Implementing Body:

Department of Science & Technology (DST), Government of India.

 

Program Implementation Body:

Venture Centre, NCL, Pune; identified as Programme Implementing Partner (PIP) by NSTEDB (National Science and Technology Entrepreneurship Development Board)

 

About NIDHI – EIR Fellowship Program:

Entrepreneurs-in-Residence (EIR) Program is one of the most prominent and enticing programs introduced under the NIDHI Scheme by the DST, GoI. NIDHI-EIR Fellowship Program has been conceived to inspire the best talents to be entrepreneurs, by nurturing them, offering mentorship on entrepreneurship, by offering access to office space and guidance. It provides tremendous opportunities for innovative entrepreneurs to expand their networks and get critical feedback on their ventures in order to promote their entrepreneurial career goals and aspirations. 

It also offers a monthly fellowship amount for a year to minimize the risk involved in pursuing start-ups, and to partially set off their opportunity costs of high paying jobs.

 

Program Benefits:

  • Fellowship Grant Support: Grant of up to INR 3.6 Lakh as monthly fellowship spread across 12 months ranging from  INR 10,000 to INR 30,000.
  • Prototyping Support: Support for product development, prototyping and testing with partners and other stakeholders.
  • Mentoring & Guidance: Guidance from experienced entrepreneurs on the business model, strategy, sector and market insights.
  • Incubation Space: EIRs get incubation space, access to group knowledge sessions and pitch review at the incubation centre in Ahmedabad.

 

Program Objective:

  • To encourage graduating students to take up entrepreneurship as a career option without any additional risks involved in technology based businesses. 
  • To enable creation of new start-ups by entrepreneurs and significant progress towards raising funding or investment

 

Program Eligibility Criteria:

  • is an Indian citizen;
  • is a having undergraduate/post-graduate degree or diploma, in the field of science or engineering;
  • is a first-generation innovative-entrepreneur, who has no prior source of income;
  • a scalable technology business start-up and is expected to pursue it full time;
  • is or shall not be the promoter or shareholder holding more than 10% of another company
  • should have a formal business plan for the idea they intend to pursue

 

FAQs (Frequently Asked Questions):

  1. What is the NIDHI EIR Program?
    Entrepreneurs-in-Residence (EIR) Program is one of the programs introduced under the NIDHI Scheme by the Department of Science & Technology, Government of India. NIDHI-EIR Fellowship Program has been conceived to inspire the best talents to be entrepreneurs, by nurturing them to entrepreneurship with mentorship, access to office space, and guidance. PDEU Innovation and Incubation Centre has been selected under this scheme in October 2021.
  2. What support shall be provided to a recipient under NIDHI EIR Program?
    Funding Support of minimum INR 10,000/- to maximum INR 30,000/- per month for a period of 12 months shall be given to an individual. Other Benefits such as Prototyping support, Mentoring & Guidance, and Access to Incubation Space & Lab Facilities will be available at a reasonable service charge.
  3. Who can apply for the Program?
    • is an Indian citizen;
    • is a having undergraduate/post-graduate degree or diploma, in the field of science or engineering;
    • is a first-generation innovative-entrepreneur, who has no prior source of income;
    • is a scalable technology business start-up and is expected to pursue it full time; and
    • is or shall not be the promoter or shareholder holding more than 10% of another company
  4. Can an under-graduation final year student apply for the Program?
    No, an individual who has completed 4 years of formal undergraduate/postgraduate education OR has completed a 3 years degree or diploma program in science or engineering and has 2 years of full-time work experience post-degree or diploma, can only apply for the program.
  5. How to apply for the program?
    An individual can apply for the program online with the help of the following link/QR code: https://forms.gle/gJsNeHEzfAW3PYMT9
  6. What documents or details are required for applying?
    Following documents will be required while applying online :

    • Proof of citizenship (Aadhaar)
    • PAN Card
    • Passport size photo
    • CV or Resume with details of education and work experience
    • Concept note of the proposed technology/business idea describing the knowledge or technology intensity aspects of the idea
    • Business presentation including the investment proposal (As per the template given in the online form)
  7. What is the Selection Process?
    • Upon receipt, the Online Applications will be evaluated by the internal team of PDEU IIC – NIDHI TBI.
    • Post Internal Evaluation, shortlisted applicants will be called for screening.
  8. What are the Selection Criteria/Parameters?
    • Clarity of Business Idea
    • Team Expertise
    • Product/Service’s Achievability
    • Market Competitiveness
    • Uniqueness of Idea
    • Preference shall be given to:
      • Technology business ideas with larger technology uncertainties and/ or long gestation periods,
      • Technology business ideas leveraging technology or IP from publicly funded research or academic organisations,
      • Technology business ideas with considerable potential for social impact.
    • Entrepreneurs pursuing business ideas with no or marginal technology innovation or those with a very short journey (i.e. less than 6 months) to commercialization are discouraged to apply.
  9. Is it necessary for a selected individual to get incubated at PDEU IIC – NIDHI TBI?
    Yes, it is necessary for a selected individual to get incubated at PDEU IIC – NIDHI TBI
  10. Can an individual submit an application for more than one idea/start-up under this Program?
    No, an individual can only apply for one idea/start-up under this program.

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FOR MORE DETAILS VISIT: NIDHI-EIR

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