Entries are invited from eligible candidates for the NIDHI-Entrepreneur-In-Residence (NIDHI-EIR) Grants 2021.
About the NIDHI – EIR Grant
NIDHI- is the National Initiative for Developing and Harnessing Innovations – an umbrella program conceptualized by the Innovation & Entrepreneurship division of the Department of Science and Technology, Government of India aimed at catapulting INNOVATIONS into START-UPS, which in turn would contribute to the building of an innovation-driven ecosystem to bring about economic development through the creation of wealth.
NIDHI-Entrepreneur-In-Residence (NIDHI-EIR) National Science and Technology Entrepreneurship Development Board (NSTEDB), Government of India supporting Technology Business Incubators is mainly associated with academic and research institutions to leverage technologies and innovations for venture creation.
Converting technologies and research into start-up ventures has a long product development and revenue generation time. To inspire the best talents to be entrepreneurs, minimize the risk involved in pursuing start-ups, and partially set off their opportunity costs of high-paying jobs, NSTEDB has introduced NIDHI-Entrepreneurs-in-Residence (EIR) Programme.
The NIDHI-EIR programme provides tremendous opportunities for innovative entrepreneurs to expand their networks and get critical feedback on their ventures in order to promote their entrepreneurial career goals and aspirations.
Objectives of NIDHI-EIR
The Program aims:
- 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.
The Opportunities Under NIDHI-EIR Programme Includes:
- Guidance from experienced, innovative and highly successful entrepreneurs on the business concept, strategy or venture and insight into specific industries or markets.
- End to end mentoring support from idea validation to business plan drafting.
- Best practices for starting a business and broaden the professional network.
- Office spaces for developing the idea into a marketable product.
- Guidance to apply for government grants of higher TRL, funding network and ecosystem network, and individuals who will support them in their initial startup journey.
- Applicant should be an Indian citizen
- Applicant should have following education background:
- Minimum 4 years of undergraduate/post graduate in the Science or Engineering field.
- 3 years of diploma/ degree in the science or Engineering field with minimum 1-2 years of full time work experience.
Preferences will be given for the following:
- Women entrepreneurs
- Innovators under the age of 35
- Business plan that can result in manufacturing jobs
- Professionals with relevant work/ industry experience
- Applicants with a history/ track record of invention/tinkering solutions etc or volunteering with organizations to address/solve problems
- Uniqueness of the idea
- Differentiators against the competitors
- Domain centric ideas mentioned in the section C
- The NIDHI-EIR support recipient will be eligible for grant maximum of Rs.30, 000/- per month with a minimum level of Rs.10, 000/- per month for a period of 12 months.
- Hence total maximum support to be capped at 3, 60,000 /- for each selected NIDHI- EIR.
- Duration: 12 to 18 months based on the milestones
How to Apply?
Interested applicants can apply for the grant through this link.
Dec 16, 2021