Implementing Body:

National Science & Technology Entrepreneurship Development Board (NSTEDB), Department of Science & Technology (DST), Government of India

About NIDHI – PRAYAS:

NIDHI-PRAYAS program focuses on addressing the funding gap at a very early stage idea/ proof of concept stage in the startup life cycle. This program aims to attract a large number of youngsters to come forward to try out their ideas without actually worrying about the failure and reach a stage where they have a market-fit product and are willing to approach incubators for commercialization.

Objectives of NIDHI-PRAYAS:

1. To enable the translation of an innovative idea to a prototype.
2. To generate innovative solutions relevant to local and global problems.
3. To enhance the pipeline in terms of quality and quantity of innovative start-ups to the incubators.
4. To build a vibrant innovation ecosystem, by establishing a network between innovators, academia, mentors, and incubators.

Program Benefits:

Prototyping Grant Support – Prototyping Grant of up to INR 10 Lakhs.

Prototyping Support & Incubation Space – Support for product development, prototyping and testing with partners and other stakeholders along with access to 20,000+ sq. ft. of incubation facility.

Mentoring & Guidance – Guidance from experienced entrepreneurs on the business model, strategy, sector, and market insights.

Eligibility Criteria:

1. An individual innovator without having a Startup or founder of a Startup can apply.
2. In case of an applicant being an individual innovator without having a Startup applying for PRAYAS:
• The applicant has to be an Indian Citizen with a government approved proof of nationality
• The applicant should be minimum of 18 years of age, as on the date of application.
• If the applicant works in a team with other innovators there has to be an agreement among the team about the lead innovator who would apply, and the funds will be transferred to the lead innovator’s account (after selection). IP generated would vest with the innovator or with the team as per the agreement and it would be further taken for commercialization.
3. In case of an applicant being a co-founder of a Startup applying for PRAYAS:
• Applicants have to be an Indian citizen with a government approved proof of nationality.
• Applicants should be minimum of 18 years of age, as on the date of application.
• Startup should be incorporated in India with a minimum 51% of its equity held by Indian citizens. The Startup should not be older than 7 years.
• Startup wants to develop the prototype for a new product, for which they have not received support from any other funding agency.
• Startup should not have annual turnover exceeding INR 25 lakhs for any of the financial years since its inception.
• IP generated would vest with the start up.
4. PRAYAS grant is Proof-of-concept grant for converting ideas and innovations into a prototype. Proposals for the products having crossed the prototype level are not eligible for support under NIDHI-PRAYAS.
5. The ideas and innovations should be based on technology and science.
6. The product prototype has to be a physical product.
7. Applicants will have ownership of the Project knowhow or IP of the proposed products or right to use knowhow or IP if it is owned by a third party.
8. Prototypes must be capable of being completed within 18 months.
9. Innovators should have technical skills or background.
10. Ideas or Innovations should have a roadmap towards commercialization.
11. SECTOR FOCUS: The priority technology areas are manufacturing, agriculture, healthcare, clean-tech, energy, water and Internet of Things (IoT). Other technology areas may also be considered on the strength or merit of the idea.
12. Preference may be given to the innovators
• Having bootstrapped or having co-investment commitments.
• Having clear roadmap for commercialization or start up creation.
• Women innovators
• Young innovators
13. The innovators in employment or pursuing students have to seek the NOC from their organization or institution. The NOC should include:
• Permission to apply for PRAYAS and extending sufficient time to work on the PRAYAS project.
• Permission that IP generated would vest with the innovator.

Notwithstanding the above, the followings will not be considered under NIDHI-PRAYAS:

Projects related to Pure Software development, e-Commerce, Service solutions, App. based solutions.

Funding research or student internship in Academic institutions or R&D organisations.

Guideline for Usage of funds:

To be used for:

1. Outsourcing Charges for R & D/ Design Engineering /Consultancy/Testing/Expert cost
2. Raw material/ Consumables/Spares
3. Fabrication /Synthesis charges of working model or process
4. Business Travel and Event participation Fees (Ceiling 10% of approved project cost)
5. Patent filing Cost – (PCT- Ceiling 10% of approved project cost)
6. Contingency – (Ceiling 10% of approved project cost)

It will NOT be used:

1. To pay the grantee or their relatives.
2. To repay pre-existing loans or commitments of the innovator.
3. To pay usage charges to the Incubator from the PRAYAS grant. Grantees can use other funds to pay any such charges, if any.
4. To pay rent of own accommodation, creation of infrastructure facilities like sheds etc.
5. As a stop gap arrangement to support any other professional pursuits.

Terms and Conditions:

PRAYAS support is in form of the grant which will be maximum up to Rs.10 lakhs.

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 applicant will be fully committed to work towards the prototype development for which the support is being sought with an intention to commercialize.

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 an unutilized amount of the grant.

If an innovator has already started a venture, the innovator should assign the IP ownership right to the Startup.

Innovators or Start-up teams cannot avail NIDHI PRAYAS Support for more than once nor from more than one centre. Innovators shall also not be supported in parallel under NIDHI-EIR and NIDHI-PRAYAS. Innovators will give a declaration at the time of making an application indicating that they have not received support under NIDHI-PRAYAS for the same idea or NIDHI-EIR.

FAQs (Frequently Asked Questions):

How and where do I apply for availing PRAYAS grant?

DST-NIDHI’s PRAYAS is a fund sanctioned by NSTEDB, Department of Science and Technology, Govt. of India, to PRAYAS Centre at PDEU IIC. The Centres shall announce periodical calls for applications. Link to apply for PRAYAS is given above.

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 a prototype for a 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 products (for ex. an IoT product) can be considered for project funding for an integrated hardware prototype development.

I have a 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 Click Here to know about the eligibility criteria for innovators or start-up.

What is the quantum of funding support given to innovators/start-up?

The maximum funding support provided is up to 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. Grantees can use other funds to pay any such charges, if any.

• To pay rent of own accommodation, creation of infrastructure facilities like sheds etc.

• As a stop gap arrangement to support any other professional pursuits.

What is the duration of the PRAYAS program?

The total duration of the proposed project by innovators under the PRAYAS program should not exceed 18 months. If there is no progress made by the innovator, the PC reserves the right to terminate the support to the innovator and the project will be discontinued, and the Innovator should return the unused funds.

For receiving the PRAYAS Grant, is it necessary to incubate with the PRAYAS Centre:

YES, the selected applicant must pre-incubate or intubate with the PRAYAS centre upon receiving the PRAYAS grant.

What is the other support which I can get under the PRAYAS program?

The PRAYASEE will get access to the space, access to the Fab Lab, technical guidance, mentorship, during their project duration.

I have already received a PRAYAS grant, can I apply once again?

NO, the innovator/start-up can avail the PRAYAS support only one time.

DISCLAIMER:

The applications received under the program are subject to due diligence of the screening process. Only shortlisted participants will be notified/ informed about the final presentation to the monitoring committee via email.

Screening will be subject to the parameters other than the eligibility, such as Innovation, Potential for commercialization and venture creation, Team capability and Commitment etc.

The decision of the screening committee for approval and funding support will be final, firm and binding.

The approved applicants will have to agree for Pre incubation/ Incubation with PDEU IIC 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 SINE within the timeframe may be deemed as non-selection of your application for the program.

FOR MORE DETAILS VISIT: NIDHI-PRAYAS