TBI@ACE – PRAYAS
National Initiative for Developing and Harnessing Innovation (NIDHI) - PRomotion and Acceleration of Young and ASpiring innovators and start-ups (PRAYAS) program is to support young innovators turn their ideas into proof-of-concepts. This support shall allow the innovators to try their ideas without fear of failure, hence allowing them to reach a stage where they have a ready product for commercialization. Hence NIDHI-PRAYAS can be considered a pre-incubation initiative and a source of pipeline for incubators.
Objectives of NIDHI-PRAYAS
- To enable translation of an innovative idea to a prototype
- To provide a platform for foster experimentation and modify approaches to market journey.
- To generate innovative solutions relevant to the local and global problems.
- To attract a large number of youth who demonstrate problem solving zeal and abilities
- To work on their new technology/knowledge/innovation based Start-ups.
- To enhance the pipeline in terms of quality and quantity of innovative Start-ups to the incubators.
- To build a vibrant innovation ecosystem, by establishing a network between innovators, academia, mentors and incubators.
Benefits to NIDHI-PRAYAS Innovators
- Upfront cash support upto 10 Lakhs per Incubatee or per lead applicant.
- Usage of FAB Lab (PRAYAS SHALA)
- Infrastructure & Technical Support
- Mentoring and Coaching
- Facilitating IP & Patents for Product Development
- Business Network
- Manufacturing & Customer Connect
- Demo day
NIDHI- PRAYAS Program is to help – young and aspiring innovators. The focus is to provide support/funding to develop prototype from concept.
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.
Guidelines for PRAYAS support
(N.B.: The guidelines and Terms and Conditions are subject to change periodically)
- NIDHI PRAYAS program will provide funding support for converting innovative ideas into prototypes
- 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, 2018. 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 innovators: If the team wants to pursue the project, then there has to be an agreement among the team with 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
- Student applicants pursuing long term research projects like doctoral research projects or similar projects will not be supported
- Professors or Academicians engaged in teaching with any academic or R&D institute.
- The projects relating to pure software development and those involving pure academic research are not eligible.
- The priority areas for supporting innovations under NIDHI PRAYAS program is the domain of Incubation centre (DETI@ACE) besides other sectors like manufacturing, agriculture, healthcare, clean-tech, energy, water and Internet of Things (IoT).
- The project should involve physical product development. The projects relating to software development, web design and those involving pure academic research are not eligible.
- 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
- The maximum support can be provided per innovator/incubatee is upto Rs. 10 lakhs.
- 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/start-up.
- 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.
- 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.
- 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.
- 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.
- If the innovator is pursuing to build a prototype by the academia/research connoisseurs, mentored intellectually then, joint patent of the prototype may be made.
Eligibility for Innovators for PRAYAS support
Any individual applying for PRAYAS has to be an Indian Citizen with a government approved proof of nationality such as a valid passport, voter’s id etc. The applicant should be in the age group of minimum of 18 years, as on date of application.
- 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.
In 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 of Incorporation,
- 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.
- 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.