i. Nidhi Prayas Yojna
WINAXIS Advisory delivers comprehensive 360° business solutions. Our team comprises experienced professionals with a collective experience of over 25 years, cultivating partnerships across both government and private sector entities. We specialize in offering consultation and end-to-end solutions for various government benefits tailored to startups and MSME companies.
Scope of Services
Assessing the startup’s development stage
Crafting a compelling pitch deck
Completing application submissions
Continual follow-up with the incubator
Incorporating feedback
At WINAXIS Advisory, we are dedicated to guiding your business toward success by leveraging our expertise and fostering valuable collaborations.
ii. Nidhi Seed Support:
The NIDHI Seed Support Scheme, also known as Nidhi Prayas Yojna, provides financial assistance to promising startups affiliated with IIMUIC. This initiative aims to facilitate timely access to seed funding for startups with innovative ideas, technologies, and advancements, enabling them to effectively scale their ventures in the market.
Objective:
The NIDHI PRAYAS YOJNA program is dedicated to fostering and accelerating the growth of young and aspiring technology entrepreneurs by nurturing new and inventive concepts into tangible prototypes. Each selected innovative idea and innovator shall receive a prototyping grant of up to Rs. 25,00,000/- (Twenty-Five Lakhs Rupees only), following established rules and regulations.
Eligibility Criteria:
- Technology-driven startups across sectors, demonstrating customer traction and initial revenues.
- Startups must be registered companies in India and, upon successful selection, will undergo incubation with IIMUIC. Following a 3-month incubation period, they will be considered for investment.
- Disbursement of Seed Support will be made to incubate (physical or virtual) startups based on the recommendation of the Seed Support Management Committee, formed by the incubator. Equity Financing will be the investment instrument.
- Indian promoters must hold at least 51% of the shares in the incubated startup.
iii. Nidhi Prayas:
The Nidhi-Prayas Program extends prototype funding to emerging inventors and aspiring entrepreneurs. The Prayas grant catalyzes transforming inventive ideas into tangible product prototypes. Any intellectual property developed during this process remains the property of the innovator or startup. While the maximum funding support for an innovator or startup is 10 lakhs, the final amount is subject to approval by a Prayas Center’s monitoring committee. The selection process is facilitated by the Bhau Institute.
Objective:
Nidhi Prayas Yojna is committed to expediting the journey from idea to market by facilitating the swift prototyping of groundbreaking concepts. The platform is dedicated to bolstering technology, knowledge, and innovation-based startups, offering distinct solutions to local and global challenges. PRAYAS aims to establish a robust network connecting innovators, universities, mentors, and incubators.
Eligibility Criteria:
- Individual inventors, with or without startups, are eligible for a Prayas grant. Individual inventors without startups must be Indian citizens possessing a valid passport or voter’s ID.
- Co-founders of startups seeking PRAYAS support must be Indian citizens, holding a minimum of 51% equity. The startup should not exceed 7 years of age.
- The startup’s annual turnover must not exceed Rs. 25 lakhs for any financial year since inception.
- Prototypes should be feasibly developed within 18 months.
The Prayas grant serves as a proof-of-concept grant, primarily focused on transitioning ideas and innovations into viable prototypes. Products beyond the prototype stage are ineligible for Nidhi-Prayas support.