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About NIDHI-Entrepreneur-In-Residence (NIDHI-EIR)

National Science and Technology Entrepreneurship Development Board (NSTEDB), Government of India supporting Technology Business Incubators is mainly associated with academic and research institutions to leverage technologies and innovations for venture creation. Converting technologies and research into start-up ventures has a long product development and revenue generation time. To inspire the best talents to be entrepreneurs, minimise the risk involved in pursuing start-ups, and to partially set off their opportunity costs of high paying jobs, NSTEDB has introduced NIDHI-Entrepreneurs-in-Residence (EIR) Programme. 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.

The scheme is managed by Venture Center, NCL, Pune. which will act as a Program Implementing Partner (PIP).






Send the filled in application to vittbi.grants@vit.ac.in

  • To encourage graduating student to take to entrepreneurship by providing support as a fellowship.
  • To provide a prestigious forum for deserving and budding entrepreneurs to pursue their ventures without any additional risks involved in technology based businesses.
  • To create, nurture and strengthen a pipeline of entrepreneurs for incubators
  • To make pursuing entrepreneurship related to a technology business idea more attractive among other available career options.
  • To enable creation of new start-ups by entrepreneurs and significant progress towards raising funding or investment.
Benefits
  • Guidance from experienced, innovative and highly successful entrepreneurs on the business concept, strategy or venture and insight into specific industries or markets.
  • Best practices for starting a business and broaden the professional network.
  • Co-working spaces for developing the idea into a marketable product.
Expected Outcome of the NIDHI-EIR
  • Conversion of at least 30 % of the supported recipient’s ideas into start-up companies.
  • At least 10% of the supported recipients raising funds or investment for his or her company within 18 months of NIDHI-EIR support.

Eligibility for NIDHI-EIR support:

  • NIDHI-EIR recipients are expected to be committed to exploring a business idea. Typical NIDHI-EIR needing the support is a first generation innovative entrepreneur, who has no prior source of income.
  • NIDHI-EIR seeking the support should demonstrate his ability to build a scalable technology business startup.
  • The NIDHI-EIR support recipient should propose one technology business idea in a prescribed format.
  • NIDHI-EIR support recipient are expected to pursue their entrepreneurial aspirations full time. NIDHI-EIR cannot be concurrent with any other remuneration or fellowship.
  • NIDHI-EIR support recipient cannot be the promoter or significant (>10%) share holder / beneficiary of another company at the time of applying for and receiving the grant approval
  • The NIDHI-EIR should be registered for the pre-incubation or incubation program at the TBI for the entire duration of NIDHI-EIR support.
  • Preference shall be given for 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.
  • NIDHI-EIR seeking support should have a formal business plan for the idea they intend to pursue and a business presentation including the investment proposal.
  • Once the NIDHI-EIR raise funding or investments for their business ideas/ potential start ups, the grant support shall be discontinued from the date of receipt of the first tranche of funds.

EiR Grant will NOT support:

NIDHI-EIR support recipient should not treat this support as a stop gap arrangement to support them in their academic pursuits or transition between jobs.

Entrepreneurs pursuing business ideas with no or marginal technology innovation or those with very short journey (i.e less than 6 months) to commercialization are discouraged to apply.

For details, please write to

The Sr.General Manager,
VIT Technology Business Incubator,
Vellore Institute of Technology, Vellore 632014
Email: vittbi.grants@vit.ac.in
Phone: 0416 2202301 / 2303
Mob: +91 9566656777 / +91 9443311367