Department of Science and Technology (DST) has announced National Initiative for Developing and Harnessing Innovations (NIDHI) as an umbrella programme for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups. Entrepreneurs-in- Residence (EIR) Programme is one of the programs introduced under NIDHI to inspire the best talents to be entrepreneurs, to minimize the risk involved in pursuing start- ups, and to partially set off their opportunity costs of high paying jobs. The NIDHI-EIR programme provides tremendous opportunities for innovative entrepreneurs to expand their networks and get critical feedback on their ventures in order to promote their entrepreneurial career goals and aspirations.

Objectives of NIDHI-EIR Programme

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

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

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

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

The opportunities under NIDHI-EIR Programme include:

• Guidance from experienced, innovative and highly successful entrepreneurs on the business concept, strategy or venture and insight into specific industries or markets.

• Best practices for starting a business and broaden the professional network.

• Co-working spaces for developing the idea into a marketable product.

The Programme thus encourages enterprising individuals to venture out and pursue daring entrepreneurial ideas as well as enhances the quantity and quality of startups.