Innovation is the cornerstone of progress, and nurturing it is key to building a brighter future. The Amrita Technology Business Incubator (Amrita TBI), a non-profit startup incubator supported by the Government of India and Amrita Vishwa Vidyapeetham, is playing a vital role in fostering innovation and entrepreneurship in India.
Recognized as one of the Top-5 most prolific startup incubators in the country by The Economic Times, Amrita TBI has a legacy of empowering entrepreneurs. In 2017, it was awarded the National Award for being the Best Startup Incubator in India. Adding to its accolades, it is now an approved NIDHI-PRAYAS Centre under the National Science & Technology Entrepreneurship Development Board (NSTEDB), Government of India.
What is NIDHI-PRAYAS?
The NIDHI-PRAYAS (National Initiative for Developing and Harnessing Innovations – PRomoting and Accelerating Young and Aspiring innovators & Startups) program aims to support aspiring innovators and startups by providing them with the financial assistance to turn their ideas into prototypes.
Under this initiative, selected innovators (NIDHI-PRAYASEEs) can receive grants of up to INR 10 Lakhs, along with access to state-of-the-art infrastructure, mentorship, and Amrita TBI’s incubation benefits.
Why Choose Amrita TBI for NIDHI-PRAYAS?
Shri Amitabh Kant, CEO of NITI Aayog, describes Amrita TBI as the “rarest of the rare among the various startup incubators in India.” The incubator stands out due to its commitment to nurturing innovation through funding, mentorship, and infrastructure.
Key Benefits for NIDHI-PRAYASEEs
- Funding to Build Prototypes
- Grants of up to INR 10 Lakhs.
- Close monitoring of milestones with periodic progress reviews.
- Mentorship
- Access to a robust mentorship program featuring national and international experts from Silicon Valley and Singapore.
- Co-working and Incubation Facilities
- State-of-the-art coworking spaces in Kollam, Bengaluru, and Coimbatore.
- Access to over 100 multidisciplinary labs at Amrita Vishwa Vidyapeetham.
- Support Services and Perks
- $1,000 AWS credits for all incubated startups and $5,000 AWS credits for funded startups.
- Discounts of up to 20% on accounting, legal, and other services.
- GST exemption for revenue up to INR 50 Lakhs per year for three years.
- Networking Opportunities
- Access to a network of venture capitalists (VCs) and angel investors for scaling.
- Focus on Women and Young Innovators
- Preference for women innovators and young entrepreneurs.
Who Can Apply?
To qualify for NIDHI-PRAYAS, applicants must meet the following criteria:
- Citizenship: Must be an Indian citizen aged 18 years or older.
- Single Applicant: Teams can collaborate, but the financial support is granted to a single applicant.
- Exclusions: Professors, academicians, and students engaged in long-term research projects are ineligible.
Key Dates and Focus Areas
- Grant Outlay: Total funding of INR 1 Crore available.
- Application Deadline: 8th December 2024.
Preference will be given to innovators with:
- Bootstrapped ventures or co-investment commitments.
- A clear roadmap for commercialization.
- Solutions in technology, healthcare, sustainability, and other transformative domains.
Building the Future Together
With the rise of India’s entrepreneurial spirit, programs like NIDHI-PRAYAS act as catalysts for transforming ideas into impactful solutions. As highlighted by Amrita TBI’s success stories, the journey from idea to market is made possible through a blend of resources, mentorship, and grit.
If you are an innovator or aspiring entrepreneur, this is your chance to bring your ideas to life. Apply today and become part of a community that’s shaping the future of innovation.
How to Apply
To learn more and apply, visit Amrita TBI NIDHI-PRAYAS before the 8th December 2024 deadline.
Join the innovation revolution—your prototype could be the next big leap in technology!
