About the EIR Programme
The NIDHI-EIR Programme is an entrepreneurship fellowship/grant in the form of a stipend to an aspiring or budding entrepreneur with a potential for pursuing a promising technology business idea on a permanent basis.
The 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.
Startup Supported Under Nidhi EiR Cohort 1.0
Programme Objectives
Provide a Fellowship
To encourage graduating student to take to entrepreneurship by providing support as a fellowship.
Foster Entrepreneurship
To provide a prestigious forum for deserving and budding entrepreneurs to pursue their ventures without any additional risks involved in technology-based businesses.
Minimize Early-Stage Startup Risks
To make pursuing entrepreneurship related to a technology business idea more attractive among available career options.
Creation of New Venture
To enable creation of new start-ups by entrepreneurs and significant progress towards raising funding or investment.
Programme Benefits
Support
A grant support of INR 10 – 30 K per month for a period of 12 months.
Pre-incubation
Pre-incubation of 10 Fellows with Innovative Technology Business ideas.
Co-working Space
Access to co-working space, common infrastructure, and administrative support.
Funding
Scaleup Funding- Opportunity to pitch for follow-on funding under other programs of the incubation centre, subject to its policies.
Mentoring
Mentoring- Guidance from mentors & experts on developing the idea into a marketable product.
Eligibility Criteria
- Applicant should be citizen of India.
- 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-year full time work experience post degree or diploma. Basic degree or diploma should be in science or engineering.
- 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.
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.
- The EIR support recipient should not treat this support as a stop gap arrangement to support them in their academic pursuits or transition between jobs.
- EIR applicant seeking the support should demonstrate his ability to build a scalable technology business startup.
- EIR support recipient are expected to pursue their entrepreneurial aspirations full time. EIR fellowship cannot be concurrent with any other remuneration or fellowship.
- The EIR should be registered for the pre-incubation or incubation program at IIM Udaipur Incubation Centre for the entire duration of support.
- NIDHI-EIR applicant seeking support should have a formal business plan for the idea they intend to pursue and a business presentation including the investment proposal.
- Applicant and their team members seeking support should not have availed of any NIDHI-EIR grant in the past or similar support previously for the same innovative concept as proposed in this form. NIDHI-EIR can be used only once. If the applicant is found seeking support for the same idea from two different centres, then IIMUIC reserves right to discontinue the EIR support and appropriate action will be taken on the applicant.
Selection Process
Selection Process
Step One
After the receipt of proposals, IIMUIC will check the eligibility of each applicant.
Step Two
Applicants who are eligible will then be scrutinised by the screening committee based on certain qualifying criteria to present before the expert committee. 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.
Step Three
Only shortlisted participants will be notified about the final presentation to the expert committee.
Step Four
The decision of the expert committee for approval and funding support will be final, firm and binding. IIMUIC will not provide any clarification/ explanation with regards to the applications that are not selected.
Step Five
The final decision of the expert committee will be communicated only to the approved applicants via email.
Step Six
The approved applicant must register for the pre-incubation or incubation program at IIM Udaipur Incubation Centre for the entire duration of NIDHI-EIR support.
Step One
After the receipt of proposals, IIMUIC will check the eligibility of each applicant.
Step Two
Applicants who are eligible will then be scrutinised by the screening committee based on certain qualifying criteria to present before the expert committee. 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.
Step Three
Only shortlisted participants will be notified about the final presentation to the expert committee.