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 -

• 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 / team and it would be further taken for commercialization

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

• At the time of application, the period of existence of a start-up and its operations should not exceed 7 years from the Date of Incorporation.
• Wants to develop the prototype for a new product, for which they may have not received similar kind of support.
• Company should have annual turnover not exceeding Rs. 25 lakhs for any of the financial year since its inception.
• IP generated would vest with the start up

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

• It is mandatory that the innovators pursuing PRAYAS should have the Project know how and own the IP.
• The innovator has to seek the NOC from their organisation / institution. The NOC should have the following:
  • Permission to apply for PRAYAS and the innovator will be granted sufficient time to work on the PRAYAS project
  • IP generated would vest with the innovator / team and it would be further taken for commercialization