NIDHI-PRAYAS Program

                                                                  A PROTOTYPE FUNDING

What is NIDHI-PRAYAS?

  • NIDHI-PRAYAS- National Initiative for developing and harnessing Innovation - PRomoting and Accelerating Young and ASpiring innovators & startups
  • SIIC, IIT Kanpur will facilitate prototype funding to an innovator for a maximum amount of Rs. 10 lakhs with a cap of supporting 10 such innovators per year
  • SIIC, IIT Kanpur will provide a dedicated fabrication lab facility in IIT Kanpur campus to the innovators funded under this scheme for developing their prototype.

Program Objective

  • To enable translation of an innovative idea to a prototype.
  • To provide a platform for faster experimentation and modify approaches in 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 enhance the pipeline in terms of quality and quantity of Innovative start ups to the incubators.

Why SIIC, IIT Kanpur?

  • Vibrant Innovation & Entrepreneurship ecosystem @ IITK
  • 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

NIDHI-PRAYAS Program as the scheme suggests is to help – young and aspiring innovators. The focus is to provide support/funding from idea to prototype. This grant, therefore, will primarily be utilised by the innovators to convert their ideas into prototype.

It cannot, however, be used for supporting:
    • Any institute/organization(not being a start up company) to develop an IP into prototype.
    • Any innovators working/pertaining to an institute/organization for converting their IP into prototype.
    • Any idea which is part of academic research work carried out at the institute/personal level.
    • Any idea that is developed into prototype where the IP could vest with any institute/organization.

How to apply?

To apply for the program, download NIDHI-PRAYAS Application Form.

Guidelines for PRAYAS Support

1.    NIDHI-PRAYAS program will provide funding support for converting innovative ideas into prototypes.

2.    The eligibility criteria for the grantees are as follows

    A.    Individual innovator: He/She is required to be Indian Citizen at least 18 years of age on 1st of August, 2016. 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.

    B.    Existing incubatee of a PRAYAS centre:

             a.    The company is less than 2 years and wants to develop the prototype for a new product, for which they may have not received similar kind of support.

             b.    Company should have no significant revenue at the time of application.

    C.   Team of individual innovator: If the team wants to pursue the project, then there has to be an agreement among the team about the lead applicant and the lead applicant have to apply for NIDHI-PRAYAS. The financial support (after the selection process) will be given to the lead applicant on behalf of the team.

Not eligible for PRAYAS:

     A. Student applicants pursuing long term research projects like doctoral research projects or similar projects will not be supported.
     B. Professors or Academicians engaged in teaching with any academic or R&D institute.

3.    The priority areas for supporting innovations under NIDHI PRAYAS program are manufacturing, agriculture, healthcare, clean-tech, energy, water and Internet of Things (IOT) and other technology areas.

4.    The project should involve physical product development. The projects relating to software development and those involving pure academic research are not eligible.

5.    Preference may be given to those innovators

       A.    Who have bootstrapped or have got co-investment commitment.

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

       C.   Women innovators

       D.   Young innovators

6.    The maximum support can be provided per innovator/incubatee is upto Rs. 10 lakhs.

7.    If the innovator is pursuing to build a prototype from their institute/organization IP, then in that case innovator will take no objection certificate from the appropriate authority of their institute/organisation for use/IP transfer / ownership in favour of the innovator/startup.

8.    If the applicant is studying/working in an institute/organization, they should get a no objection certificate from that respective institute/organization for applying to NIDHI-PRAYAS.

9.    The NIDHI-PRAYAS grantee should be registered for the pre-incubation or incubation program at the TBI for the entire duration of the program, after going through the TBI’s selection process.

10.  NIDHI-PRAYAS grantee should be fully committed to work towards the prototype development for which the support is being sought and should not treat this as a stop gap arrangement to support any other pursuits.

11.  The innovator can avail the NIDHI-PRAYAS support only once and they should not have sought the similar support previously, from other Government of India organisation/Institution for the same innovative concept as proposed in the application form.

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