IIT Mandi has announced a new program to incubate startup ideas with a seed funding of INR 50 lakhs. Aspiring entrepreneurs are invited to apply for the next batch of the ‘Start-up Exploration Programme’, which commences in April 2022. The programme is open to Indian nationals with a technology-based innovative start-up idea relating to any sector/focus area, claims the institute.
To apply visit : https://iitmandicatalyst.typeform.com/to/V1MGkg. The last date to apply for the Start-Up Exploration Programme is April 15 2022.
According to the institute the three-month programme, IIT Mandi will provide group mentoring sessions/workshops hosted by industry mentors and experts to help start-ups get in place the basics of building a business.
Furthermore, candidates will gain access to various funding schemes upon completion of the programme. The selection for the programme is a multi-stage process, including the online application, screening, pitching to a selection panel, and final discussion.
The aim 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’, adds the institute.
Dr Puran Singh, faculty in-charge, IIT Mandi catalyst, said, “IIT Mandi Catalyst has a 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.”
IIT Mandi invites aspiring startups to its Mandi
IIT Mandi catalyst is inviting applications from start-ups and aspiring entrepreneurs for the next batch of the ‘Start-up Exploration Programme
Ideas from the following focus areas will be preferred: from Human-Computer Interaction, Building for the Himalayas, and Environment and Sustainability “Successful completion of the Exploration Programme will open doors to various funding opportunities under different schemes available with Catalyst.
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 Rs30,000 under various central and state government-funding schemes. Further, start-ups that achieve validation or show market traction will be moved to phase II of the incubation programme,” claims the institute.