an innovative ecosystem that is a multi-network platform between the Academia, Mentors, Innovators and Investors.
- providing a platform for faster experimentation and modify the various approaches in the idea to market journey.
- help to generate more innovative solutions that are relevant to the local and global problems faced by entrepreneurs, start-ups or MSMEs.
Quantum of Funds
- The TBI would provide the furnished space for the PRAYAS Centre. Each PRAYAS Centre would get a maximum of Rs.10 lakhs for space.
- The total cost of Rs.1 crore would include the equipment and the infrastructure/refurbishing cost.
- For annual operations which includes management of Fab Lab, a team with technical experts, furnishing costs, I.P. databases, consumables, and other utility charges, an amount of Rs.20 lakhs per year for consecutive five years shall be provided to PC.
- This Fabrication facility to be supported under PRAYAS will be called as “DST PRAYAS SHALA” and the innovators supported under the grant will be called as “PRAYASEEs” .
Eligibility
- Science and Technology Entrepreneurship Parks (STEPs)/Technology Business Incubators (TBIs) that are directly or indirectly promoted by the Government of India are eligible to apply.
- A STEP/TBI that has appropriate/adequate infrastructure and expertise to support the innovation scouting, selection for funding support, screening and monitoring of the progress of development is eligible to apply.
- The STEP/TBI must be in existence for at least 3 years before it is eligible to apply. This time/period limit is not applicable to entities that are created by the central or state governments.
- A pure R&D proposal for industrial consultancy and academic pursuits will not be eligible for the support provided under this programme.
- The proposals which are not complete or fall short of the eligibility criteria will not be considered.
Documents to be Submitted
- A covering letter addressed to the PMC on a STEP/TBI letterhead.
- A covering letter addressed to the PMU on a STEP/TBI letterhead.
- An endorsement letter addressed to the PMC from the Host Institution on Host Institution letterhead.
- A registration certificate of the STEP/TBI as a proof for being a ‘Not-for-Profit entity’.
- An MoA or MoU (whichever applicable) with the appropriate Host Institution.
- Bank details of the STEP/TBI bank account. (If the STEP/TBI is selected as a PRAYAS Centre then a separate ‘Interest-bearing bank account’ will be opened for NIDHI-PRAYAS)
- The PAN Card of the organization is required to be submitted.
- A CV/Bio-Data of the NIDHI-PRAYAS coordinator is also required.
- A document that briefly explains the contributions of the proposed/recruited STEP/TBI team which is necessary for managing the PRAYAS Centers (PRAYAS Centers (PC)).
- A list containing the names of potential innovators for NIDHI-PRAYAS
- A layout plan for 3000sqft PRAYAS Centers (PC)
- A ‘Time-Linked Activity Chart’ and ‘Detailed Work Plan’ for 5 years is also required to be submitted duly with all the above-mentioned documents.
Registration/Login Process
To Register, the following details need to be filled:
- Name of Applicant TBI
- Contact Email Id
- STEP/TBI PAN
- STEP/TBI sponsored by
- TBI registered as
- Date of Incorporation
- State
- City
- Thrust Area
- Total count of current Incubatees
- Applying for Financial Year
- The registration process is completed by clicking on the “REGISTER”
To Login, the following details need to be filled:
- Select Role [Applicant TBI, Prayas Center, Program Management Unit (PMU), Program Management Committee (PMC)]
- PAN Details
- Password
- Click on the “LOG IN” button to have access to the website.
FAQs
What is NIDHI PRAYAS?
NIDHI PRAYAS (National Initiative for Developing and Harnessing Innovations – PRomoting and Accelerating Young and ASpiring Innovators & Startups) is a government program under the Department of Science and Technology (DST), Government of India. It provides funding and support to early-stage innovators to develop prototypes for their ideas.
Who can apply for the NIDHI PRAYAS program?
Indian citizens above 18 years of age, including:
- Individual innovators.
- Early-stage startups (not in production or commercialization).
- Students and entrepreneurs working on hardware-based innovations.