NIDHI components - PRAYAS first, Seed Support System final

Q.  Which of the following is/are true regarding NIDHI (National Initiative for Development and Harnessing Innovations)?

1) There are 3 components of NIDHI.
2) The first one is PRAYAS.
- Published on 07 Sep 16

a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2

ANSWER: Only 2
 
  • There are 8 components of NIDHI that support each stage of a budding startup from idea to market.
  • The first component PRAYAS (Promoting and Accelerating Young and Aspiring Innovators & Startups), launched on 2nd September, 2016, aims to support innovators to build prototypes of their ideas by providing a grant up to Rs.10 lakhs and an access to Fabrication Laboratory (Fab Lab).
  • The final component is the Seed Support System which provides up to One Crore rupees per start-up and is implemented through Technology Business Incubators.
  • During the current financial year with a view to drive the innovation and startup centric new initiatives in a scaled up manner for its wider outreach across the country, a 450% increase in allocation (Rs. 180 crores) has been made in the Department’s budget.

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