NIDHI-PRAYAS: A Catalyst for Hardware Product Startups in India

The National Initiative for Developing and Harnessing Innovations (NIDHI) component, PRAYAS (Promoting and Accelerating Young and Aspiring technology entrepreneurs), is a pre-incubation initiative by the Department of Science and Technology (DST). It specifically targets young innovators to help turn their ideas into tangible hardware prototypes, bridging the gap between a 'proof of concept' and an actual prototype.

What is this scheme?

NIDHI-PRAYAS is a grant-in-aid support system specifically designed for hardware-based product innovations. It provides a financial cushion and infrastructure support through various PRAYAS Centres (PCs) located across India. The scheme focuses on enabling innovators to build functional prototypes, thereby reducing the investment risks for subsequent stages like incubation or seed funding.

Who is eligible?

• Individual innovators or start-up founders with a scalable hardware product idea.
• The applicant must be a citizen of India.
• Should be at least 18 years of age.
• Students or faculty members can apply, provided they transition the project into a commercial venture.
• Previous recipients of the NIDHI-PRAYAS grant are not eligible for the same project.
• Must be associated with or willing to be incubated at a recognized PRAYAS Centre.

How much money?

A grant-in-aid of up to ₹10,00,000 (Rupees Ten Lakhs) for prototyping expenses.

Documents needed

1. Aadhar Card and identity proof
2. Detailed Project Report (DPR) or prototype plan
3. Proof of age
4. Category certificate (if applicable)
5. Declaration of no previous funding for the same prototype
6. Budget breakdown for the grant usage

How to apply (step by step)

1. Identify a nearby DST-recognized PRAYAS Centre (PC) that matches your technology domain.
2. Monitor the official portal of the selected PRAYAS Centre for active 'Calls for Applications'.
3. Submit a detailed application including the technical specifications of the proposed prototype.
4. Shortlisted candidates are called for a pitch/presentation before a Project Management Committee.
5. Upon selection, sign an agreement with the Host Institute (PRAYAS Centre).
6. Funds are released in installments based on project milestones and progress reviews.

Important dates

Conclusion

NIDHI-PRAYAS is a milestone initiative for India's 'Make in India' vision, empowering designers and engineers to overcome the 'valley of death' in hardware development. By providing financial support and access to fabrication labs, it ensures that innovative ideas don't fail due to a lack of early-stage capital.