IIT Mandi Seeks Applications For Incubating StartUps

IIT Mandi (South Campus)

Mandi: Indian Institute of Technology Mandi’s Catalyst, the first
Technology Business Incubator (TBI) in Himachal Pradesh, has sought applications from start-ups and aspiring entrepreneurs for the next batch of the start-up Exploration Program.

The start-up Exploration Program of Catalyst is a pre-incubation program at Catalyst. The objective of the program is to help the participants refine their business idea, create a prototype, and test for market potential.

Speaking about the Catalyst, Dr. Puran Singh, Faculty-in-charge of IIT Mandi Catalyst said, “Catalyst has ambitious plans for the year 2019. We intend to support as many as 30 startups this calendar year. The program is most suited for startups in early stages looking for low cost environment to build up the product.”
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. Catalyst will provide 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.

The last date to apply for this program is 31st December 2018.

Interested startups can apply through: http://bit.ly/catalyst18apply

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.

The support includes Rs 25,000 per month sustenance allowance and Rs 10 Lakh for marketing and commercialization.

For more details see: http://www.iitmandicatalyst.in


About IIT Mandi Catalyst
Launched in 2016, IIT Mandi Catalyst is the first Technology Business Incubator (TBI) in the state of Himachal Pradesh. Supported by Department of Science and Technology, government of India, Catalyst aims to incubate technology-based start-ups focused on economic and/or social impacts. As the name implies, it serve as a ‘catalyst’ to nurture and guide entrepreneurial initiatives with social and/or commercial objectives. The Catalyst was awarded INR 5 crores funding from DST for the period 2016-21.

IIT Mandi has committed about INR 8 crores for the same duration.

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