In the present climate of innovation in India, there is support available for both R&D of ideas and commercialization of products, especially that which is provided by Science and Technology Entrepreneurship Parks (STEPs) and Technology Business Incubators (TBIs) promoted by National Science and Technology Entrepreneurship Development Board (NSTEDB) of Department of Science and Technology (DST), Government of India. However, the primary aim of the STEPs and TBIs is to tap innovations and technologies for venture creation by utilizing expertise and infrastructure already available with the host institution, be it an academic, technical, management institution, or a technology and research park. An early stage prototype/ proof of concept (PoC) fund is needed to be effectively able to convert these technology ideas and innovations into products, and eventually to spur entrepreneurship.The emphasis is to foster indigenously developed innovations and product in alignment with the nation's "AtmaNirbharBharat Mission".

DST-NIDHI’s PRomoting and Accelerating Young and ASpiring technology entrepreneurs (PRAYAS)is specifically to support young innovators turn their ideas into PoC. This support shall allow the innovators to try their ideas without fear of failure, hence allowing them to reach a stage where they have a ready product and are willing to approach incubators for commercialization. NIDHI-PRAYAS a pre-incubation initiative that would be implemented through a Program Management Unit (PMU) and the incubators selected for implementing the PRAYAS progam will be the PRAYAS Centres (PCs). The program will also help incubators source the potential incubatee companies.

Please click here for the scheme document.