Govt approved 6 start-up centres

The Central government has approved six proposals to set up centres of excellence to promote and fund start-ups under the National Initiative for Development and Harnessing Innovation (NIDHI), a programme steered by the Department of Science and Technology.

• The government has earmarked ₹500 crore to scale up the start-up eco system, under which seed funding of up to ₹10 lakh will be given to develop a prototype and access fabrication facilities in incubators.

About NIDHI:

NIDHI (National Initiative for Development and Harnessing Innovations), an umbrella program is pioneered by the Department of Science & Technology(DST) for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups.

• NIDHI focuses on building a seamless and innovation driven entrepreneurial ecosystem especially by channelizing youth towards it and thereby bringing in the positive impact on the socio-economic development of the country.
• The program aims to provide technological solutions not only to the pressing needs of the society but also targets to create new avenues for wealth and job creation.
• NIDHI, by design connects and strengthens all the links of the innovation chain from scouting to sustaining to securing to scaling to showcasing, because a chain is only as strong as its weakest link.
• The key stakeholders of NIDHI includes various departments and ministries of the central government, state governments, academic and R & D institutions, mentors, financial institutions, angel investors, venture capitalists, industry champions and private sectors.
• NIDHI strongly addresses the new national aspirations by massively scaling up DST’s experience of three decades in promoting innovative startups.