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Technology Incubation and Entrepreneurship Development Society (TIEDS) has been established to promote innovation and entrepreneurship in the region, To accomplish its goal, TIEDS runs and manages a Business Incubator called Technology Innovation & Development of Entrepreneurship Support (TIDES) Business Incubator hosted at Indian Institute of Technology, Roorkee, TIDES facilitates incubation of new enterprises with innovative technologies by admitting them at its Incubation Centre and provides physical, technical, financial and networking supports and services.
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NIDHI EIR

NIDHI EIR

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  • Department of Science and Technology (DST) has announced National Initiative for Developing and Harnessing Innovations (NIDHI) as an umbrella programme for nurturing ideas and innovations into successful startups.
  • Entrepreneurs-in- Residence (EIR) Programme is one of the programs introduced under NIDHI 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.

 

OBJECTIVES

  • To encourage graduating students to take to entrepreneurship by providing support as a fellowship.
  • To provide a prestigious forum for entrepreneurs to pursue their ventures without any additional risks involved in technology based businesses.
  • To make pursuing entrepreneurship related to a technology business idea more attractive amongst available career options.
  • To enable creation of new start-ups by entrepreneurs and significant progress towards raising funding or investment.

 

BENEFITS

  • Grant Stipend maximum of Rs.30,000/- per month with a minimum level of Rs.10,000/- per month for a period of 12 months.
  • Office space, administrative support and a stipend to work on their entrepreneurial idea and turn the innovative idea into viable businesses
  • Supports from faculties and mentors, assigned as mentor to individual EIR Fellow in business planning and execution
  • Provide mentorship and handholding for activities related to business development
  • Access to laboratories/ equipments/ workshops/ meetings/ conference halls

 

ELIGIBILITY:

  • The Applicant should be citizen of India.
  • Applicants must have completed basic undergraduate training in natural sciences/engineering/ medicine.
  • Applicant can apply as an individual or as a company.
  • The date of incorporation of Company /LLP should be less than 1 year at the time of applying for the grant, If applying as a company.
  • Essential qualification is PhD/MTech/BTech/BPharm/MD/MBBS/BDS/ MSc / MPhil/ M Des / MPH /MBA / MSW and equivalents, with under‐ graduate training in Science, Medicine, Engineering. Applicants with a BSc degree with at least 1 year of full-time work or research experience shall also be eligible.
  • The EIR is 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 is full time commitment. Cannot be concurrent in any other source of income/ fellowship.
  • 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

Preferences will be given for the following:

  • Women entrepreneurs
  • Innovators under the age of 35
  • Business plan that can result in manufacturing jobs
  • Professionals with relevant work/ industry experience
  • Applicants with a history/ track record of invention/tinkering solutions etc or volunteering with organizations to address/solve problems
  • Calls are invited under 3 categories:

Timeline

  • Application start: 01-Aug-2020.
  • Last date of Application: 21-Aug-2020.
  • Announcement of shortlisted candidates: 02-Sep-2020
  • Start-up Idea Presentation: 12-Sep-2020
  • Announcement of Selected Start-up Ideas: 15-Sep-2020
Note: Dates are tentative

Evaluation Parameters

Innovation

How unique is the innovation as a solution?

Time Frame

Can the innovation be implemented in the given time?

Proof of Concept

The paper idea to be prototyped on a small scale

Market Fit

Is the Founders’ / management’s attitude and intent in the right place?

Market Potential & Scalability

Are the operations scalable and sustainable in the longer term?

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