FAQ

The NIDHI-EIR Program would provide subsistence grant to an aspiring or budding entrepreneur of considerable potential for pursuing a promising technology business idea. The Programme aims:

1. To encourage graduating student to take to entrepreneurship by providing support as a fellowship.
2. To provide a prestigious forum for deserving and budding entrepreneurs to pursue their ventures without any additional risks involved in technology based businesses.
3. To create, nurture and strengthen a pipeline of entrepreneurs for incubators
4. To make pursuing entrepreneurship related to a technology business idea more attractive among options available career options.
5. To enable creation of new start-ups by entrepreneurs and significant progress towards raising funding or investment.

NIDHI-EIR support recipient should fulfil all the following requirements

1. Should be an Indian Citizen
2. Should have completed minimum 4 years of formal full time undergraduate/post graduate education towards one or more degree programme.
3. Should be first generation innovative entrepreneur committed to explore a business idea and has no prior source of income.
4. Should have clear intention of perusing the business idea and setting up a start up to carry it forward and should demonstrate his/her ability to build a scalable technology business startup.
5. Is not a promoter or significant (>10%) share holder / beneficiary of another company at the time of applying for and receiving the grant approval.
6. Is expected to pursue the entrepreneurial aspirations full time. NIDHI-EIR cannot be concurrent with any other remuneration or fellowship.
7. Should be willing to be registered for the pre-incubation or incubation program at the Programme Executing Partner – TBI for the entire duration of NIDHI-EIR support.

The program shall be executed at selected Technology Business Incubator (TBI). These incubators shall be approved by NSTEDB to serve as Programme Executing Partners operating the NSTEDB's EIR program. Programme Executing Partner – TBI will

1. Operate the program to increase their pipeline of young entrepreneurs pursuing technology idea.
2. Follow an appropriate mechanism to select the NIDHI-EIRs
3. Periodically review the progress or NIDHI-EIRs.
4. Terminate the support to non-performing NIDHI-EIRs even before completion of 12 months with intimation to PIP/NSTEDB.
5. Submit periodical report, annual Utilization Certificates to Program Implementation Partner (PIP)/NSTEDB as may be required.
6. Maintain the latest data on the status of the program on the portal as per the instruction provided by the PIP/NSTEDB.

Venture Center is the PIP for NIDHI-EIR The PIP shall be responsible for overall management of the programme. PIP will

1. Invite proposals from qualifying incubators, organise an evaluation process via PMC.
2. Conduct Project Monitoring Committee(PMC), constituted by NSTEDB, with a mandate for selection of the incubators as well as the periodical review of the progress of the programme and suggest mid-course corrections, if required.
3. Submit minutes of the PMC, progress reports and annual utilisation certificates to NSTEDB in a timely manner.
4. The PIP shall also be responsible for tracking the programme and maintaining data on the programme via an online portal.

Preference shall be given for

1. Technology business ideas with larger technology uncertainties and/ or long gestation periods,
2. Technology business ideas leveraging technology or IP from publicly funded research or academic organizations,
3. Technology business ideas with considerable potential for social impact.

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.