NIDHI PRAYAS
SCHEME
Prototyping Grant
Call for application for prototyping projects through modelling and fabrication process under NIDHI – PRAYAS Scheme @CIE IIIT Hyderabad NIDHI PRAYAS
Objectives of PRAYAS Prototyping Grant
The main objective of the CIE IIIT Hyderabad NIDHI PRAYAS Centre (PC) is to support the innovators by providing prototyping grant and provide with the PC Fab Lab facility for the development of PoC / ready product thus bringing the gap between idea and prototyping funding.
- Enable translation of an innovative idea to a prototype
- Provide a platform for faster experimentation and modify approaches in the idea to market journey
- Generate innovative solutions relevant to the local and global problems
- Attract a large number of youth who demonstrates problem solving zeal and abilities
- A pre-incubation program or pipeline activity leading to startup incubation. Ideal end point is venture creation and development
Guidelines for PRAYAS
Eligibility Criteria
The eligibility criteria for the grantees are as follows:
The eligibility criteria for the grantees are as follows:
- 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 a minimum of 18 years, as on the date of application.
The innovator should have the know-how of the PRAYAS project. For a 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
- 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 a similar kind of support.
- The company should have an annual turnover not exceeding Rs. 25 lakhs for any of the financial years since its inception
- IP generated would vest with the start-up
- 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
