ABOUT NIDHI-EIR

KIET-Technology Business Incubator is one of the 10 approved NIDHI-EIR centres by National Science & Technology Entrepreneurship Development Board (NSTEDB), Govt of India. 10 startups incubators had been selected as Program Execution Partners under NIDHI-EIR program from all over India and KIET-TBI is one of them as PEP. The NIDHI-EIR Programme would provide subsistence grant upto Rs.30,000 per month to an aspiring or budding entrepreneur of considerable potential for pursuing a promising technology business idea.

OBJECTIVE OF NIDHI-EIR

National Science and Technology Entrepreneurship Development Board (NSTEDB), Government of India supporting Technology Business Incubators is mainly associated with academic and research institutions to leverage technologies and innovations for venture creation. Converting technologies and research into start-up ventures has a long product development and revenue generation time. To inspire the best talents to be entrepreneurs, minimize the risk involved in pursuing start-ups, and to partially set off their opportunity costs of high paying jobs, NSTEDB has introduced NIDHI-Entrepreneurs-in-Residence (EIR) Programme.

BENEFITS

1. Aspirants will receive monthly fellowship of maximum of Rs.30,000/- per month for a period of twelve months. Grant amount can vary between Rs.20,000 to Rs.30,000 depending on the quality of the start-up.
2. Aspirants will be given mentorship and handholding for activities related to IP management, legal and contract, mobilizing resources and other business development.

FUNDING

The KIET-TBI under NIDHI-EIR support recipient (EIR) will be eligible for fellowship maximum of Rs.30,000/- per month with a minimum level of Rs.20,000/- per month for a period of 12 months. KIET-TBI will evaluate the applications according to the guidelines set by NSTEDB.

ELIGIBILITY

1. The EIR applicant should be citizen of India. An Indian citizen is defined as one who is in possession of a government approved proof of nationality such as a valid passport, voter’s id etc.
2. The EIR applicant should have completed
   • Minimum 4 years of formal full time undergraduate/post graduate education towards one or more degree program. Basic degree or diploma should be in science or engineering.      OR
   • 3 years degree or diploma program and have 2 year full time work experience post degree or diploma. Basic degree or diploma should be in science or engineering.
3. The EIR is expected to be committed to exploring a business idea. Typical NIDHI-EIR needing the support is a first generation innovative entrepreneur, who has no prior source of income. NIDHI-EIR support recipient should not treat this support as a stop gap arrangement to support them in their academic pursuits or transition between jobs.
4. NIDHI-EIR seeking the support should demonstrate his ability to build a scalable technology business startup. The background of the NIDHI-EIR needs to be provided in a prescribed format.
5. Funding under NIDHI EIR Call 3 is divided under three heads namely – EIRs from General Category; EIRs from SC category and EIRs from ST category. Candidates applying under the SC and ST categories should provide a caste certificate as will be requested by the PEP at the time of application..
6. The NIDHI-EIR support recipient should propose one technology business idea in a prescribed format.
7. NIDHI-EIR support recipient are expected to pursue their entrepreneurial aspirations full time. NIDHI-EIR cannot be concurrent with any other remuneration or fellowship.
8. NIDHI-EIR support recipient cannot be the promoter or significant (>10%) share holder / beneficiary of another company at the time of applying for and receiving the grant approval
9. The NIDHI-EIR should be registered for the pre-incubation or incubation program at the TBI for the entire duration of NIDHI-EIR support.
10. Preference shall be given for a) technology business ideas with larger technology uncertainties and/ or long gestation periods, b) technology business ideas leveraging technology or IP from publicly funded research or academic organizations, c) technology business ideas with considerable potential for social impact.
11. Entrepreneurs pursuing business ideas with no or marginal technology innovation or those with very short journey (i.e less than 6 months) to commercialization are discouraged to apply.
12. NIDHI-EIR seeking support should have a formal business plan for the idea they intend to pursue and a business presentation including the investment proposal.

NON-ELIGIBILITY FOR THE PROGRAMME

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

DESIRED OUTCOME FOR THE PROGRAMME

The outcome of the PRAYAS programme will be analysed based on the following parameters. 60% of the innovators:

• Should have the working prototype within 18 months.
• Progress towards IP filing, commercialization in form of licensing or Start-up.
• Funding/ Investment received.
• Expression of interest from manufactures.