Eligibility Criteria

Eligibility for an NIDHI – EIR support:

1. 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.
2. 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.
3. The NIDHI – EIR support recipient should propose one technology business idea in a prescribed format.
4. NIDHI – EIR support recipient are expected to pursue their entrepreneurial aspirations full time. NIDHI-EIR cannot be concurrent with any other remuneration or fellowship.
5. 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
6. The NIDHI-EIR should be registered for the pre-incubation or incubation program at the STEP for the entire duration of NIDHI-EIR support.
7. 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 year full time work experience post degree or diploma. Basic degree or diploma should be in science or engineering

8. 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.

9. 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.
10. 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.
11. 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.