Apply Now: NIDHI – PRAYAS Grant Scheme (India)

DST-NIDHI’s Promoting and Accelerating Young and Aspiring technology entrepreneurs (PRAYAS) is a pre-incubation initiative which supports young innovators to turn their ideas into Proof of Concept.

Aims

• The program aims to provide a platform to young innovators to generate solutions for relevant local and social problem. PRAYAS will also promote vibrant innovation ecosystem, by establishing a network between innovators, academia, mentors, and incubators by catalyzing the process of commercialization for innovators.

Benefits

• Funding
  • Rs.10 lakh (Max) as grant for converting his/her innovative idea into prototype within 18 months.
• Co-working
  • Shared/Co-working spaces for developing idea into Prototype
• Prototyping
  • Access to infrastructure and prototype building facility
• Acceleration
  • Development of idea from early to commercial stage and mentorship from experienced industry experts

Uses of the Fund

• Eligible Uses:
  • Outsourcing Charges for R&D or Design Engineering or Consultancy or Testing or Expert cost;
  • Raw material or Consumables or Spares;
  • Fabrication or Synthesis charges of 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).
• Ineligible Uses:
  • To pay the individual innovators or their relatives.
  • To repay pre-existing loans or commitments of the innovator.
  • To pay usage charges to the PC from the PRAYAS grant. PRAYSEES can use Other funds to pay any such charges, if any.
  • To pay rent of own accommodation, creation of infrastructure facility like shed, etc.
  • As a stop gap arrangement to support any other professional pursuits.

Eligibility criteria

• An individual innovator without having a startup or founder of a startup can apply for Prayas grant.
• In case of an applicant being an individual innovator without having a startup applying for PRAYAS:
  • The applicant 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 minimum of 18 (eighteen) years of age, as on the date of application.
  • If the applicant works in a team with other 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 or with the team as per the agreement and it would be further taken for commercialization.
• In case of an applicant being a co-founder of a Startup applying for PRAYAS:
  • The applicant 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 minimum of 18 (eighteen) years of age, as on the date of application.
  • The startup should be incorporated in India with a minimum 51% of its equity held by Indian citizens. The startup should not be more than 7 (seven) years of Existence.
  • The startup wants to develop the prototype for a new product, for which they have not received support from any other funding agency.
  • The startup should not have annual turnover exceeding Rs. 25 lakhs (Rupees Twenty Lakhs only) for any of the financial years since its inception.
  • IP generated would vest with the start up.
• The ideas and innovations should be based on technology and science.
• The product prototype has to be a physical product.
• Applicants can be individual innovators or early stage startups.
• Applicants will have ownership of the Project knowhow or IP of the proposed products or right to use knowhow or IP if it is owned by a third party.
• Innovators should have technical skills or background.
• Idea or Innovations should have a roadmap towards commercialization.
• The priority technology areas are manufacturing, agriculture, healthcare, clean-tech, energy, water and Internet of Things (IoT). Other technology areas may also be considered on strength or merit of the idea.
• Preference may be given to the innovators:
  • Having bootstrapped or have co-investment commitments.
  • Having clear roadmap for commercialization or start up creation
  • Women innovators
  • Young innovators

For more information, visit KSUM.