National Initiative for Developing and Harnessing Innovations (NIDHI) | UPSC CURRENT AFFAIRS |
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National Initiative for Developing and Harnessing Innovations (NIDHI): Current Affairs
National Initiative for Developing and Harnessing Innovations (NIDHI)
Relevance: Government schemes
Context: Under its programme NIDHI4COVID2.0, the Department of Science and Technology (DST) has requested applications from startups and enterprises to develop new technology and innovative solutions to combat the second wave of the Covid-19 pandemic.
More about the NIDHI4COVID2.0
- The National Science and Technology Entrepreneurship Development Board (NSTEDB), which is part of the DST, is in charge of the programme.
- Aim: Support indigenous ideas and innovative goods to fight the pandemic-related issue that the country is presently experiencing.
- Promising companies will be given financial and mentorship assistance in order to help them scale up their goods or technologies.
More about NIDHI
- DST aims to bring momentum and scale to drastically reshape the startup ecosystem in India as part of the Prime Minister’s Startup India initiative. It has committed 500 crores to these new initiatives over the next few years.
- NIDHI is aimed at fostering a seamless and innovation-driven entrepreneurial ecosystem, particularly among the youth, and thereby ushering in its positive impact on the country’s social and economic development.
- The programme aims to create new opportunities for job and income creation in addition to offering technical answers to society’s demands.
- The federal government’s many ministries and departments, state governments, R&D and academic institutions, mentors, angel investors, financial institutions, industry experts and veterans, venture capitalists, and the private sector are all major partners in this project.
- NIDHI considerably expands DST’s three decades of experience in supporting pioneering enterprises in response to the new national goals.
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