NIDHI-PRAYAS

NIDHI-PRAYAS (PRomoting and Accelerating Young and Aspiring Innovators & Startups) is a pre-incubation grant provided by the Department of Science & Technology, Government of India, through VentureStudio. It is aimed at helping innovators turn their early-stage ideas into working prototypes by providing financial and infrastructural support.

The scheme is designed to bridge the critical gap between idea and prototype, enabling more aspiring entrepreneurs to enter formal incubation and startup development.

For Individual Innovators:

• Must be an Indian Citizen with valid government-approved proof of nationality (passport, voter's ID)
• Must be at least 18 years of age at the time of application
• For a team of innovators, there must be an agreement about the lead innovator who would apply
• The innovator(s) should have the knowhow of the PRAYAS project

For Startups:

• The company must be less than 7 years old
• Must be incorporated in India with at least 51% equity held by Indian citizens
• Must be wishing to develop a prototype for a new product
• Must have no significant revenue at the time of application
• Must not have annual turnover exceeding ₹25 lakhs for any financial year since inception

For All Applicants:

• The project must involve physical product development
• Must be able to complete the prototype within 12 months
• IP generated should vest with the innovator or startup
• If working with an institution's IP, must get NOC for IP use/transfer/ownership
• If employed or studying, must get a NOC from organization/institution
• Must register for incubation at the TBI for the entire duration
• Must be fully committed to the prototype development

You are not eligible if:

• Have already received significant support (above ₹10 lakhs) from any other government grant for the same idea.
• An incubated startup already receiving support from other DST schemes like NIDHI-SSS.
• Startup is a subsidiary of an MNC or foreign company.
• Application is for scaling, marketing, or manufacturing — PRAYAS is only for prototyping.

• Prototype grant of up to ₹10 lakhs to build ideas into a prototype
• Access to Prayasshala (Fabrication Shop) with state-of-the-art facilities
• Business mentoring from early stages to ensure commercial viability
• Networking and participation in various startup/entrepreneurship-based events
• Co-working spaces for developing ideas into a prototype
• Access to labs, libraries, and technical expertise

• Outsourcing charges for R&D/Design Engineering/Testing
• Raw material/Consumables/Spares
• Fabrication/Synthesis charges of working model or processes
• 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)

• Paying the grantee's relatives
• Paying usage charges to the Technology Business Incubator (TBI)
• Repaying loans or prior commitments
• Paying rent of own accommodation or creating infrastructure facilities like sheds
• Using funds as a stop-gap arrangement to support any other professional pursuits

• The total amount disbursed will be up to a maximum of ₹10 lakhs
• Project term for the PRAYASEE will be up to 12 months, with possible 6-month extension based on progress
• Funds must be used primarily for prototype development/proof of concept
• Regular progress monitoring will be conducted by the PRAYAS monitoring committee
• The innovator can avail NIDHI-PRAYAS support only once
• Cannot avail funding from both NIDHI-PRAYAS and NIDHI-EIR simultaneously

At VentureStudio, NIDHI-PRAYAS is implemented through a milestone-driven approach:

• Application & Selection: Proposals are screened for feasibility, innovation, and relevance.
• Jury Evaluation: Selected applicants pitch to a panel of experts.
• Onboarding: Once selected, innovators sign agreements and submit documentation.
• Milestone Planning: Deliverables and timelines are defined with VentureStudio’s team.
• Fund Disbursement: Tranches are released based on milestone completion and reporting.
• Facility Support: Innovators gain access to Prayas Shala and expert mentors.

VentureStudio is no longer accepting applications for this scheme. Please check back for an update.