FAQs For NIDHI-EIR Aspirants

What is NIDHI-EIR program?

The NIDHI-EIR Program would provide subsistence grant to an aspiring or budding entrepreneur or start-ups less than 2 year old of considerable potential for pursuing a promising technology business idea.

The Programme aims:

  • To encourage graduating student to take to entrepreneurship by providing support as a fellowship.

  • To provide a prestigious forum for deserving and budding entrepreneurs to pursue their ventures without any additional risks involved in technology based businesses.

  • To create, nurture and strengthen a pipeline of entrepreneurs for incubators

  • To make pursuing entrepreneurship related to a technology business idea more attractive among options available career options.

  • To enable creation of new start-ups by entrepreneurs and significant progress towards raising funding or investment.

Who is eligible?

NIDHI-EIR support recipient should fulfil all the following requirements

  • Should be an Indian Citizen

  • Should have completed minimum 4 years of formal full time undergraduate/post graduate education towards one or more degree programme.

  • Should be first generation innovative entrepreneur committed to explore a business idea and has no prior source of income.

  • 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.

  •  NIDHI-EIR support recipient cannot be the promoter or significant (>10%) share holder / beneficiary of another company which is more than 2 year old at the time of applying for and receiving the grant approval

  • Is expected to pursue the entrepreneurial aspirations full time. NIDHI-EIR cannot be concurrent with any other remuneration or fellowship.

  • 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.

  • Click on the following link for more details on eligibility : http://www.venturecenter.co.in/eir/eligibility/

How to apply for NIDHI EIR?

  • Venture Center shall announce the call for NIDHI – EIR program locally.

  • CALL OPEN !

  • All applicants for NIDHI-EIR support grant will apply by filling the online application form and mail the necessary documents.

  • Click on the following link to fill the online application form : https://goo.gl/forms/nHFMD9geMlNdPTrt2

  • Documents to be submitted :

     Appendix 1 : Attach CV or Resume with details of education and work experience, if any

    Appendix 2 : Please attach a concept note of the technology/business idea you propose to pursue

    Appendix 3 : Please attach a note describing the knowledge or technology intensity aspects of the idea. Describe the innovative elements of the idea along with comparisons with previous reports or products available.

    Mail all the following documents to the following Email Id : eir@venturecenter.co.in

  • The selection of the NIDHI-EIR support grantees shall be done by Venture Center through a screening committee and certain qualifying criteria’s.

  • The shortlisted candidates have to present their project proposal in front of the Project Monitoring Committee.

  • The selected NIDHI-EIR shall be informed by the Venture Center.

What will be the duration of NIDHI-EIR support?

  • The duration of support will not be more than 12 months

  • If NIDHI-EIR recipient raises funding or investments for their business ideas/ potential start ups, the grant support shall be discontinued from the date of receipt of the first tranche of funds

  • Venture Center may terminate the support to non-performing NIDHI-EIR recipient even before completion of 12 months

What kind of support will be provided under NIDHI-EIR program?

  • Venture Center shall give all its EIR grantees (who qualify as per basic eligibility criteria) a flat monthly fellowship of Rs 30,000 per month as sustenance fellowship to pursue an entrepreneurial idea for a maximum period of 12 months

  • All EIR grantees will be required compulsorily to subscribe to the “Services Support Package for Fellows” service offering of Venture Center. This will ensure access to basic facilities at Venture Center such as a hot desk, network access, access to shared facilities, IPFACE services, library access etc as per the Fact Sheet of service offering. All EIR grantees will be treated as resident incubatees of Venture Center.

  • EIR grantees may need to arrange their own funds for any additional costs.

 

 Is the information provided by me kept Confidential?

Absolutely, we maintain confidentiality of all the proposals we receive under different schemes. All third party reviewers sign a non disclosure agreement and no conflict agreement before viewing the proposals.

Can I apply again for NIDHI-EIR support?

You can not apply again if you have received NIDHI-EIR support once. However you can reapply if your previous application was not successful.

Can I submit two applications for two different ideas under one call?

Yes, but only one will be finally provided NIDHI-EIR support if selected