Nidhi-EIR – Nidhi-EIR Programme

Nidhi EIR Programme

#nidhieirfellowship

Nurturing Budding Entrepreneurs

About the EIR Programme

The NIDHI-EIR Programme is an entrepreneurship fellowship/grant in the form of a stipend to an aspiring or budding entrepreneur with a potential for pursuing a promising technology business idea on a permanent basis.

The programme 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.

Startup Supported Under Nidhi EiR Cohort 1.0

Programme Objectives

Provide a Fellowship

To encourage graduating student to take to entrepreneurship by providing support as a fellowship.

Foster Entrepreneurship

To provide a prestigious forum for deserving and budding entrepreneurs to pursue their ventures without any additional risks involved in technology-based businesses.

Minimize Early-Stage Startup Risks

To make pursuing entrepreneurship related to a technology business idea more attractive among available career options.

Creation of New Venture

To enable creation of new start-ups by entrepreneurs and significant progress towards raising funding or investment.

Programme Benefits

Support

A grant support of INR 10 – 30 K per month for a period of 12 months.

Pre-incubation

Pre-incubation of 10 Fellows with Innovative Technology Business ideas.

Co-working Space

Access to co-working space, common infrastructure, and administrative support.

Funding

Scaleup Funding- Opportunity to pitch for follow-on funding under other programs of the incubation centre, subject to its policies.

Mentoring

Mentoring- Guidance from mentors & experts on developing the idea into a marketable product.

Eligibility Criteria

Applicant should be citizen of India.
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.

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 EIR support recipient should not treat this support as a stop gap arrangement to support them in their academic pursuits or transition between jobs.
EIR applicant seeking the support should demonstrate his ability to build a scalable technology business startup.
EIR support recipient are expected to pursue their entrepreneurial aspirations full time. EIR fellowship cannot be concurrent with any other remuneration or fellowship.
The EIR should be registered for the pre-incubation or incubation program at IIM Udaipur Incubation Centre for the entire duration of support.
NIDHI-EIR applicant seeking support should have a formal business plan for the idea they intend to pursue and a business presentation including the investment proposal.

Applicant and their team members seeking support should not have availed of any NIDHI-EIR grant in the past or similar support previously for the same innovative concept as proposed in this form. NIDHI-EIR can be used only once. If the applicant is found seeking support for the same idea from two different centres, then IIMUIC reserves right to discontinue the EIR support and appropriate action will be taken on the applicant.

Selection Process

Step One

After the receipt of proposals, IIMUIC will check the eligibility of each applicant.

Step Two

Applicants who are eligible will then be scrutinised by the screening committee based on certain qualifying criteria to present before the expert committee. Screening will be subject to the parameters other than the eligibility, such as innovation, potential for commercialization and venture creation, team capability and commitment, etc.

Step Three

Only shortlisted participants will be notified about the final presentation to the expert committee.

Step Four

The decision of the expert committee for approval and funding support will be final, firm and binding. IIMUIC will not provide any clarification/ explanation with regards to the applications that are not selected.

Step Five

The final decision of the expert committee will be communicated only to the approved applicants via email.

Step Six

The approved applicant must register for the pre-incubation or incubation program at IIM Udaipur Incubation Centre for the entire duration of NIDHI-EIR support.

Step One

After the receipt of proposals, IIMUIC will check the eligibility of each applicant.

Step Two

Step Three

Only shortlisted participants will be notified about the final presentation to the expert committee.

Step Four

Step Five

The final decision of the expert committee will be communicated only to the approved applicants via email.

Step Six

The approved applicant must register for the pre-incubation or incubation program at IIM Udaipur Incubation Centre for the entire duration of NIDHI-EIR support.

Testimonials

"Our experience with IIM Udaipur Incubation Centre (IIMUIC) was exceptional. The financial support provided as a monthly stipend helped sustain our operations, while the mentorship from seasoned professionals guided us in refining our business model. We highly recommend IIMUIC to aspiring entrepreneurs looking for a nurturing and empowering environment to accelerate their growth. Thank you to the entire team for believing in us and helping us turn our dreams into reality."

“The NIDHI EiR fellowship has played a pivotal role in my start-up journey. Prior to receiving the grant, I was facing numerous challenges. Financial constraint was a significant obstacle as I had no source of income so could not do full-time work at my start-up. It hindered the growth and development of my start-up. The grant provided by the IIM-Udaipur Incubation Centre alleviated the burden and allowed me to invest in crucial talents and technology which were previously unattainable. The support provided by the IIM Udaipur incubation centre has made a significant difference in our start-up. With their guidance, we built a skilled team and developed our first working prototype. The mentorship and the collaborative environment helped us overcome challenges and refine our concept. We are immensely grateful for the impact the Centre has had on our start-up Journey. One of the aspects that surprised me the most about this experience is the unwavering commitment and dedication of the team at IIM Udaipur Incubation Centre. The personalized attention and tailored guidance I received surpassed my expectations. ”

“Well, NIDHI-EIR is the first support that we got. It accelerated us in building initial proof of concept and prototype units. It might not seem big in wording, but these proof of concept and prototypes have a big impact in terms of demonstrating the solutions to the potential customers and getting LOIs from them. The most surprising part was the punctuality of fund disbursement. We weren't required to follow up even a single time throughout the year for the disbursement of funds. One starts counting on it and thus a testament of strong support.”