5 Aug 2019

NIDHI3 min read

National Initiative for Developing and Harnessing Innovations – NIDHI

Source: Press Information Bureau

NIDHI, an umbrella program was pioneered by the Department of Science & Technology (DST), Government of India, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups

Objectives 

  • To take forward student innovations in IEDC / NewGen IEDC programme to commercialization stage.
  • To promote student startups.
  • To accelerate the journey of idea to prototype by providing initial funding assistance

Components of NIDHI 

There are 8 components of NIDHI that support each stage of a budding startup from idea to market.They are as follows

NIDHI GCC – Grand Challenges and Competitions for scouting innovations

Objectives

  • To find & nurture new and innovative solutions for major challenges being faced by  the society that are viable and sustainable.
  • To pickup ideas from untapped sources and convert them into startups.
  • To  generate  better awareness  about entrepreneurship  amongst India’s masses and  reach out to aspiring and existing  entrepreneurs through active media outreach.
  • To  expand the pipeline  of potential incubatees for all TBIs
  • To provide  structured mentoring, guidance, prototyping grants, and seed-funding for ideas applying for such programs.
  • To build a vibrant startup ecosystem, by establishing a network between academia, financial      institutions, industries and other institutions.

 

  • NIDHI – PRomoting and and accelerating Young and Aspiring Innovators and Startups (NIDHI-PRAYAS) – Support from Idea to Prototype

                    Targets and outcome

  • The program would target to facilitate and enable minimum 100 innovators annually across the country in translating their ideas into prototype through funding support to maximum 10 PRAYAS Centres (PC) in the country. It aims to support innovators to build prototypes of their ideas by providing a grant up to Rs.10 lakhs and an access to Fabrication Laboratory (Fab Lab). PRAYAS was launched on 2nd September, 2016.

 

  • NIDHI-Entrepreneur In Residence (NIDHI-EIR)-Support system to reduce risk

              Objectives

  • To encourage graduating student to take to entrepreneurship by providing support as a fellowship.
  • To provide a prestigious forum for deserving and budding entrepreneurs to pursue their ventures without any additional risks involved in technology based businesses.
  • To create, nurture and strengthen a pipeline of entrepreneurs for incubators.
  • To make pursuing entrepreneurship related to a technology business idea more attractive among options available career options.
  • To enable creation of new start – ups by entrepreneurs and significant progress towards raising funding or investment.

 

  • Startup-NIDHI

Through Innovation and Entrepreneurship Development Centres (IEDCs) in academic institutions; encouraging Students to promote start-ups

                 Objectives

  • To  take  forward student  innovations in IEDC /NewGen  IEDC programme to commercialization stage
  • To promote student startups
  • To  accelerate  the journey  of idea to prototype by  providing initial funding assistance

 

  • NIDHI-Technology Business Incubator(TBI)-Converting Innovations to start-ups

                Objectives

  • To create jobs, wealth and businesses aligning with  national priorities.
  • To promote new technology/knowledge/innovation base d startups.
  • To  provide  a platform  for speedy commercialization of  technologies developed by the host institution or by any academic/technical/R&D institution or by an individual.
  • To  build  a vibrant  startup ecosystem,  by establishing a network  between academia, financial institutions, industries and other institutions.
  • To  provide  cost effective,  value added services  to startups like mentoring,  legal, financial, technical, intellectual property related services.

 

  • NIDHI-Accelerator-Fast tracking a start-up through focused intervention

               Objectives

  • To  fast  track the  growth of potential  start ups through rigorous  mentoring and networking support in a short span through existing TBIs
  • To  attract  subject matter  experts, mentors,  and angel investors  get associated with TBIs through the structured accelerator programs
  • To build a vibrant startup ecosystem, by establishing a network between  academia,financial institutions, industries and other institutions.
  • To  act as  a hub for  several incubators  in the region, so that  high-potential startups can be fast-tracked for increased exposure and validation
  • Accelerators should employ a “fail fast” mentality:  ideas or prototypes that are not getting traction should  be abandoned (or modified) quickly, allowing founders to
    redeploy resources to other projects or even new companies at a rapid pace.

 

  • NIDHI-Seed Support System (NIDHI-SSS)-Providing early stage investment

Objective

To  ensure  timely availability of the seed support to the deserving  incubatee startups within an incubator , thereby enabling  them to take their venture to next level and facilitate towards their  success in the market place. The scheme also enables the STEP/TBI to widen their pipeline of startups and also  share the success of their startups which would also result in ensuring their long term operational sustainability

 

  • NIDHI Centres of Excellence (NIDHI-CoE)-A World class facility to help startups go global

            Objectives

  • To promote new technology/knowledge/innovation base d impact making startups.
  • To  provide  cost effective,  value added services  to startups like mentoring,  legal, financial, technical, intellectual property related services.
  • To scale up existing/new activities targeted at seeding and supporting startups.
  • To  provide  a platform  for speedy commercialization of  technologies developed by the host institution or by any academic/technical/R&D institution or by an individual.
  • To  build  a vibrant  startup ecosystem,  by establishing a network  between academia, financial institutions, industries and other institutions.
  • To create jobs, wealth and business in alignment with national priorities


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