Detailed Solution:
The correct answer is “Both 1 and 2”.
The NIDHI-PRAYAS program is a pre-incubation initiative launched by the Department of Science and Technology to support students in converting their innovative ideas into prototype.
Under this program, financial support of up to Rs. 10 lakhs is provided to selected startups to develop their prototypes.
The program aims to support up to 20 student startups every year. Therefore, both statements are correct for the NIDHI-PRAYAS program.