NIDHI Scheme Fuels 1,200+ Tech Products in India

New Delhi, Sep 6 (PTI) A government initiative to promote knowledge-based and technology-driven innovation has led to the development of over 1,200 products and prototypes and generated 233 patents.

The National Initiative for Developing and Harnessing Innovations (NIDHI) of the Department of Science and Technology, supported 1,074 Entrepreneurs in Residence (EIR) who set up 571 companies which created 3,693 jobs, a report released by S&T Secretary Abhay Karandikar said.

Since its inception in 2016, NIDHI has contributed to India's S&T entrepreneurial landscape and played a crucial role in nurturing technology startups, including a substantial proportion led by women entrepreneurs.

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 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.

These startups have achieved substantial economic success, reflecting the program's impact on India's growth and self-reliance, an official said.

"Through a wide network of more than 180 incubation centres established by DST across the country, women innovators are being supported in their journey to build tech-based successful startups," Science and Technology Minister Jitendra Singh said.

The NIDHI scheme has led to the introduction of 1,288 products in the market, the prominent being Atomberg energy efficient fans and Ather electric bikes.