About this banking scheme
NIDHI, PRAYAS supports young innovators and startups with funding up to Rs. 10 lakh to develop prototypes. The official listing gives no last date, so check the official portal for the current status before applying.
NIDHI, Promoting and Accelerating Young and Aspiring Innovators and Startups (PRAYAS) is a government scheme aimed at helping young innovators in India. It is managed by the Ministry of Science and Technology.
The scheme provides financial support to turn innovative ideas into working prototypes or proof of concepts. This funding helps in validating technology-based innovations.
Through PRAYAS Centres, applicants gain access to mentorship, technical advice, and incubation facilities. This initiative encourages local innovation and entrepreneurship, aligning with the Atmanirbhar Bharat Mission.
Benefits at a glance
| Scheme name | NIDHI â Promoting and Accelerating Young and Aspiring Innovators and Startups (PRAYAS) (NPAAYASIAS) |
|---|---|
| Launched by | Ministry Of Science And Technology |
| Benefit | Up to Rs. 10 lakh |
| Benefit type | Cash (money paid to your bank account) |
| Category | Banking |
| Level / State | Central ¡ All India |
| Official portal | nidhi-prayas.org (link at the end of this page) |
Key facts
| Scheme type | Centrally Sponsored Scheme |
|---|---|
| Scheme for | Individual |
| Application mode | Online |
| Last date | Not given in the official listing |
| DBT (direct bank transfer) | No |
| Funding Amount | Up to Rs. 10 lakh |
| Age | No lower limit to 5 years |
Who can apply (quick check)
- đ¤All genders
- đAge 0 to 5 years
- đOnline
Quick check from official data. Full conditions are in the Eligibility section.
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Up to Rs. 10 lakh
What you receive
- Funding up to Rs. 10 lakh for prototype development.
The financial assistance is provided directly to the selected innovators or startups. The payment process is not specified, so check the official notification for details.
Who qualifies
- Must be an individual innovator or a DPIIT-recognized startup.
- If a startup, it should be incorporated in India.
- Startup must not be older than 5 years.
- Annual turnover should not exceed Rs. 1 crore.
Who is not eligible
- No specific exclusions mentioned. Individuals without a registered startup may apply but may need to register if selected.
Papers to keep ready
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Registration walkthrough
- Visit the designated PRAYAS Centre or Advance PRAYAS Centre.
- Prepare required documents.
- Submit your application online through the NIDHI, PRAYAS portal.
- Wait for evaluation and response from the PRAYAS Centre.
To check your application status, log in to the NIDHI, PRAYAS portal or contact the respective PRAYAS Centre for assistance.
Real-life examples: are you eligible?
A quick way to gauge your eligibility: find the profile nearest to yours.
Every case differs. Confirm your eligibility on the official portal before applying.
- Not providing a detailed project proposal can lead to rejection.
- Missing required documents like PAN or Aadhaar can cause delays.
- Submitting an incomplete application form may result in disqualification.
- Not adhering to eligibility criteria can lead to automatic rejection.
- Failing to register as a startup after selection may disqualify the applicant from receiving funds.
Frequently asked questions
What is the purpose of the NIDHI, PRAYAS scheme?
It provides funding and support to help innovators develop their ideas into prototypes.
Who can apply for this scheme?
Both individual innovators and DPIIT-recognized startups can apply.
What types of projects are eligible?
The scheme supports technology-based and deep-tech innovations.
Is there a specific sector for this scheme?
No, it is open to innovations from any technology domain.
What can the grant be used for?
The grant can be used for prototype development and related expenses.
How can I apply for the scheme?
Applications are submitted online through designated PRAYAS Centres.
Can I apply without a registered startup?
Yes, individual innovators can apply but may need to register if selected.
How are applications evaluated?
Applications are assessed based on innovation, feasibility, and impact.
Submit your application yourself on the official portal; it costs nothing. Treat anyone demanding money to "get you approved" as a scam.
- Guidelines nidhi.dst.gov.in
- Scheme Details Page No.39 (PDF)
tsmpb.in is not affiliated with any government department. Apply only on the official portal and never pay anyone for an application.
Drafted with AI tools from the official listing. Every number and date is checked automatically against the official text; confirm the details on the official portal before applying.
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