Full Form: National Initiative for Developing and Harnessing Innovations. Launched By: Department of Science & Technology (DST) through its Innovation & Entrepreneurship division (NSTEDB). Purpose: To nurture ideas and innovations into successful startups by providing financial support, mentoring, and incubation facilities. Target Audience: Innovators, aspiring entrepreneurs, early-stage startups. Major Components of NIDHI a) NIDHI-PRAYAS (Promoting and Accelerating Young and Aspiring Innovators & Startups) Funding: Up to ₹10 lakh as grant. Purpose: For prototype development and turning ideas into proof-of-concept. Eligibility: Individual innovators or startups less than 2 years old, no prior product commercialization. NIDHI-EIR (Entrepreneur-In-Residence) Funding: Monthly fellowship of ₹10,000–₹30,000 for 12–18 months. Purpose: Supports individuals in pursuing entrepreneurial ideas without worrying about immediate income. Eligibility: Graduate entrepreneurs with innovative ideas, associated with recognized incubators. NIDHI-Seed Support System (NIDHI-SSS) Funding: Up to ₹1 crore per startup. Purpose: To help startups scale up after prototype stage — for product development, testing, market launch. Eligibility: Startups incubated at NIDHI-recognized Technology Business Incubators (TBIs). NIDHI-CoE (Centres of Excellence) Support: Establishes world-class facilities for startups in specific domains. Purpose: Advanced R&D, prototyping, and testing. e) NIDHI-TBI (Technology Business Incubators) Funding to Incubators: ₹3–5 crore for setting up incubation facilities. Purpose: Provides infrastructure, mentoring, and seed support to multiple startups. f) NIDHI-Accelerator Support: Structured accelerator program for growth-stage startups. Includes: Mentoring, market access, investor connects. 3. Why NIDHI Schemes Are Important Non-equity funding (no shareholding given away). Access to government-recognized incubators. Direct support from DST-approved experts and mentors. Helps startups progress from idea → prototype → market → scaling. 4. How to Apply Find a DST/NIDHI-recognized Incubator (like CIIE.CO, SINE-IIT Bombay, IKP Knowledge Park, etc.). Submit Proposal (idea, business plan, budget, timeline). Evaluation by Incubator’s Selection Committee. Funding Release in milestone-based tranches. 5. Bizcore Support We can: Identify the best NIDHI scheme for your stage (PRAYAS, EIR, SSS). Prepare application documents & financial projections. Connect you to approved incubators to fast-track approval. Align your proposal with DST requirements for higher success chances. 💡 Pro Tip: A smart funding path is: Start with NIDHI-PRAYAS (₹10 lakh) → move to NIDHI-Seed Support (₹1 crore) → combine with CGTMSE loan for ₹1–2 crore extra. If you want, I can prepare a Bizcore-branded NIDHI Funding Plan showing exactly how to get from idea stage to ₹1 crore+ funding under NIDHI schemes.
