Nidhi Prayas Yojna
Nidhi Prayas Yojna
Egniol Financial Services Private Limited provides 360° business solutions. Our team is a blend of more than 25 years of experienced professionals that forge connections and collaborations throughout government and private sector companies. We provide consultation and end to end solutions for all types of government benefits for start-ups & MSME companies.
Scope of Work
- Understanding the stage of the Start-up
- Pitch Deck
- Application filling
- Follow-up from the incubator
Nidhi Seed Support
NIDHI Seed Support Scheme (Nidhi Prayas Yojna) is to give monetary help to the meriting hatched new businesses of IIMUIC with promising ideas, innovation, and advances and guarantee convenient accessibility of the seed backing to empower them to scale their endeavor in the commercial center.
Under initiative the NIDHI PRAYAS YOJNA program (Promoting and Accelerating Young and Aspiring Technology entrepreneurs) focuses on developing new and innovative ideas into prototypes. Each selected innovative idea, and therefore the innovator shall receive a prototyping grant up to Rs.25, 00, 000/- (Rupees Twenty-Five Lakhs only) as per rules and regulations established.
- Technology backed start-ups in any sector with customer traction and initial revenues.
- The start-up should be a registered company in India and based on our selection process will be incubated with IIMUIC and post incubation period of 3 months, will be considered for investment.
- The Seed Support would be disbursed to incubate (physical or Virtual) only based on the recommendation of the Seed Support Management Committee constituted by the incubator. The instrument of investment shall be Equity Financing.
- The share held by Indian promoters in the incubate start-up should be at least 51%.
The Nidhi-Prayas Program provides prototype funding to young and aspiring inventors. The Prayas grant helps innovators turn their ideas into a viable product prototype. Any IP developed should belong to the innovator or startup. The maximum financing support for an innovator/startup is 10 lakhs, although the final amount is subject to approval by a Prayas center's monitoring committee. Bhau Institute will incubate selection process.
Nidhi Prayas Yojna promises to accelerate the idea-to-market path by enabling rapid prototyping of breakthrough ideas. The platform aims to support new technology/knowledge/innovation-based start-ups and provide unique solutions to local and global concerns. The PRAYAS looks forward to developing a network between innovators, universities, mentors, and incubators.
-An individual inventor with or without a start-up can apply for a Prayas grant. An individual inventor without a start-up must be an Indian citizen with a valid passport or voter's ID.
-A co-founder of a start-up seeking for PRAYAS must be an Indian citizen and own at least 51% of the equity. The startup should not be older than 7 years.
-The start-up should not have annual turnover exceeding Rs. 25 lakhs for any of the financial years since its inception.
-Prototype must be capable of being completed within 18 months.
-Prayas grant is Proof-of-concept grant for converting ideas and innovations into a prototype. Proposals for the products having crossed the prototype level are not eligible for support under Nidhi-Prayas.