NIDHI – PRAYAS Program

NIDHI-PRAYAS Program: Empowering Innovators from Idea to Prototype

The NIDHI-PRAYAS Program, part of the National Initiative for Developing and Harnessing Innovations (NIDHI), serves as a vital resource for aspiring entrepreneurs and innovators in India. Aimed at facilitating the transition from innovative ideas to tangible prototypes, this program is crucial for those with limited financial backing. By offering incubation and prototype funding support, NIDHI-PRAYAS is designed to bridge the gap in early-stage funding, enabling quicker translation of concepts into successful startups based on emerging technologies.

Approved by the Department of Science and Technology (DST), Government of India, since March 2020, Deshpande Startups operates as a recognized NIDHI-PRAYAS center. The initiative invites students, graduates, professionals, and startups with innovative ideas to apply for prototyping grants. With funding up to ₹10 lakh, the program seeks to nurture indigenous innovations aligned with the “Atma Nirbhar Bharat Mission,” allowing young innovators to explore their ideas without the fear of failure.

Key Objectives

The primary objectives of the NIDHI-PRAYAS Program include:

• Translation of Ideas: Supporting the conversion of innovative ideas into viable prototypes.
• Fostering Experimentation: Providing a platform for rapid experimentation and adaptive strategies in the journey from idea to market.
• Generating Local Solutions: Encouraging the development of innovative solutions to address both local and global challenges.
• Attracting Young Innovators: Inspiring youth with problem-solving skills to engage in technology or knowledge-driven startups.
• Enhancing Startup Quality: Improving the quality and volume of innovative startups entering incubators.
• Building an Innovation Ecosystem: Establishing a collaborative network among innovators, academia, mentors, and incubators.

Focus Areas

NIDHI-PRAYAS places emphasis on several key domains, including:

1. Life Sciences: Innovations in bio-pharma, med-tech, agri-tech, and more.
2. Industry 4.0: Advents in AI, IoT, machine learning, automation, big data, and cybersecurity.
3. Smart & Clean Mobility: Advances in drone technology, electric vehicles, and sustainable transportation solutions.

By targeting these areas, NIDHI-PRAYAS aims to catalyze a culture of innovation and entrepreneurship within the country. The program also functions as a pre-incubation initiative, providing startups at their nascent stages with necessary mentorship and support to thrive.

In summary, the NIDHI-PRAYAS Program is a significant step toward fostering a vibrant innovation ecosystem in India. By empowering young innovators to transform their ideas into prototypes, it plays a critical role in enhancing the startup landscape and promoting sustainable economic growth. For more information, aspiring innovators are encouraged to visit here.