IIT-Mandi invites applications from startups for innovation challenge, grant up to Rs 16 lakhhttps://indianexpress.com/article/jobs/iit-mandi-invites-applications-from-startups-for-innovation-challenge-grant-up-to-rs-16-lakh-5688215/

IIT-Mandi invites applications from startups for innovation challenge, grant up to Rs 16 lakh

IIT-Mandi's Catalyst will support and enable willing innovators, entrepreneurs or aspiring/ set-up startups to develop prototypes, test and take them to the market in the Himalayan region with a viable business plan. Individual price up to Rs 1 lakh and grant up to Rs 16 lakh will be bestowed.

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Individual, group, startup entries allowed. (Thinkstock.com)

The Indian Institute of Technology (IIT) Mandi’s Technology Business Incubator ‘Catalyst’ is inviting applications from startups, innovators and aspiring entrepreneurs for Himalayan Innovation Challenge (HIC), which aims to encourage entrepreneurs to develop technology solutions for problems unique to the Himalayan region. The event will be held on May 25 and 26, 2019. The last date to apply through the website, iitmandi.ac.in/Catalyst/HIC/ is May 10, 2019.

A total prize money of Rs 1 lakh will be distributed to top ideas and incubation support will be offered that will include Rs 16 lakh worth of grant and investment from IIT-Mandi Catalyst.

The HIC is an initiative of IIT Mandi Catalyst to actuate a series of innovative technology-based solutions designed specifically to solve social and economic problems in the Himalayan region.

According to faculty in-charge, Catalyst, Dr Puran Singh, in the last two years, Catalyst has supported more than 30 startups of which 16 have been from Himachal Pradesh. Of these, four startups have progressed into the commercialisation phase. These startups have generated employment and internship opportunities for more than 80 individuals. Catalyst has disbursed over Rs 1 crore grant and investments to startups in the past two years, he informed.

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Entries are accepted in individuals, teams, as well as startups form. Innovators and to-be entrepreneurs or established entrepreneurs can find the missing partners and collaborators to build the solutions relevant to the Himalayan region.

IIT Mandi Catalyst will commit financial and active mentoring support to individuals/teams/startups that bring forth promising ideas and commit to implementing them on the ground.

Catalyst aims to create an impact in a range of relevant areas that bear importance for the Himalayan region. There are three tracks in which ideas can be submitted:

Track I: Resources and Sustainability: Natural resource management, Renewable and clean energy, Climate change, Waste management, other relevant themes

Track II: Disaster Management and Safety: Disaster prevention, mitigation and management, Road safety, other relevant themes

Track III: Agriculture, healthcare and inclusive growth: Agriculture, biotechnology, Inclusive healthcare, Financial inclusion, any other area with strong application in the Himalayan region

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