Research Innovation Incubation Design Laboratories (riidl), a not-for-profit organization under Somaiya Trust, supported by NSTEDB, Department of Science & Technology, Government of India, BIRAC, Government of India, MSInS, Government of Maharashtra and Somaiya Vidyavihar University is inviting aspiring entrepreneurs and budding innovators to take up entrepreneurship and support them with funding opportunities through NIDHI PRAYAS and NIDHI EIR.DST-NIDHI’s Promoting and Accelerating Young and Aspiring technology entrepreneurs (PRAYAS) is specifically to support young innovators turn their ideas into Proof of Concept. 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.
NIDHI PRAYAS Grant is up to INR 10 Lakhs per startup/innovator and will be granted for a duration of 12-18 months.
Last date to apply: 20th Feb 2022.
Eligibility: Hardware Startups on the idea stage and want to develop a prototype. For complete eligibility: riidl.org/programs/nidhi_prayas
Application Link: https://riidl.org/NidhiPrayas
National Initiative for Developing and Harnessing Innovations (NIDHI) Entrepreneurs-in-Residence (EIR) Programme is one of the programs introduced under NIDHI to inspire the best talents to be entrepreneurs, to minimize the risk involved in pursuing startups, and to partially set off their opportunity costs of high paying jobs. Graduate students will be provided funding to take up entrepreneurship through a fellowship.
NIDHI EIR Fellowship is INR 30,000 per month per student innovator and will be granted for 12 months.
Last date to apply: 22nd Feb 2022.
Eligibility: Students having completed a four-year graduation program in science or engineering or a three-year diploma in either science or engineering along with two-year full-time work experience are eligible to apply for the NIDHI EIR scheme. For complete eligibility: riidl.org/programs/nidhi_eir
Application Link: https://riidl.org/NidhiEIR
In the last 2 years, riidl.org has supported 11 startups with a total grant funding of INR 100 Lakhs under NIDHI PRAYAS scheme and supported 10 entrepreneurs with a total grant funding of INR 36 Lakhs under NIDHI EIR scheme.
Research Innovation Incubation Design Laboratory Foundation (riidl) is one of India’s leading startup incubators. They have incubated 130+ startups & facilitated in creating 500+ full-time job opportunities with a community of over 5400 makers/innovators while the total valuation of startups is over INR 660.5 Cr.
Gaurang Shetty, Chief Innovation Catalyst, riidl said, “Most entrepreneurs struggle to raise angel or seed funding during the early stage and these grants from NIDHI is like a boon for entrepreneurs in the ecosystem. We, at riidl want to support startups with the NIDHI Prayas and NIDHI EIR grants of the Department of Science and Technology, Government of India, additionally providing access to business mentoring, technical mentoring, early customer access support, virtual incubation, networking & outreach opportunities, and many more.”