NIDHI PRAYAS Scheme
National Initiative for Developing and Harnessing Innovations (NIDHI) is an umbrella programme conceived and developed by the Department of Science & Technology (DST), Government of India, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful start-ups.
Under this initiative, DST has launched NIDHI- Promoting and Accelerating Young and ASpiring innovators & startups (NIDHI-PRAYAS) program. The program caters to idea-stage entrepreneurs with a physical product offering, who require support for prototyping. It would also facilitate the innovators with the Physical infrastructure, Technical Guidance, Business Mentorship etc.
The program is made possible with the support from DST, the National Science and Technology Entrepreneurship Development Board (NSTEDB), and SINE, IIT-Mumbai, The project management unit for the NIDHI-PRAYAS program.
Objectives of PRAYAS Prototyping Grant
- 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.