Transforming Goa into the No.1 ecosystem for everything TourismTech.

Call Us: +91 832 2744000

Mail us for help:

reachus@fiire.org.in

Don Bosco College Campus,

Fatorda, Margao Goa
#NIDHIPRAYAS

NIDHI-PRAYAS

The program caters to idea-stage entrepreneurs with a physical product offering and who require support for prototyping.

About NIDHI-PRAYAS Program

National Initiative for Developing and Harnessing Innovations (NIDHI) is an umbrella program 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 DST-NIDHI initiatives PRAYAS Program (Promoting and Accelerating Young and Aspiring technology entrepreneurs) is specifically to support young innovators turn their ideas into PoC. This support shall allow the innovators to try their ideas without fear of failure, hence allowing them to reach a stage where they have a ready product and are willing to approach incubators for commercialization.
National Initiative for Developing and Harnessing Innovations

Program Benefits

Review process in progress

Applications closed

Objectives Eligibility Criteria Guideline for Usage of funds
  • To enable the translation of an innovative idea to a prototype.
  • To generate innovative solutions relevant to local and global problems.
  • To enhance the pipeline in terms of quality and quantity of innovative start-ups to the incubators.
  • To build a vibrant innovation ecosystem, by establishing a network between innovators, academia, mentors, and incubators.
  • 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:
    -The applicant has to be an Indian Citizen with a government approved proof of nationality such as a valid passport, voter’s id etc.
    -The applicant should be minimum of 18 years of age, as on the date of application.
    -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:
    -The applicant has to be an Indian citizen with a government approved proof of nationality such as a valid passport, voter’s id etc.
    -The applicant should be minimum of 18 years of age, as on the date of application.
    -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.
    -The startup wants to develop the prototype for a new product, for which they have not received support from any other funding agency.
    The startup should not have annual turnover exceeding Rs. 25 lakhs for any of the financial years since its inception.
    -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.
  • 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 -having bootstrapped or have co-investment commitments.
    -having clear roadmap for commercialization or startup creation
    -Women innovators
    -Young innovators
  • 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)
    e. 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.

COHORT 1

FAQ’S

Proof of Concept

We provide financial aid and mentorship to startups in the early stages of ideation. Our aim is to help
entrepreneurs refine their concepts, conduct market research, and develop a robust proof of concept that
demonstrates the potential of their innovative solutions in the tourism industry.

Prototype Development

We support startups in the development of prototypes and minimum viable products (MVPs). Through financial
aid, technical expertise, and industry connections, we enable entrepreneurs to bring their innovative ideas to life,
building functional prototypes that can be tested and validated in real-world scenarios.

Product Trials

We believe in the importance of validating products and solutions in real-market conditions. We provide
financial support to startups for conducting product trials, gathering user feedback, and iterating on their offerings
to ensure they meet the needs and expectations of the tourism industry.

Market Entry and Commercialization

We assist startups in scaling their operations and entering the market successfully. We provide seed funding and
strategic guidance to help entrepreneurs refine their go-to-market strategies, secure partnerships, and establish a
strong presence in the tourism industry.