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IIT-Mandi inviting start-up ideas to incubate

The support includes Rs 25,000 per month sustenance allowance and Rs 10 Lakh for marketing and commercialization. The last date to apply is December 31, 2018

By: Careers Desk | New Delhi |
Updated: December 21, 2018 7:07:22 pm
LinkedIn, LinkedIn logIn, top paid job, The last date to apply is December 31, 2018. (Representational Image)

The Indian Institute of Technology (IIT) Mandi is looking for aspiring entrepreneurs. If you have an idea send your applications to the Catalyst Technology Business Incubator (TBI), IIT-Mandi. A total of 30 ideas will be selected for the start-up exploration program. Under this, the selected participants will be mentored to refine their business idea, create a prototype, and test for market potential.

Selected ideas will get a monthly stipend of Rs 25,000 and Rs 10 lakh fund for marketing and comercialisation. Faculty-in-charge of IIT Mandi Catalyst, Puran Singh said that the article is most suited for startups in early stages looking for low-cost environment to build up the product. The last date to send applications is December 31, 2018.

Catalyst mainly incubates technology-based start-ups in many relevant domains such as road safety, healthcare, agriculture, disaster prevention, waste management, eco-tourism, and clean energy.

The start-up ideas will get administrative and infrastructure support, expert services including financial and legal advisory besides training and mentoring support from experts in various domains. It will also provide financial support and assist in raising further funding.

How to apply?

Interested candidates should apply by filling up the form at – iitmandicatalyst.typeform.com. Shortlisted applicants will have to present their initial pitch to a panel of experts followed by multiple discussion rounds to evaluate and establish the novelty and workability of ideas. Selected teams will be guided by Catalyst to explore various business and technology aspects of a business idea leading to the refinement of ideas.

Successful completion of the Exploration Program would open the door for a one-year support program through which Catalyst provides up to Rs. 15 Lakh seed fund using which start-ups are expected to commercialize. Catalyst-supported start-ups are also provided financial support by the Himachal Pradesh Center for Entrepreneurship Development.

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