Closing Date: 15-Dec-2018 I Reward: Entrepreneur support
Nidhi-Prayas: In the current climate of innovation in India, there is support for the R & D of ideas and the marketing of products, especially for those provided by STEPs and TBIs promoted by NESTEDB of DST. However, the main objective of STEPs and TBIs is to take advantage of innovations and technologies for business creation by using the expertise and infrastructure already available from the host institution, whether it is act as a university, technical or management institution, or a technology and research park.
There is a profound lack of support for early stage prototyping in the country, which has led many innovators to lose interest in their projects in the absence of support at this critical time. Even start-up financing mechanisms in STEPs and BITs, although funded internally or by the government, tend to be more focused on marketing and the market side of the joint venture, rather than the development of the remaining intellectual sides of startups and incubator clients.
It is absolutely necessary to close the gap early in the financing of ideas / proofs of concept. Promoting and Accelerating Young Entrepreneurs and Technology Entrepreneurs (PRAYAS) is one of nine programs specifically designed to help young innovators turn ideas into proofs of concepts. This support will allow innovators to try their ideas without fear of failure, allowing them to reach the stage where they will have a ready-to-use product and will be willing to move closer to incubators for commercialization. NIDHI-PRAYAS can therefore be considered as a pre-incubation initiative and a source of development for incubators.
A joint venture of Kongu Engineering College and Department of Science and Technology, Government of IndiaA Rs.44 million projectFirst of its kind in IndiaA golden opportunity for the entrepreneur aspirants to convert their ideas into products in emerging technology areas.
For more details visit the contest link below:
Contest link: www.tbi-kec.org
Category of contest: Entrepreneurship contest