Vagisha Kaushik|Jun 24, 2022
IIT Mandi calls for applications for start-up exploration programme
IIT Mandi: The incubator has seed funding of up to Rs 50 lakhs, prototyping funding of up to Rs 10 lakh. The application deadline is April 15, 2022.
Mandi: The Indian Institute of Technology (IIT) Mandi Catalyst is inviting applications from start-ups and aspiring entrepreneurs for the next batch of the Start-up Exploration Programme, which begins in April 2022.
“The objective of this programme is to help technology-based ideas/start-ups achieve concept validation and prove market potential. This is the twelfth batch of the Start-up Exploration Programme,” the institute said.
“In the past five years, Catalyst has supported around 227 startups in the exploration program and out of which 125 startups have been funded under various funding schemes available with catalyst,” it said.
The incubator has seed funding of up to Rs 50 lakhs, prototyping funding of up to Rs 10 lakh, and an entrepreneur-in-residence programme, with monthly support of Rs 30,000 under various central and state government-funding schemes.
The institute said that the ideas from human-computer interaction, building for the Himalayas, environment and sustainability will be preferred.
The selection is a multi-stage process, including online application, screening, pitching to a selection panel, and final discussion. The programme is open to Indian nationals with a technology-based innovative start-up idea relating to any sector.
Start-ups that achieve validation or show market traction are moved to phase II of the incubation programme, it added.
Puran Singh, faculty in-charge, IIT Mandi Catalyst, said, “IIT Mandi Catalyst has the mandate to support as many as 100 startups this year. The exploration program is most suited for startups in early stages looking for idea validating and prototype development.”
The three-month virtual programme will offer start-ups
- A structured training programme during which they will set goals they wish to achieve during the three months.
- Group mentoring sessions/workshops conducted by industry mentors and experts to help start-ups get in place the basics of building a business.
- Workshops will cover aspects ranging from business strategy to legal and financial issues.
- Monthly checkpoint meetings to assess progress and identify areas where support is required.
- Mentoring sessions, one-on-one.
- Access to various funding schemes upon completion of the programme.
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