The eligibility criteria for the grantees are as follows:
- Individual innovator: Applicants are required to be Indian Citizen at least 18 years of age on 1st of August, 2016. 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.
- Existing incubatee of a PRAYAS centre:-
- 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.
- Company should have no significant revenue at the time of application.
- Team of individual innovator: If the team wants to pursue the project, then there has to be an agreement among the team about 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 project should involve physical product development. The projects relating to
software development and those involving pure academic research are not eligible.
Preference may be given to those innovators:
– Who have bootstrapped or have got co-investment commitment.
– Who have clear road map for commercialization or start up creation.
– Women innovators
– Young innovators
- If the innovator is pursuing to build a prototype from their institute/organization IP, then in that case innovator will take NOC from the appropriate authority of their institute/organisation for use/IP transfer/ownership in favour of the innovator/startup.
- 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.