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Deshpande Startups, NIDHI Prayas
Deshpande Startups, NIDHI Prayas sectors

"Prototyping is a key milestone for any innovator in their journey of building a startup"


To make prototyping easy and affordable for innovators with limited or no financial backing, we provide incubation & prototype funding support to enable faster translation of an innovative idea into a prototype with emerging technology/knowledge/innovation for startups.

We invite Students/Graduates/Professionals/Startups with innovative ideas to apply for a prototyping grant under the NIDHI PRAYAS, an umbrella program of the Department of Science & Technology, Government of India, for nurturing ideas and innovations in the domains of knowledge-based and technology-driven into successful startups.

Deshpande Startups is the largest technology business incubator providing
pre-incubation / incubation support for Innovators and startups.

Announcement

Application opens : Tuesday 28th January 2022

Application closes : Thursday 28th February 2022

Contact details:
M: +91-951-331-5791
E: yuvaprogram@dfmail.org



General Guidelines & Eligibity Criteria

  1. Who is eligible?

    Applicants can be individual innovators or early-stage startups.

    • An individual innovator without having a startup or founder of a startup can apply. In such a case,
      • The applicant must be an Indian Citizen with government-approved proof of nationality with a minimum of 18 years of age, as on the date of application.
      • If the applicant works in a team with other innovators, there must be an agreement among the team about the lead innovator who would apply,
      • All fund transfers will be to the lead innovator’s account post-selection.
      • IP generated would vest with the innovator or the team as per the agreement.

    • In the case of an applicant being a co-founder of a Startup,
      • The applicant must be an Indian citizen with government-approved proof of nationality with a minimum of 18 years of age, as on the date of application.
      • The startup should be incorporated in India with a minimum of 51% of its equity held by Indian citizens. The startup should not exceed 7 years of existence from the incorporation date.
      • The startup should not have received support from any government-funded agency.
      • The startup turnover should be less than Rs. 25 lakhs for any of the financial years since its inception.
      • IP generated is agreeable to be vested with the startup.

    • All selected/approved applicants will have to agree to incubate under respective programs of Deshpande Startups as per its policy/terms for a period of 12 - 14 months.

  2. What is prototype grant?

    It is a support given to develop the hardware prototype for your startup idea. The NIDHI PRAYAS grant is a proof-of-concept grant for converting an idea into a prototype. The ideas should be technology-driven.

  3. What is the duration of the program?

    The program is for a period of 12-14 months, and the prototype must be capable of being completed within a maximum period of 18 months.

  4. Preference Areas

    Preference may be given to the innovators

    • Having bootstrapped or have co-investment commitments having clear roadmap for commercialization or startup creation
    • Women innovators or Young innovators
    • Additional terms for innovators in employment OR Students with any R&D organization OR Academic Institution

  5. Who/What kind of ideas are not eligible?
    • Ideas related to pure software development, e-commerce, service solutions, app-based solutions are not eligible
    • Funding research or student internship in academic institutions or R&D organizations

  6. General Guideline
    • Idea or Innovations should have a roadmap towards commercialization.
    • Screening of applications will usually take 2-4 weeks, from the date of closure of online applications
    • The screening committee's decision for approval and funding support will be final, firm, and binding.

    The innovators in employment or pursuing students must seek the NOC from their organization or institution. The NOC should include:

    • Permission to participate in the program and extend sufficient time to work on the startup idea.
    • The consent that IP generated would vest with the innovator.

Apply Now

We are located at

  Foundation For Sandboxstartup Initiatives, Next to International Airport, Gokul Road,
Opp. to Gokul Village, Hubballi, Karnataka, INDIA - 580030

Deshpande Startups

 +91-968-665-4749

 deshpandestartups@dfmail.org

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