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About NIDHI - EIR program

National Science and Technology Entrepreneurship Development Board (NSTEDB), Government of India supporting Technology Business Incubators is mainly associated with academic and research institutions to leverage technologies and innovations for venture creation. Converting technologies and research into start-up ventures has a long product development and revenue generation time. To inspire the best talents to be entrepreneurs, minimize the risk involved in pursuing start-ups, and to partially set off their opportunity costs of high paying jobs, NSTEDB has introduced NIDHI-Entrepreneurs-in-Residence (EIR) Programme. 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.

Rewards

Benefits for EIR fellows

  • Grant of minimum Rs 10000/- to maximum Rs 30000/- per month for 12 months.
  • Mentorship, Guidance and networking support from IIM Calcutta Innovation Park.
  • Co-working space at IIM Calcutta, Joka Campus.
  • Chance to be inducted as a startup under IIMCIP under its regular incubation programme and get all the benefits post successful completion of EIR program.
  • Additional benefits under IIMCIP umbrella:
    • Support from faculties and mentors, assigned as mentor to individual EIR Fellow in business planning and execution.
    • Provide mentorship and handholding for activities related to IP management, legal and contract, mobilizing resources and other business development related activities.
    • Participation of EIR fellow in any programme organised by IIMCIP.
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Timeline

01 Oct, 2018
Registration Starts
Last Date for Applications
15 Nov, 2018
31 Dec, 2018
Announcement of Shortlisted Candidates
Presentation to Selection Committee
To be declare
To be declare
Final List of Candidates Selected

Programme

The Opportunities under NIDHI-EIR Programme Includes

  • 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.

Objectives of NIDHI-EIR Support Programme

  • 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.

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Eligibility for an NIDHI-EIR support

  • The EIR applicant should be citizen of India.
  • The EIR applicant should have completed. Minimum 4 years of formal full time undergraduate/post graduate education towards one or more degree programme. Basic degree or diploma should be in science or engineering. Or 3 years degree or diploma program and have 2 years full time work experience post degree or diploma. Basic degree or diploma should be in science or engineering.
  • 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.
  • 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.
  • Preference shall be given for a) technology business ideas with larger technology uncertainties and/ or long gestation periods, b) technology business ideas leveraging technology or IP from publicly funded research or academic organizations, c) 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.
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FAQs

The NIDHI-EIR Program would provide subsistence grant to an aspiring or budding entrepreneur 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.

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.
  • Is not a promoter or significant (>10%) share holder / beneficiary of another company 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.

The program shall be executed at selected Technology Business Incubator (TBI). These incubators shall be approved by NSTEDB to serve as Programme Executing Partners operating the NSTEDB's EIR program.

Programme Executing Partner – TBI will

  • Operate the program to increase their pipeline of young entrepreneurs pursuing technology idea.
  • Follow an appropriate mechanism to select the NIDHI-EIRs
  • Periodically review the progress or NIDHI-EIRs.
  • Terminate the support to non-performing NIDHI-EIRs even before completion of 12 months with intimation to PIP/NSTEDB.
  • Submit periodical report, annual Utilization Certificates to Program Implementation Partner (PIP)/NSTEDB as may be required.
  • Maintain the latest data on the status of the program on the portal as per the instruction provided by the PIP/NSTEDB.

Venture Center is the PIP for NIDHI-EIR

The PIP shall be responsible for overall management of the programme. PIP will

  • Invite proposals from qualifying incubators, organise an evaluation process via PMC.
  • Conduct Project Monitoring Committee(PMC), constituted by NSTEDB, with a mandate for selection of the incubators as well as the periodical review of the progress of the programme and suggest mid-course corrections, if required.
  • Submit minutes of the PMC, progress reports and annual utilisation certificates to NSTEDB in a timely manner.
  • The PIP shall also be responsible for tracking the programme and maintaining data on the programme via an online portal.
  • Preference shall be given for
    • Technology business ideas with larger technology uncertainties and/ or long gestation periods,
    • Technology business ideas leveraging 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 support aspirant should submit the application to a PEP of his choice.

  • Duely filled application form
  • Formal business plan for the idea they intend to pursue
  • Business presentation including the investment proposal
  • Proof of citizenship (copy of passport)
  • After the receipt of proposals, Programme Executing Partner – TBI will check the eligibility of each applicant.
  • Applicants who are eligible will then be scrutinised by the expert committee at each Programme Executing Partner – TBI based on certain qualifying criteria’s to select the final recipients 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
  • Programme Executing Partner – TBI may terminate the support to non-performing NIDHI-EIR receipient even before completion of 12 months with intimation to Programme Implementation Partner /NSTEDB.

Support will include:

  • The NIDHI-EIR support recipient will be eligible for grant maximum of Rs.30,000/- per month with a minimum level of Rs.10,000/- per month for a period of 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.
  • As an NIDHI-EIR recipient, an entrepreneur gets office space, administrative support and a stipend to establish/make the most of their ideas and turn innovative breakthroughs into viable businesses. Programme Executing Partner – TBI may charge NIDHI-EIR recipient for providing pre-incubation or resident incubation services.
  • Programme Executing Partner – TBI shall guide and mentor the NIDHI-EIR recipient in business planning and execution.

If you need to know more about our Programme Executing Partners – TBI, please visit their website or contact them.

You may not be an incubatee at the time of application but after receiving NIDHI-EIR support will have to be incubated with the Programme Executing Partner – TBI.

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.

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

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

Partners

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Contact Us

IIM Calcutta, Joka,
Diamond Harbour Road
Kolkata 700104

Disclaimer

  1. The applications received under the program, are subject to due diligence of screening process.  Only shortlisted participants will be notified/ informed about the final presentation to the monitoring committee.
  2. Screening will be subject to the parameters other than the eligibility, such as Innovation, Potential for commercialization and venture creation, Team capability and Commitment etc.
  3. The decision of the screening committee for approval and funding support will be final, firm and binding.
  4. The final decision of screening committee will be communicated only to the approved applicants via email.
  5. The approved applicants will have to agree for Pre incubation/ Incubation with IIMCIP as per its incubation policy/terms.
  6. Screening of applications will take 6-8 weeks, from the date of closure of online applications. Only selected candidates will be notified. No communication from IIMCIP within the time-frame may be deemed as non-selection of your application for the program.
  7. IIMCIP will not provide any suggestion/explanation with regards to the application that are not selected.