The NIDHI-Promotion and Acceleration of Young and Aspiring technology entrepreneurs (NIDHI-PRAYAS) program is one of the programs introduced under NIDHI Scheme by DST, GoI that focuses on addressing the idea to prototype funding gap. This is a program designed to attract a large number of youngsters to come forward to try out their ideas and try to see if they will work in real life business situations.

Eligibility

Applicant needs to be a citizen of India and Above the age of 18

1. Individual Innovator OR Team of Innovators: -

The innovator should have the knowhow of the PRAYAS project. For team of innovators there has to be -

a. 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)

b. IP generated would vest with the innovator / team and it would be further taken for commercialization

2. In the case of Founders, Co-founders of Start-up applying for PRAYAS:-

a. At the time of application, the period of existence of a start-up and its operations should not exceed 7 years from the Date ofIncorporation.

b. Wants to develop the prototype for a new product, for which they may have not received similar kind of support.

c. Company should have annual turnover not exceeding Rs. 25 lakhs for any of the financial year since its inception

d. IP generated would vest with the start up

3. Innovators in employment OR Students with any R& D organisation / Academic Institution:-

a. It is mandatory that the innovators pursuing PRAYAS should have the Project know how and own the IP.

b. The innovator has to seek the NOC from their organisation / institution. The NOC should have the following

I. Permission to apply for PRAYAS and the innovator will be granted sufficient time to work on the PRAYAS project

II. IP generated would vest with the innovator / team and it would be further taken for commercialization.

Focus Areas