Applications Invited for the NIDHI PRAYAS Programme

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About the Organization

Sardar Patel Technology Business Incubator (SP-TBI) is an incubation centre founded in 2015 as an initiative of Bhartiya Vidya Bhavan’s Sardar Patel Institute of Technology and is affiliated with the Department of Science and Technology, Government of India.

SP-TBI is a technology incubation center that encourages and assists brave entrepreneurs in developing outstanding future Technology Ventures. SP-TBI is an initiative of Bharatiya Vidya Bhavan's Sardar Patel Institute of Technology. It is affiliated with the Department of Science and Technology of the Indian government. We act as a catalyst for new entrepreneurs, providing them with the best infrastructure, technology, seed capital, talent pool, mentorship, and training. We aspire to help startups succeed and scale to bigger heights.

About the Grant

NIDHI-PRAYAS (NIDHI-PRomotion and Acceleration of Young and Aspiring technology entrepreneur) is an umbrella program conceived and developed by the Department of Science & Technology, Government of India, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups. The program works in line with the national priorities and goals and its focus is to build an innovation driven entrepreneurial ecosystem with an objective of socioeconomic development through wealth and job creation. NIDHI-PRAYAS extends an invitation to receive prototype funding, spanning from the inception of an idea to its realization. This NIDHI scheme assists start-ups in bridging the early-stage gap by supporting them in transforming their ideas into product prototypes with promising commercial potential. Innovators are encouraged to utilize the PRAYAS grant as a means to materialize their concepts into tangible prototypes. We welcome students, graduates, professionals, and startups with creative concepts to submit applications for a prototyping grant offered through the NIDHI PRAYAS program. This initiative aims to foster ideas and innovations in knowledge-based and technology-driven ventures, nurturing the potential for successful startups. The Nidhi Prayas programme provides prototype grant up to INR 10 Lacs.

Objectives:

• To enable the translation of an innovative idea to a prototype.
• To aid innovators in converting their idea into a prototype.
• To offer a framework for expedited experimentation and adaptation of approaches throughout the journey from ideation to market.
• To indigenously generate innovative solutions relevant to the local and global problems.
• To elevate the pipeline, both in terms of quality and quantity of innovative start-ups reaching the incubators.
• To foster a dynamic innovation ecosystem, create connections among innovators, academia, mentors, and incubators.
• To captivate a significant cohort of young individuals showcasing a passion for problem-solving and adeptness in launching their own startups driven by new technology, knowledge, and innovation.

Broad Areas Covered Under NIDHI PRAYAS:

• An individual innovator without having a startup or founder of a startup can apply for Prayas grant.
• The applicant has to be an Indian Citizen with a government approved proof of nationality such as a valid passport, voter’s id etc.
• 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.
• Preference may be given to the innovators: having bootstrapped or have co-investment commitments; having clear roadmap for commercialization or start up creation; Women innovators; Young innovators
• PRAYAS grant is Proof-of-concept grant for converting idea and innovations into a prototype. Proposals for the products having crossed the prototype level are not eligible for support under NIDHI-PRAYAS.
• The ideas and innovations should be based on technology and science.
• The product prototype has to be a physical product.
• Applicants can be individual innovators or early-stage startups.
• 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.
• Prototype must be capable of being completed within 18 months.
• Innovators should have technical skills or background.
• Idea or Innovations should have a roadmap towards commercialization

Not Eligible:

• Prototypes associated with pure software development, e-commerce, service solutions, and app-based solutions.
• Students who are applicants engaged in long-term research endeavors such as doctoral research projects or similar undertakings.
• Supporting research or student internships in academic institutions or R&D organizations through funding.

Facilities Provided:

• Access to Tech Lab
• Plug-and-Play Dedicated Office
• Accesss to Startup-Toolkit
• Access to Prayas Shala
• Access to our Events & Webinars
• Access to our Talent Pool
• Access to Top-Class Mentors

Benefits:

• A prototype grant up to Rs. 10,00,000/- to build their ideas into prototypes..
• Mentorship, Networking, participation in various Startup / entrepreneurship-based events..
• Co-working spaces for developing ideas into Prototypes. .
• Access to various labs such as Prayas lab, IoT lab, ARVR lab, digital lab, robotics lab, electronics lab, mechanics lab and libraries will also be provided.
• Support to Talent Acquisition.

How to Apply

The last date to apply is 31st March 2025 EOD.

Apply now

For more information please check the Link

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Tags Entrepreneurship Innovations and Technology Skill Development Others