NIDHI-PRAYAS
PRomoting and Accelerating Young and ASpiring Innovators & Startups
PRAYAS Program
In the present climate of innovation in India, there is support available for both R&D of ideas and commercialization of products, especially that which is provided by Science and Technology Entrepreneurship Parks (STEPs) and Technology Business Incubators (TBIs) promoted by NSTEDB of DST, Government of India. An early stage prototype/proof of concept (PoC) fund is needed to effectively convert technology ideas and innovations into products, and eventually to spur entrepreneurship.
DST-NIDHI's PRAYAS (PRomoting and Accelerating Young and ASpiring Innovators and Startups) specifically supports young innovators to turn their ideas into PoC, allowing them to try their ideas without fear of failure. Please click here for the scheme document.
Program Objective
- To enable translation of an innovative idea to a prototype.
- To provide a platform for faster experimentation and modify approaches in the idea to market journey.
- To indigenously generate innovative solutions relevant to local and global problems.
- To attract a large number of youth who demonstrate problem solving zeal and abilities.
- To work on new technology/knowledge/innovation based startups.
- To enhance the pipeline in terms of quality and quantity of innovative startups to the incubators.
- To build a vibrant innovation ecosystem by establishing a network between innovators, academia, mentors and incubators.
Program Management Unit (PMU)
The PMU of NIDHI-PRAYAS is the central agency responsible for smooth and timely implementation of the program. Society for Innovation and Entrepreneurship (SINE), IIT Bombay has been chosen by DST as PMU. The PMU will perform the following roles:
- Managing call for applications from PCs
- Screening of applications and placing them before the DST appointed PRAYAS Management Committee (PMC) for selection
- Organizing PMC Meetings as per DST's direction
- Receiving PRAYAS funds from DST and transfer them to all PCs
- Monitoring the utilization of funds by PCs
- Maintaining the online portal for NIDHI-PRAYAS
- Monitoring of innovators via PCs, progress, utilization of funds
- Documentation of success and failures of PCs and innovators
- Reporting all above data to PMC on periodical basis
- Grievance redressal
For information about SINE, please visit www.sineiitb.org
PRAYAS Centres (Incubators)
Every year 10 STEPs or Incubators will be selected by a DST appointed committee to host PRAYAS Centres (PCs). Each PC shall be supported for 5 years, providing prototype grants, physical space, lab infrastructure, technical guidance and business mentorship. The PCs will create a dedicated fab-lab and working space of about 3000 sqft. The prototyping facilities will be called "DST PRAYAS SHALA", enabling innovators to go through cycles of imagination, design, prototyping, reflection, and iteration.
Please click here for application process.
Equipment
A typical PRAYAS SHALA will have a Fab Lab with electronics, metal work, mechanical equipment or BioLab for enabling prototyping activities.
Grants to PCs
- INR 1 cr Capital Expenditure for PRAYAS SHALA
- INR 1 cr/year for grants to innovators (10 lakhs x 10)
- INR 20 lakhs/year for operations and management
Grant to Innovators (PRAYASEEs)
Innovators can apply to one of the PCs for seeking PRAYAS grant support under the programme.
Grant
Upto 10 Lakhs
Duration
18 Months
Focus
Science & Tech
Output
Physical Prototype
The selected innovators will be called "PRAYASEEs", and would get access to infrastructure, prototype grant and mentorship.
About Us
DST & NSTEDB
Department of Science & Technology (DST), Government of India was established in May 1971, with the objective of promoting new areas of Science & Technology (S&T) and to play the role of a nodal department for organising, coordinating and promoting S&T activities in the country. The Department has major responsibilities for formulation of policies related to S&T and specific projects and programmes related to S&T.
The National Science & Technology Entrepreneurship Development Board (NSTEDB), established in 1982 by the Government of India under the aegis of DST, is an institutional mechanism to help promote knowledge driven and technology intensive enterprises. The Board, having representations from socio-economic and scientific Ministries/Departments, aims to convert "job-seekers" into "job-generators" through S&T interventions. The main objectives are:
- To promote and develop high-end entrepreneurship for S&T manpower as well as self-employment by utilising S&T infrastructure and methods.
- To facilitate and conduct various informational services relating to promotion of entrepreneurship.
- To network agencies of the support system, academic institutions and R&D organisations to foster entrepreneurship.
- To act as a policy advisory body with regard to entrepreneurship.
DST-NIDHI
National Initiative for Developing and Harnessing Innovations (NIDHI) is an umbrella program conceived and developed by the DST-NSTEDB, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups. The program works in line with national priorities, with a focus to build an innovation driven entrepreneurial ecosystem for socioeconomic development.
NIDHI aims to nurture start-ups through scouting, supporting and scaling of innovations. Key stakeholders include various departments and ministries, state governments, academic and R&D institutions, incubators, mentors, financial institutions, angel investors, venture capitalists and private sectors.
Key components of NIDHI:
- NIDHI-GCC - Grand Challenges and Competitions for scouting innovations
- NIDHI-PRAYAS - Support from Idea to Prototype
- NIDHI-EIR - Entrepreneur in Residence, support system to reduce risk
- NIDHI-TBI - Technology Business Incubator, converting innovations to start-ups
- NIDHI-Accelerator - Fast tracking start-ups through focused intervention
- NIDHI-SSS - Seed Support System, providing early stage investment
- NIDHI-CoE - Centres of Excellence, world class facility to help startups go global
PMU - SINE, IIT Bombay
Society for Innovation and Entrepreneurship (SINE) is a not-for-profit organisation at IIT Bombay for fostering entrepreneurship and nurturing S&T based start-ups. It administers a business incubator which facilitates the conversion of research activity into entrepreneurial ventures by providing 'Start to scale' support to innovators and startups. Set up in 2004, it is one of the earliest incubators in academia with a potential to create startups focusing on economic growth, strategic value and social relevance. It offers pre-incubation programs, incubation support to tech startups and also runs accelerator programs in corporate partnership.
SINE has been selected as "Centre of Excellence" by DST with funding support to scale up its activities. It has also been approved BIRAC support under DBT to set up a Bio incubator 'BioNEST' to support bio-med-tech startups. SINE is also supported by MeitY.
www.sineiitb.org PRAYAS Management Committee
PRAYAS Management Committee is a DST appointed empowered committee consisting of members from varied technologies and science background. The role of the committee is to evaluate and recommend the funding support to PRAYAS centres. The committee is also responsible for monitoring and providing guidelines for implementation and improvement of the PRAYAS program.
Contact Us
Address
Program Management Unit (PMU)Society for Innovation and Entrepreneurship (SINE)
IIT Bombay, Powai, Mumbai - 400 076, India.