NIDHI-EIR Brochure featuring Entrepreneurs in Residence launched

News: The Department of Science & Technology(DST) secretary has launched a brochure featuring Entrepreneurs in Residence(EIR) under the National Initiative for Developing and Harnessing Innovations (NIDHI) programme.

Facts:

• Entrepreneurs in Residence(EIR) Programme: It is one of the sub-programs introduced under the National Initiative for Developing and Harnessing Innovations(NIDHI) programme.
• Aim: 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.
• Nodal Department: Department of Science and Technology.
• Funding: It supports aspiring or budding entrepreneurs of considerable potential for pursuing a promising technology business idea over a period up to 18 months with a subsistence grant up to Rs 30,000 per month with a maximum cap for total support of Rs 3.6 lakh.

Additional Facts:

• NIDHI: It was launched by the Department of Science and Technology as an umbrella scheme to support ideas and innovations (knowledge-based and technology-driven) into successful startups.