NIDHI EIR Program

The NIDHI Entrepreneur-in-Residence, abbreviated as NIDHI EIR, is an initiative to support aspiring entrepreneurs in bringing their promising technical endeavors to life. This program provides vital subsistence for emerging entrepreneurs through selected DST-approved Technology Business Incubators. Here, we explore the details of this impactful scheme.

About NIDHI

NIDHI was launched by the Department of Science and Technology (DST) as an umbrella program designed to nurture knowledge-based, technology-driven ideas, transforming them into successful startups. In alignment with national priorities, it aims to foster an innovation-driven entrepreneurial ecosystem. The key stakeholders include governmental bodies, academic and R&D institutions, mentors, financial institutions, angel investors, venture capitalists, and the private sector.

Funding and Financial Aspects

The NIDHI-EIR program offers a monthly fellowship of Rs. 30,000 to budding entrepreneurs. This initiative is complemented by the PRAYAS program ("Promoting and Accelerating Young and Aspiring technology entrepreneurs"), granting Rs. 10 lakhs for translating innovative ideas into prototypes. Furthermore, the Technology Business Incubator, acting as a Program Executing Partner (PEP), receives an annual grant of up to Rs. 39.60 lakhs, with Rs. 26 lakhs allocated to this specific initiative.

Objectives of the Program

The NIDHI-EIR program aims to:

Encourage graduates to pursue entrepreneurship by providing fellowships.
Assist promising entrepreneurs in mitigating risks associated with new ventures.
Offer financial support to offset opportunity costs.
Create, nurture, and empower a pipeline of entrepreneurs for incubators.
Facilitate the formation of new establishments by entrepreneurs.

The program targets conversion of at least 30% of its recipients into startup companies, with 10% successfully raising funds or investments within 18 months of support.

Mode of Implementation

The program is implemented through a Program Implementation Partner (PIP). The Entrepreneurship Development Centre in Pune serves as the nodal agency for this initiative. Execution occurs at approved Technology Business Incubators, identified as Program Executing Partners (PEPs). Eligibility criteria for a PIP include:

Non-profit status, with approval and recognition by NSTEDB.
A minimum of three years of operational experience with a proven incubation track record.
Capability to grow and accommodate start-ups.
Minimum of 20 resident incubates.

Eligibility for NIDHI-EIR Support

Beneficiaries must demonstrate a commitment to exploring new ideas as first-generation entrepreneurs, without any existing income sources*. The support cannot serve as a temporary solution between jobs or academic pursuits. Additional eligibility criteria include:

Potential to create a scalable technology business enterprise.
Eligibility for full-time entrepreneurial pursuit.
No affiliation as a promoter or significant shareholder in other companies while receiving the grant.
Avoidance of business ideas lacking technological innovation or with brief commercialization pathways.
Submission of an investment layout accompanying the application.

Once NIDHI-EIR participants secure external funding for their business ideas, the grant support ceases from the first receipt of investment funds.

*For detailed conditions and application procedures, please refer to the official program documentation.

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Frequently Asked Questions

Common questions about NIDHI EIR Program for Aspiring Entrepreneurs.

The NIDHI EIR (Entrepreneur-in-Residence) Program is an initiative created by the Department of Science and Technology (DST) to support aspiring or budding entrepreneurs in pursuing promising technical endeavors. It provides a fellowship of Rs. 30,000 per month to selected entrepreneurs and aims to nurture a pipeline of entrepreneurs for incubators.

The NIDHI EIR support is intended for first-generation entrepreneurs who are committed to exploring new ideas and do not benefit from any income. They should showcase the potential to build a scalable technology business enterprise, propose a business idea, and be involved in full-time entrepreneurial pursuit.

The approved Technology Business Incubators (TBIs) play the role of Program Executing Partners (PEPs) in implementing the NIDHI EIR Program. They receive an annual grant of up to Rs. 39.60 lakhs to facilitate this initiative, out of which Rs. 26 lakhs is utilized for the EIR support.

The objectives of the NIDHI EIR Program include encouraging graduates to pursue entrepreneurship by providing fellowships, assisting deserving entrepreneurs to carry on their ventures without risks, creating and nurturing a pipeline of entrepreneurs for incubators, and facilitating the establishment of new startups.

The NIDHI EIR Program is implemented through Program Implementation Partners (PIPs) and executed at approved Technology Business Incubators (TBIs), which are known as Program Executing Partners (PEPs). The Entrepreneurship Development Centre in Pune has been identified as the nodal agency and PIP for this scheme.

Once a NIDHI EIR entrepreneur raises funds or investments for their business idea or endeavor, the support of grants will be discontinued from the date of receipt of the first tranche of funds. This is to ensure that the support is provided to those in need during the initial stages of their entrepreneurial journey.

Under the NIDHI EIR Program, entrepreneurs receive a fellowship of Rs. 30,000 per month. Additionally, the "Prayas" initiative provides a grant of Rs. 10 lakhs to facilitate the translation of an innovative thought into a prototype.

The NIDHI EIR Program aims to convert at least 30% of the support recipients into startup companies and ensure that at least 10% of the support recipients raise funds or investment for their companies within 18 months of receiving the support.

To become a Program Executing Partner (PEP) for the NIDHI EIR Program, a Technology Business Incubator should be a non-profit incubator approved by NSTEDB, operational for at least three years with a proven track record of incubation, have at least 20 resident incubates, and be capable of accommodating the growth of startups developed through this program.

No, the NIDHI EIR Program is primarily focused on supporting entrepreneurs with technological innovations or ideas. Entrepreneurs carrying out business ideas with little or no technological innovation or with a shorter journey to commercialization are not recommended to be a part of this initiative.