NIDHI-EIR Program

What is NIDHI-EIR?

  • NIDHI - EIR - National Initiative for Developing and Harnessing Innovation  - Entrepreneur-in-Residence
  • SIIC will facilitate fellowship grant to budding entrepreneurs for pursuing a promising technology business idea.
  • Selected entrepreneur eligible for grant maximum of Rs. 30,000 per month for a period of 12 months

Program Objective

  • To encourage graduating student to take up entrepreneurship as  a career option by providing fellowship support
  • Deserving and Budding Entrepreneurs to pursue their ventures without any additional risks involved in technology-based businesses
  • Subsistence grant to partially set off their opportunity costs of high paying jobs
  • To create, nurture and strengthen a pipeline of entrepreneurs for incubators
  • To enable creation of new start-ups by entrepreneurs and significant progress towards raising funding or investment

Why SIIC, IIT Kanpur?

  • Vibrant Innovation & Entrepreneurship ecosystem at IIT-K
  • Access to Imagineering Lab set up by SIIC which provides hardware, software, Tinkering & Prototyping facility which is open till midnight
  • Access to IIT-K faculty and alumni mentorship network

How to apply?

To apply for the program, click on NIDHI EIR Application Form.
 

ELIGIBILITY FOR NIDHI-EIR SUPPORT:

  1. The EIR applicant should be citizen of India. An Indian citizen is defined as one who is in possession of a government approved proof of nationality such as a valid passport, voter’s id etc.
  2. The EIR applicant should have completed minimum 4 years of formal full time undergraduate/post graduate education towards one or more degree programme.
  3. 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 recipient should not treat this support as a stop gap arrangement to support them in their academic pursuits or transition between jobs.
  4. 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.
  5. The NIDHI-EIR support recipient should propose one technology business idea in a prescribed format.
  6. NIDHI-EIR support recipient are expected to pursue their entrepreneurial aspirations full time. NIDHI-EIR cannot be concurrent with any other remuneration or fellowship.
  7. NIDHI-EIR support recipient cannot be the promoter or significant (>10%) share holder / beneficiary of another company at the time of applying for and receiving the grant approval.
  8. The NIDHI-EIR should be registered for the pre-incubation or incubation program at the TBI for the entire duration of NIDHI-EIR support.
  9. 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.
  10. Entrepreneurs pursuing business ideas with no or marginal technology innovation or those with very short journey (i.e less than 6 months) to commercialization are discouraged to apply.
  11. 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.
  12. Once the NIDHI-EIR raise funding or investments for their business ideas/ potential start ups, the grant support shall be discontinued from the date of receipt of the first tranche of funds.
  13. The NIDHI-EIR support recipient will be eligible for grant, maximum of Rs.30, 000/- per month with a minimum level of Rs.10, 000/- per month for a period of 12 months.

 

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