NIDHI Initiative Fuels Innovation and Entrepreneurship in India

The NIDHI initiative by India's Department of Science and Technology has led to 1,200 products, 233 patents, and 571 companies since 2016. It has supported 1,074 Entrepreneurs in Residence, creating 3,693 jobs and contributing significantly to the entrepreneurial landscape, especially for women tech leaders.

A government initiative aimed at promoting knowledge-based and technology-driven innovation has resulted in the development of over 1,200 products and prototypes, and the generation of 233 patents.

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

Since its inception in 2016, NIDHI has significantly shaped India's entrepreneurial landscape, playing a pivotal role in nurturing technology startups, with a notable focus on women entrepreneurs.

The EIR Programme under NIDHI aims to inspire top talent to become entrepreneurs by minimizing startup risks and offsetting the opportunity costs of lucrative jobs. The program offers innovative entrepreneurs a platform to expand their networks and receive critical feedback on their ventures, promoting their entrepreneurial career goals and aspirations.

The success of these startups has had a substantial economic impact, reflecting the program's influence on India's growth and self-reliance, according to officials.

Science and Technology Minister Jitendra Singh highlighted that the Department of Science and Technology has established more than 180 incubation centers nationwide, supporting women innovators in building successful tech-based startups.

The NIDHI scheme has introduced 1,288 products to the market, including notable innovations like Atomberg energy-efficient fans and Ather electric bikes.

(With inputs from agencies.)