Department of Science and Technology (DST) has announced National Initiative for Developing and Harnessing Innovations (NIDHI) as an umbrella programme for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups. Entrepreneurs-in- Residence (EIR) Programme is one of the programs introduced under NIDHI to 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.The opportunities under NIDHI-EIR Programme include:
- 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.
The Programme thus encourages enterprising individuals to venture out and pursue daring entrepreneurial ideas as well as enhances the quantity and quality of startups.
About DST: Department of Science & Technology (DST) was established in May 1971, with the objective of promoting new areas of Science & Technology and to play the role of a nodal department for organising, coordinating and promoting S&T activities in the country. The department has wide range of activities ranging from promoting high end basic research and development of cutting edge technologies on one hand to service the technological requirements of the common man through development of appropriate skills and technologies. The roles played by DST are varied and these evolved with time. DST is accordingly (a) Develops S&T policies, (b) Strengthens human resources and institutional capacities, (c) Enables development & deployment of technologies, (d) Creates opportunities for societal interventions through S & T & (e) Establishes and engages in mechanisms of cooperation, partnerships & alliances. These approaches that reflect its mission ensure a holistic systemic influence, immediate, medium and long term relevance/ gains. It enables cross cutting impacts across sectors to sustain growth/ development and synergies to optimize on time, human, institutional and financial resources.
About Venture Center: For, NIDHI-EIR, Venture Center is Programme Implementation Partner of NSTEDB.Venture Center is the trademark of Entrepreneurship Development Center, a not-for- profit company hosted by the National Chemical Laboratory, Pune, India. Venture Center is a technology business incubator specializing in technology startups offering products and services exploiting scientific expertise in the areas of materials, chemicals and biological sciences & engineering. Venture Center strives to nucleate and nurture technology and knowledge-based enterprises by leveraging the scientific and engineering competencies of the institutions in the "Pune region" in India. In 2015, Venture Center won National Award for Technology Business Incubation.