27-Jul-2022: 604 aspiring entrepreneurs or startups have been supported so far under National Initiative for Developing and Harnessing Innovations (NIDHI)- Entrepreneurs-in-Residence (EIR) program

Union Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh said, 604 aspiring entrepreneurs or startups have been supported so far under National Initiative for Developing and Harnessing Innovations (NIDHI)- Entrepreneurs-in-Residence (EIR) program.

In a statement laid on the table of the Lok Sabha, Dr Jitendra Singh said, the grants have been disbursed in the form of fellowship to the selected aspiring entrepreneurs or startups across the country through a network of 29 Technology Business Incubator (TBIs) who act as a program implementation partner for NIDHI EIR program.

Entrepreneurs-in- Residence (EIR) is the program introduced under the umbrella of National Initiative for Developing and Harnessing Innovations (NIDHI) by Department of Science & Technology (DST) in the financial year 2016-17. This program aims to inspire and provide support to S&T qualified persons who aspire to be an entrepreneur and has an innovative idea. The NIDHI EIR program is positioned as a pre-incubation program to generate new pipeline of entrepreneurs or startups.

The main objective of NIDHI EIR program is to encourage graduating students to take entrepreneurship instead of seeking jobs. The selected NIDHI-EIR support recipient (aspiring entrepreneurs/startups) is eligible for grant up to Rs.30,000/- per month for a period of 12 months. This fellowship is extendable up to 18 months in case of deserving candidates. Since the launch of NIDHI EIR program grant of Rs.19.03 crore has been disbursed to 604 number of aspiring entrepreneur or startups.

2-Sep-2020: NIDHI-EIR Brochure featuring Entrepreneurs in Residence launched

A brochure featuring Entrepreneurs in Residence (EIR) under the National Initiative for Developing and Harnessing Innovations (NIDHI) programme was launched by DST Secretary Professor Ashutosh Sharma at the National Get-Together of NIDHI-EIR Family.

“NIDHI-EIR program is an example of innovative tweaking of the fellowship processes that make it possible to be effective,” said Professor Ashutosh Sharma, Secretary, Department of Science and Technology at the event organized by Venture Centre, the National Implementation Partner for NIDHI- Entrepreneurs-in-Residence (EIR) program of the Department of Science & Technology (DST).

“The goal of achieving Aatmanirbharta starts with translation of knowledge, innovation, capacity building, workforce, Industries, and markets. It is a whole chain starting from the knowledge and goes on to markets. The NIDHI-EIR Program conceived to inspire the S&T qualified youth in India to take up entrepreneurship as a viable career and help shape India's future and the economy,” he added.

Dr. Anita Gupta, Head NSTEDB, elaborated on the success of the NIDHI-EIR program highlighting that the two editions of the EIR program has shown overwhelming impacts and has resulted in 65% conversion into startups.

She added that EIR happens to be the very starting component in the bouquet of programmes offered under NIDHI. In the years to come, it will have a much more fruitful impact. “The current COVID situation has further given us time to facilitate the kind of offering and connect needed with industry to scale up the startup ecosystem,” she pointed out.

The brochure brought out by Venture Center, details what the EIRs are working on and some highlights about them. It is also meant to be a directory of all EIRs. All contributing project execution partners are also featured in the brochure. The brochure also has a summary number of results and impact.

In Round 1 and 2 editions of the NIDHI-EIR program has coordinated with roughly 12 Project Execution Partners (incubators) that host EIR fellows. These 2 rounds of EIR calls had representation from 225 EIR fellows from 22 states of India, 68% of the fellows were below 30 years of age. A total of 146 companies have been formed with 65% conversion to startups, 711 jobs created, 65 patents, 45 trademarks, 19 copyrights created,146 initial prototypes developed. DST’s investment in Round 1 and 2 of the calls amounted to Rs 874 lakhs and follow on funding raised by EIR fellows from non-NIDHI programs is Rs 2300 lakhs.

Entrepreneurs-in-Residence (EIR) Programme under National Initiative for Developing and Harnessing innovations (NIDHI) of Department of Science and Technology supports aspiring or budding entrepreneur of considerable potential for pursuing a promising technology business idea over a period up to 18 months with a subsistence grant up to Rs 30000 per month with a maximum cap for total support of Rs 3.6 lakh to each EIR over a maximum of 18 months. The programme aims to provide guidance to these aspiring entrepreneurs from experienced, innovative and highly successful entrepreneurs on the business concept strategy and insight into specific industries or markets, inspire the best talents to be entrepreneurs, to minimise the risk involved in pursuing start-ups, and to partially set off their opportunity costs of high paying jobs. The NIDHI-EIR 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. This program is important in that it creates a pipeline of startups with a focus on young budding entrepreneurs.