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NIDHI PRAYAS Grant Program in India

Deadline: 10-Jan-22

The Association for Innovation Development of Entrepreneurship in Agriculture (a-IDEA), Technology Business Incubator of NAARM has opened the call to invite startups under it’s NIDHI PRAYAS grant in aid scheme with the intent to support promising Agri or Agri-biotech based startups aspiring to grow their innovative ideas and avail support from a-IDEA.

Applications are invited from early stage startups and entrepreneurs with innovative ideas in Agriculture, Agri Allied and Agri – Biotech sectors.

Objectives
  • To enable translation of an innovative idea to a prototype.
  • To provide a platform for faster experimentation and modify approaches in the idea to market journey.
  • To generate innovative solutions relevant to the local and global problems.
  • To attract a large number of youth who demonstrates problem solving zeal and abilities to work on their new technology / knowledge / innovation based start-ups.
  • To enhance the pipeline in terms of quality and quantity of innovative start-ups to the incubators.
  • To build a vibrant innovation ecosystem, by establishing a network between innovators, academia, mentors and incubators
Focus Areas

The focus area of a-IDEA are as follows:

  • ICT & IoT in Agriculture, Precision/Smart Agriculture, Innovative Food Technology, Supply Chain Technology, Post-Harvest Technology, Soil, Water & Weather Technology, Urban/ Vertical Farming, Agri Fintech, Agri-Biotech, Farm Mechanization, Sustainable Inputs, Animal Husbandry, Fisheries and Farm Fresh Retail.

The innovators working on any innovative idea/proof-of-concept/prototype which falls under any of the focus areas are most welcome to apply for NIDHI PRAYAS grant through a-IDEA, NAARM-TBI.

Preference

Preference may be given to the innovators-

  • having bootstrapped or have co-investment commitments.
  • having clear roadmap for commercialization or start up creation
  • Women innovators
  • Young innovators
Eligibility Criteria
  • An individual innovator without having a startup or founder of a startup can apply for Prayas grant.
  • In case of an applicant being an individual innovator without having a startup applying for PRAYAS:
    • The applicant has to be an Indian Citizen with a government approved proof of nationality such as a valid passport, voter’s id etc.
    • The applicant should be minimum of 18 years of age, as on the date of application.
    • If the applicant works in a team with other innovators there has to be an agreement among the team about the lead innovator who would apply, and the funds will be transferred to the lead innovator’s account. IP generated would vest with the innovator or with the team as per the agreement and it would be further taken for commercialization.
  • In case of an applicant being a co-founders of a Startup applying for PRAYAS:
    • The applicant has to be an Indian citizen with a government approved proof of nationality such as a valid passport, voter’s id etc.
    • The applicant should be minimum of 18 years of age, as on the date of application.
    • The startup should be incorporated in India with a minimum 51% of its equity held by Indian citizens. The startup should not be more than 7 years of existence.
    • The startup wants to develop the prototype for a new product, for which they have not received support from any other funding agency.
    • The startup should not have annual turnover exceeding Rs. 25 lakhs for any of the financial years since its inception.
    • IP generated would vest with the start up.
    • PRAYAS grant is Proof-of-concept grant for converting idea and innovations into a prototype. Proposals for the products having crossed the prototype level are not eligible for support under NIDHI-PRAYAS.
    • The ideas and innovations should be based on technology and science.
    • The product prototype has to be a physical product.
    • Applicants can be individual innovators or early stage startups.
    • Applicants will have ownership of the Project knowhow or IP of the proposed products or right to use knowhow or IP if it is owned by a third party.
    • Prototype must be capable of being completed within 18 months.
    • Innovators should have technical skills or background.
    • Idea or Innovations should have a roadmap towards commercialization.
    • The priority technology areas are manufacturing, agriculture, healthcare, clean-tech, energy, water and Internet of Things (IoT). Other technology areas may also be considered on strength or merit of the idea.
Terms and Conditions
  • PRAYAS support is in form of the grant which will be maximum upto Rs.10 lakhs.
  • PRAYAS applications will be subject to Decision of the committee members of the PC where innovator has applied. The decision of approval or rejection or reduced amount by the committee shall remain final and binding on the innovator.
  • The applicant will be fully committed to work towards the prototype development for which the support is being sought with an intention to commercialization.
  • The project duration is 18 months. Prototype has to be completed within maximum 18 months from receiving the first tranche of the grant.
  • For incomplete projects, Prayasee must return unutilized amount of the grant.
  • If innovator has already started a venture, Innovators should assign the IP ownership right to the startups.
  • Innovators or Start-up teams cannot avail NIDHI Prayas Support for more than once nor from more than one Centre. Innovators shall also not be supported in parallel under NIDHI-EIR and NIDHI-Prayas. Innovators will give declaration at the time of making application indicating that they have not received support under NIDHI-PRAYAS for the same idea or NIDHI-EIR

For more information, visit a-IDEA.

For more information, visit https://aidea.naarm.org.in/nidhi-prayas/