NIDHI-PRAYAS is a preincubation initiative and thereby attracts a large number of youngsters, entrepreneurs, MSMEs , and Start-ups to come forward to try out ideas without worrying about failure. The National Initiative for Developing and Harnessing Innovations-Promoting and Accelerating Young and Aspiring Innovators & Start-ups (NIDHI-PRAYAS) program’s primary focus is on addressing the idea of the prototype funding gap to the public. This program is supported by the Department of Science and Technology under the Ministry of Science and Technology, Government of India.
Objective of this Programme
The NIDHI-PRAYAS programme will:
- 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.
Eligibility for Submission
- 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.
Quantum of Funds
The funds are allocated to the Science and Technology Entrepreneurship Parks (STEPs)/Technology Business Incubators (TBIs) and below is the methodology of allocating 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” .
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
- 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
- Click on the “LOG IN” button to have access to the website.
Documents to be Submitted
The following list of documents are required, scanned copy is to be uploaded after the completed form is filled:
- 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.
Step-1: After the TBI is done with the process of registration, it has to fill the application form while also uploading the scanned copies of required documents onto the portal.
Step-2: A printable application will be auto-generated after ‘STEP 1’, the TBI is expected to print and sign the application form with the affixed seal. The application form along with the necessary documents has to be sent to the following address:
- NIDHI-PRAYAS PMU
- Society for Innovation and Entrepreneurship (SINE)
- 3rd Floor CSRE Building,
- IIT Bombay, Powai
- Mumbai 400076
The PMU will further verify and forward the completed applications to PMC. Incomplete applications will be rejected. TBIs with verified applications will be presented for further processing. The approval for PRAYAS Centers (PC) will be given after deliberations that are done during the committee meeting, directly by the PMC.