Eligibility for an NIDHI – EIR support:
- NIDHI – EIR recipients are expected to be committed to exploring a business idea. Typical NIDHI – EIR needing the support is a first generation innovative entrepreneur, who has no prior source of income. NIDHI – EIR support recipient should not treat this support as a stop gap arrangement to support them in their academic pursuits or transition between jobs.
- NIDHI – EIR seeking the support should demonstrate his ability to build a scalable technology business startup. The background of the NIDHI – EIR needs to be provided in a prescribed format.
- The NIDHI – EIR support recipient should propose one technology business idea in a prescribed format.
- NIDHI – EIR support recipient are expected to pursue their entrepreneurial aspirations full time. NIDHI-EIR cannot be concurrent with any other remuneration or fellowship.
- NIDHI-EIR support recipient cannot be the promoter or significant (>10%) share holder/ beneficiary of another company at the time of applying for and receiving the grant approval
- The NIDHI-EIR should be registered for the pre-incubation or incubation program at the STEP for the entire duration of NIDHI-EIR support.
- Preference shall be given for
- technology business ideas with larger technology uncertainties and/ or long gestation periods,
- technology business ideas leveraging 7 technology or IP from publicly funded research or academic organizations,
- 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.
- NIDHI-EIR seeking support should have a formal business plan for the idea they intend to pursue and a business presentation including the investment proposal.
- Once the NIDHI-EIR raise 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.