NIDHI-PRAYAS: Fueling Hardware Innovations with Prototypes Grants

The NIDHI-PRAYAS (Promoting and Accelerating Young and Aspiring technology entrepreneurs) program is a flagship initiative under the Department of Science and Technology (DST). It specifically addresses the 'valley of death' in hardware product development by providing financial support to innovators to convert their ideas into tangible prototypes.

What is this scheme?

NIDHI-PRAYAS is a pre-incubation grant designed to support innovators who have a proof of concept but lack the funds to build a functional prototype. The program is implemented through PRAYAS Centres (PCs) located across various incubators in India, providing not just funding but also access to fabrication labs (PRAYAS Shala) and mentorship.

Who is eligible?

• Individual innovators or start-up founders with a legal entity registered in India.
• The innovator must be a citizen of India with a valid government ID.
• The project must be centered around a physical product or hardware innovation.
• Innovators must be at the ideation or Proof of Concept (PoC) stage.
• The applicant must be incubated or willing to be incubated at a PRAYAS Centre.
• The startup should not have raised more than a specific limit in funding (As per latest notification, verify on official portal).

How much money?

The grant provides financial assistance up to INR 10 Lakhs per innovator or startup for prototyping activities.

Documents needed

1. Aadhar Card and PAN Card of the applicant.
2. Detailed Project Report (DPR) or Business Plan.
3. Proof of Concept (designs, drawings, or initial results).
4. Registration certificate (if the startup is incorporated).
5. Bank account details for fund disbursement.
6. Undertaking regarding prior grants received from other government sources.

How to apply (step by step)

1. Identify a nearby PRAYAS Centre (incubator) that is currently accepting applications.
2. Prepare a detailed proposal highlighting the problem statement, innovativeness, and technical feasibility.
3. Submit the application through the official portal of the specific PRAYAS Centre.
4. Attend the screening committee meeting for an oral presentation and Q&A session.
5. Upon selection, sign a grant agreement and complete the incubation onboarding process.
6. Receive funds in milestones and utilize the PRAYAS Shala for prototype building.

Important dates

Conclusion

The NIDHI-PRAYAS scheme is a cornerstone for India's 'Make in India' vision, empowering hardware tech-entrepreneurs to mitigate the high costs of product development. By offering a risk-free grant and technical infrastructure, it allows innovators to test their ideas and prepare for full-scale commercialization.