An initiative of Bhartiya Vidhya Bhavan's Sardar Patel Institute of Technology

Sardar Patel Technology Business Incubator

Supported by Department of Science and Technology - Government of India

ABOUT THE PROGRAMME

Many innovators and startups lose interest in their technology ventures due to a lack of support for early-stage prototyping.

To address the gap in the very early stage idea/ proof of concept funding, under the National Initiative for Developing and Harnessing the Innovations (NIDHI) the National Science & Technology Entrepreneurship Development Board (NSTEDB), Department of Science & Technology (DST), Government of India launched the NIDHI-PRAYAS program.

The NIDHI-PRAYAS (NIDHI-PRomoting and Accelerating Young and Aspiring Technology Entrepreneurs) scheme is a pre-incubation initiative that helps young innovators develop their ideas into proof-of-concept. This support will enable innovators to test their ideas without fear of failure, allowing them to progress to the point where they have a finished product and are ready to approach incubators for commercialization.

The Nidhi Prayas programme provides prototype grant up to INR 10 Lacs.

OBJECTIVES

  1. To enable the translation of an innovative idea to a prototype.
  2. To provide a platform for faster experimentation and modify approaches in the idea to market journey.
  3. To indigenously generate innovative solutions relevant to the local and global problems.
  4. To attract a large number of youth who demonstrate problem-solving zeal and abilities to work on their new technology/knowledge/innovation-based startups.
  5. To enhance the pipeline in terms of quality and quantity of innovative start-ups to the incubators.
  6. To build a vibrant innovation ecosystem, by establishing a network between innovators, academia, mentors and incubators.

ELIGIBILITY CRITERIA

NIDHI-PRAYAS Program is focused on providing support/funding from idea to prototype to help – young and aspiring innovators. Innovators should use the PRAYAS grant, primarily to convert their ideas into prototypes..

Who can Apply?

  • Individual Innovator OR Team of Innovators
  • Founders, Co-founders of Start-up
  • Innovators in employment OR Students with any R&D organization / Academic Institution

For detailed eligibility & conditions: Click here!

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. .

GUIDELINES FOR USE OF FUNDS BY THE PRAYASEE

    Can be used for:

    • Outsourcing Charges for R&D/ Design Engg/ Consultancy/ Testing/ Expert cost
    • Raw material/ Consumables/ Spares
    • Fabrication / Synthesis charges of a working model or process
    • Business Travel and Event participation Fees (Ceiling 10% of approved project cost)
    • Patent filing Cost – (PCT - Ceiling 10% of approved project cost)
    • Contingency - (Ceiling 10% of approved project cost)
    • The funds should be mainly utilized for prototype development work/proof of concept

    Cannot be used for:

    • To pay the grantee/relatives.
    • To pay usage charges to the TBI*
    • To repay loans/ commitments made earlier.
    • To pay rent of own accommodation, creation of infrastructure facility like a shed, etc should not form the component of support/funds.

    * Subject to conditions of SP-TBI


    How can I use the PRAYASHALA?

    • All prayasees will have free access to all facilities established as part of the PRAYAS initiative at the PRAYASHALA at SP-TBI for the length of their project.
    • PRAYAS Center will provide prototyping mentorship support to all prayasees.
    • All users of the PRAYASHALA must adhere to SP-TBI's rules and regulations.