GRANT ALERT :- NIDHI- PRAYAS Program aims at providing prototype funding to young innovators.

Updated: Jul 12

The IIITD Innovation & Incubation Center is actively involved in the development of the entrepreneurial attitude and environment for ideation, creation, and commercialization of enterprises that are connected with the incubation center's fundamental concept.



Last date for application:-

15 June 2022



Purpose:-

  • To enable translation of an innovative idea to a prototype

  • To support faster experimentation and the idea to market journey

  • To 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 build a vibrant innovation ecosystem, by establishing a network between innovators, academia, mentors and incubators.



Nidhi Prayasees can avail the following benefits -

  • Prototype Grant

  • Infrastructural Support

  • Mentorship

  • Design Innovation lab

  • Facilities of the Host Institute

  • Business Facilitation



Interventions:-


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 commercialization. The IP generated if any, should vest with the Innovator or the Start up. The maximum funding support to an innovator/startup will be upto 10 lakhs, however the final amount is subject to the approval of Monitoring committee of a PRAYAS Centre (PC).




Eligibility Criteria for NGOS:-


Individual innovator: He/she is required to be an Indian Citizen with at least 18 years of age as on the date of application. An Indian citizen is the one who is in possession of a government of India approved proof of nationality such as a valid passport, voter’s id etc. Existing incubator of a PRAYAS center (Incubator): a) The company is less than 2 years and wants to develop the prototype of the product for which they are incubated and for which they may have not received similar kind of support. b) Company should have no significant revenue at the time of application. Team of individual innovators: If the team wants to pursue a project, then there has to be an agreement among the team about the lead applicant and the lead applicant has to apply for NIDHI-PRAYAS. The financial support (after the selection process) will be given to the lead applicant on behalf of the team.



Preference will be given to those innovators

Who have raised a portion of the project cost themselves or have secured co-investment commitment.



  • Who have a clear road map for commercialization or start up creation.

  • Among the innovators who are applying for NIDHI – PRAYAS satisfying all the requirements, preference will be given to Women innovators and Young innovators.


For more information please click here


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