SSIIE-TBI

SSIIE technology Business Incubator Prayas Centre @SPMVV,Tirupati

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 & start-ups (NIDHI-prayas) program. The program caters to idea-stage entrepreneurs with a physical product offering, who require support for prototyping. Under this scheme, the innovators will be facilitated with access to physical infrastructure, technical guidance, fabrication labs, networking, business mentorship etc. SSIIE Technology Business Incubator is a prayas Centre under the scheme managed by the Society for Innovation and Entrepreneurship (SINE) IIT Bombay, which will act as a Program Management Unit (PMU) of the prayas program. The lack of support for early stage prototyping in the country has been the cause for many innovators to lose interest in their ventures and there is a definite need to address the gap in the very early stage of idea formation, associated technology development, proof of concept, prototyping, IPR etc. With NIDHI prayas, young entrepreneurs will have support to develop their technology prototype/product and will be able to approach incubators for scale up and commercialization support. Hence all selected NIDHI-prayas applicants to the SSIIETBI prayas Centre will be considered for support under the Pre-incubation / Business Incubation support at SSIIE TBI based on the maturity of the idea and execution capability of the applicant. NIDHI prayas program will provide funding support for converting innovative ideas into prototypes.

OBJECTIVES:

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 the local and global problems.
To attract a large number of youth who demonstrates problem solving zeal and abilities
To work on their 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.

BENEFITS:

Grant up to Rs.10 lakhs for converting his/ her innovative idea into prototype within 18 months.
Access to infrastructure, prototype development facility and strategic mentorship. Shared common facilities & Co-working space.

ELIGIBILITY CRITERIA:

An individual innovator without having a Startup or founder of a Startup can apply for Prayas grant.
In case of an applicant being an individual innovator without having a Startup applying for PRAYAS:
1. The applicant has to be an Indian Citizen with a government approved proof of nationality such as a valid passport, voter’s id etc.
2. The applicant should be minimum of 18 years of age, as on the date of application.
3. If the applicant works in a team with other innovators there has to be an agreement among the team about the lead innovator who would apply, and the funds will be transferred to the lead innovator’s account (after selection). IP generated would vest with the innovator or with the team as per the agreement and it would be further taken for commercialization.
In case of an applicant being a co-founders of a Startup applying for PRAYAS:
1. The applicant has to be an Indian citizen with a government approved proof of nationality such as a valid passport, voter’s id etc.
2. The applicant should be minimum of 18 years of age, as on the date of application.
3. The startup should be incorporated in India with a minimum 51% of its equity held by Indian citizens. The startup should not be more than 7 years of existence.
4. The startup wants to develop the prototype for a new product, for which they have not received support from any other funding agency.
5. The startup should not have annual turnover exceeding Rs. 25 lakhs for any of the financial years since its inception.
6. IP generated would vest with the start up.
PRAYAS grant is Proof-of-concept grant for converting idea and innovations into a prototype. Proposals for the products having crossed the prototype level are not eligible for support under NIDHI-PRAYAS.
The ideas and innovations should be based on technology and science.
The product prototype has to be a physical product.
Applicants can be individual innovators or early stage startups.
Applicants will have ownership of the Project knowhow or IP of the proposed products or right to use knowhow or IP if it is owned by a third party.
Prototype must be capable of being completed within 18 months.
Innovators should have technical skills or background.
Idea or Innovations should have a roadmap towards commercialization.
The priority technology areas are manufacturing, agriculture, healthcare, clean-tech, energy, water and Internet of Things (IoT). Other technology areas may also be considered on strength or merit of the idea.
Preference may be given to the innovators-
1. having bootstrapped or have co-investment commitments.
2. having clear roadmap for commercialization or start up creation.
3. Women innovators
4. Young innovators

Additional terms for innovators in employment OR Students with any R&D organisation OR Academic Institution

The innovators in employment or pursuing students have to seek the NOC from their organisation or institution. The NOC should include:

Permission to apply for PRAYAS and extending sufficient time to work on the PRAYAS project.
Permission that IP generated would vest with the innovator.

Notwithstanding the above, the followings will not be considered under NIDHI-PRAYAS

Projects related to Pure Software development, e-Commerce, Service solutions, App based solutions.
Funding research or student internship in Academic institutions or R& D organisations.

Guidelines for Usage of funds

Outsourcing Charges for R & D/Design Engg./Consultancy/Testing/Expert cost
Raw material/ Consumables/Spares
Fabrication /Synthesis charges of working model or process
Business Travel and Event Participation Fees (Ceiling 10% of approved project cost)
Patent filing Cost – (PCT- Ceiling 10% of approved project cost)
Contingency - (Ceiling 10% of approved project cost)

It will not be used:

To pay the grantee or their relatives.
To repay pre-existing loans or commitments of the innovator.
To pay usage charges to the Incubator from the PRAYAS grant. Grantee can use other funds to pay any such charges, if any.
To pay rent of own accommodation, creation of infrastructure facility like shed etc.
As a stop gap arrangement to support any other professional pursuits.

Terms and Conditions

PRAYAS support is in form of the grant which will be maximum upto Rs.10 lakhs.
PRAYAS applications will be subject to Decision of the committee members of the PC where innovator has applied. The decision of approval or rejection or reduced amount by the committee shall remain final and binding on the innovator.
The applicant will be fully committed to work towards the prototype development for which the support is being sought with an intention to commercialization.
The project duration is 18 months. Prototype has to be completed within maximum 18 months from receiving the first tranche of the grant.
For incomplete projects, Prayasee must return unutilized amount of the grant.
If innovator has already started a venture, Innovators should assign the IP ownership right to the startups.
Innovators or Start-up teams cannot avail NIDHI Prayas Support for more than once nor from more than one Centre. Innovators shall also not be supported in parallel under NIDHI-EIR and NIDHI-Prayas. Innovators will give declaration at the time of making application indicating that they have not received support under NIDHI-PRAYAS for the same idea or NIDHI-EIR

GRANT WILL NOT SUPPORT

Student applicants pursuing long term research projects like doctoral research projects or similar projects will not be supported.
Professors or Academicians engaged in teaching with any academic or R&D institute.
The projects relating to software development and those involving pure academic research are not eligible.

Mandate

If the innovator is pursuing to build a prototype from their institute/organization IP, then innovator will take NOC from the appropriate authority of their institute/organisation for use/IP transfer / ownership in favour of the innovator/startup.
If the applicant is studying /working in an institute/organization, then a No objection certificate (NOC) from that respective institute/organization need to be submitted for applying to NIDHI prayas.
The NIDHI-prayas grantee should be registered for the pre-incubation or incubation program at SSIIE-TBI for the entire duration of the program, after going through the TBI’s selection process.
NIDHI-prayas grantee should be fully committed to work towards the prototype development for which the support is being sought and should not treat this as a stop gap arrangement to support any other pursuits.
The innovator can avail the NIDHI-prayas support only once and they should not have sought the similar support previously, from other Government of India organisation/Institution for the same innovative concept as proposed in the application form.