Entrepreneurs-in-Residence (EIR) Program is the program introduced under NIDHI scheme to inspire the best talents to be entrepreneurs, to minimize the risk involved in pursuing start- ups, and to partially set off their opportunity costs of high paying jobs. The NIDHI-EIR program 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.
Enabling entrepreneurs in life sciences and med-tech space to translate idea/proof-of-concept – level projects into commercial ventures
Guidance from experienced, innovative and highly successful entrepreneurs.
Best practices for starting a business and broaden the professional network.
The NIDHI-EIR Programme would provide subsistence grant upto Rs.30,000 per month to an aspiring or budding entrepreneur.
Co-working spaces for developing the idea into a marketable product.
Chance to get incubation at TIDES, IIT Roorkee.
Support in activities related to company formation, legality, IP management, and business development.
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 enable creation of new start-ups by entrepreneurs and significant progress towards raising funding or investment.
To make pursuing entrepreneurship related to a technology business idea more attractive among options available career options.
The EIR applicant must be an Indian national.
The EIR applicant should have completed minimum 4 years of formal full time technical undergraduate/post graduate education towards one or more degree programme
NIDHI-EIR recipients are expected to be committed to exploring a business idea.
The NIDHI-EIR support recipient should propose one technology business idea in a prescribed format.
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.
The NIDHI-EIR should be registered for the pre-incubation or incubation program at the TBI for the entire duration of NIDHI-EIR support.
Entrepreneurs exploring business ideas with little to no technological innovation or those with a very short path to commercialization (i.e., less than six months) are discouraged from applying.
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.
12 months extendable up to 18 months in case of deserving candidates subject to approval of the selection committee at respective NIDHI-TBI