Applications Invited for NIDHI-EIR

About the Organization

The Healthcare Technology Innovation Centre (HTIC) is a multidisciplinary R&D facility that brings together technologists, engineers, doctors, healthcare professionals as well as industry and government players to develop healthcare technologies for the country. As a joint initiative of the Institute and the Government of India, HTIC collaborates with leading medical institutions and industry players in various healthcare areas to develop and deploy healthcare technologies.

HTIC works closely with industry in developing R&D solutions, joint development of technology products, technology assessment and evaluation. Additionally, the Centre works to develop human resources in healthcare technology in the country through various channels including Innovation fellowships, IIT Madras students and interns.

The MedTech incubator set up as a wing of HTIC, provides incubation facilities and nurtures MedTech start-ups and entrepreneurs to help them become successful MedTech enterprises.

About the Fellowship

The EIR program has been conceived to inspire the best talent to be entrepreneurs by supporting them with mentorship, access to office space and guidance. It also offers a monthly fellowship amount ranging from ₹10,000pm to ₹30,000pm for a year to minimize the risk involved in pursuing start-ups, and to partially set off their opportunity costs of high-paying jobs. The program has been introduced by NSTEDB, Govt. of India. The NIDHI-EIR program 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

Objective

• To encourage graduating students to take to entrepreneurship by providing support as a fellowship.
• To provide a prestigious forum for deserving and budding entrepreneurs to pursue their ventures without any additional risks involved in technology based businesses.
• To create, nurture and strengthen a pipeline of entrepreneurs for incubators
• To make pursuing entrepreneurship related to a technology business idea more attractive among available career options.
• To make pursuing entrepreneurship related to a technology business idea more attractive among available career options.

Eligibility

• The EIR applicant should be an Indian citizen
• The EIR applicant should have completed a minimum 4 years of formal full time undergraduate/postgraduate education towards one or more degree programmes.
• The EIR is expected to be committed to exploring a business idea. Typical NIDHI-EIR needing the support is a first generation innovative entrepreneur, who has no prior source of income. NIDHI-EIR support recipients should not treat this support as a stop gap arrangement to support them in their academic pursuits or transition between jobs.
• NIDHI-EIR seeking the support should demonstrate his ability to build a scalable technology business Startup. The background of the NIDHI-EIR needs to be provided in a prescribed format.
• The NIDHI-EIR support recipient should propose one technology business idea in a prescribed format.
• NIDHI-EIR support recipients are expected to pursue their entrepreneurial aspirations full time. NIDHI-EIR cannot be concurrent with any other remuneration or fellowship.
• NIDHI-EIR support recipient cannot be the promoter or significant (>10%) shareholder / beneficiary of another company at the time of applying for and receiving the grant approval.
• The NIDHI-EIR should be registered for the pre-incubation or incubation programme at the TBI for the entire duration of NIDHI-EIR support.
• Preference shall be given for a) technology business ideas with larger technology uncertainties and/ or long gestation periods, b) technology business ideas leveraging technology or IP from publicly funded research or academic organizations, c) 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.
• NIDHI-EIR seeking support should have a formal business plan for the idea they intend to pursue and a business presentation including the investment proposal.
• Once the NIDHI-EIR raise funding or investments for their business ideas/ potential Startups, the grant support shall be discontinued from the date of receipt of the first tranche of funds

How to Apply

For Application please click the Link

For more information please check the Link.