Science Department has a 100 crore Plan – NIDHI


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New Delhi: The programme called National Initiative for Developing and Harnessing Innovations (NIDHI) aims at supporting the start-ups in India which lacks financial support. Prime Minister Modi’s Startup India initiative has been helping young startups turn into successful ventures. With the tax exemption policy and ease in getting patents, starting up has indeed become easy.

Here are the things you would like to know about NIDHI:

Also Read: India – A Future Warehouse of the World

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  • In order to support the start-ups in India the department of Science and technology has started with the programme called NIDHI.
  • This programme will be introduced in India for both funding and incubation purposes.
  • The main idea is to fill the gap between idea and prototype funding by introducing various NIDHI schemes and NIDHI Prayas.
  • Ten Prayas centres would be placed to support the incubation centres.
  • NIDHI Seed support system will be helping early start-ups in India.
  • NIDHI Centres of Excellence would help the start-ups to enter the global market.
  • “DST will soon revise the total funding limit to start-ups at supported incubators from Rs.50 Lakh to 1 Crore. The revised investment limit is soon to be implemented,” says the head of the National Science and Technology Entrepreneurship Development Board, Harkesh Mittal.
  • The department provides the seed amount per startup in the form of a grant to the incubator. The incubator in turn invests the same in the form of debt or equity in the companies.
  • DST is already supporting 100 technology-based incubators, is now planning to support more 15-20 incubators.
  • The amount of the incubator would vary according to the type of start-up, city in which it will reside and other factors would also be considered.

NIDHI

Young people with new ideas and no resources are still clueless about starting-up, let alone think about getting into funding and taxes. While there are mechanisms and support available for R&D and also for commercialization, it is the early stage prototyping where the support is currently deficient. NIDHI is trying to overcome this crisis and help the entrepreneurs to explore not only in national market but also in global market.

Also Read: India ranks second in terms of slavery, as per the reports

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Science Department has a 100 crore Plan – NIDHI

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