Programs
Incubation
Catalyst’s incubation program is divided into two phases:
Phase I is a three-month structured engagement program in which startups demonstrate the value of their idea. During this period, startups set goals for themselves and work hard to achieve them in a focused and time-bound manner.
Startups that successfully complete Phase I are then advanced to Phase II of the incubation program. This phase requires a one-year or longer commitment from Catalyst.
More information about this is provided below.
We also call it ‘Idea Exploration’ phase. The objective is to help the participants refine their business idea, create a prototype, and test for market potential. The duration of the program is 3 months where the participants work with mentors and utilize the support with an aim of making it to the next phase.
Objective program:
The objective of this phase is to help a startup to achieve concept validation and to prove market potential.
Eligibility and Selection Process:
The program is open to Indian nationals who have a technology based innovative startup idea. Selection involves a multi-stage process including online application, screening, tele-pitch, in-person pitch to a selection panel and final discussion.
Duration:
3 months.
Program Structure
During these three months, startups undergo a structured training program. Every month a bunch of hands-on workshops are held to help startups get in place the basics of building a business. These workshops are conducted by industry mentors and experts with years of experience in dealing with startups and related issues. These workshops cover aspects ranging from business strategy to legal and financial issues. One-on-one mentoring time with mentors is facilitated for the startups. During this time, startups get to access the intellectual prowess of young and dynamic faculty of IIT Mandi for technical mentoring on product building. Many startups use this time to build a prototype, test and refine the prototype with the guidance of faculty.
The startups set goals for themselves that they intend to achieve in the three months. A checkpoint meeting is held every month to assess the progress and identify areas where support is required.
This program helps us:
- validate the idea that a startup is working on.
- establish a strong connect with the founding team
Expected Outcome
We bring clarity to the minds of founders about the ideas that they are working on, help them validate their assumptions about the market, and bring them to a point of where they reach any of the following conclusions:
- I can do it!
- I can’t do it.
- It can’t be done.
- It can be done, but I can’t do it.
- It can be done, but not this way.
- It can be done, but it is not worth doing.
Startups that achieve validation or show market traction are moved to phase II of the incubation program.
Note: IIT Mandi Catalyst has an active incubation program and involves program fees. If you are selected for the program, you shall pay the incubation program fees i.e INR 9000 for three months.
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Startups that show some evidence of market traction are provided support in Phase II of the incubation program. We spend more time with startups in this phase and help them in market linkage. The startups are expected to build an MVP and find paying customers using the learnings from their work in Phase I.
Eligibility:
- Completion of Phase I
- Evidence of market traction
- Exhibition of high level commitment, sincerity and focus.
- Alignment with vision of Catalyst
Selection Process:
Startups meeting the eligibility criteria apply through an application form. Shortlisted startups are invited to pitch to a selection committee.
Program Structure
Startups in this phase are expected to commercialize. There is no structured engagement plan for startups in this phase although they get access to ongoing workshops for Phase I startups. We do a written commitment of providing support for one year to begin with which can be extended by another 6-12 months on a case to case basis.
Seed Funding
Startups in this phase are extended seed funding upto INR 50 Lakhs against a stake in the company. Catalyst takes less than 10% equity for any amount of seed fund. All startups undergo a due diligence process and sign a shareholder agreement with Catalyst. The funds are disbursed in tranches based on milestones.
Expected Outcome
We bet on the success of the startups in Phase II. We put ourselves behind these teams to ensure that they see success as soon as practical. Typical growth path for startups is to move out of the campus gradually and survive in the real world. One yardstick of success is the external funding that the startup is able to attract the seed funding.
The program aims to support commercialized startups in scaling up the business and achieving fast growth through investment from the incubator, external investors, and strategic market linkages. The program typically addresses problems newly commercialized ventures face in understanding and resolving hurdles to building a larger organization and reaching a larger national or international market that quickly brings opportunities for significant business growth.
Program Objectives:
- To help HCI startups scale and create impact.
- To help HCI startups pre-series A funding.
Focus Area:
The Accelerator focuses on accelerating startups solving problems related to human-computer interaction (HCI) across different domains.
- Environment – Help solve some of the most significant environmental concerns that we face as a society.
- Healthcare – To reduce human errors, improve clinical outcomes, facilitate care coordination, improve practice efficiencies, and track data over time.
- Information Technology (IT) – Build communications networks, safeguard data and information, create and administer databases, all in the most user-friendly way possible.
- Defense and Security – The need for information gathering, communication, and informed decision-making is continuous; it pervades all deterrence, defense, and attack stages.
Eligibility:
The Startups working in the HCI domain that have a consistent revenue stream qualify for the Accelerator Program. Ideally, the program looks at companies who are almost ready for a Pre-Series round of funding and need some industrial expertise to help them fix their weak links.
- Startup registered in India and Indian citizens as majority shareholders.
- Startup working in HCI area.
- Startups in MVP/ Post-MVP stage.
- The startups that have paying customers and established revenue streams and/or have raised seed funding.
Expected outcome:
Seed support to a startup is regarded as a means to attract and raise external angel / venture capital funding and should be appropriately leveraged by the start ups. Quantum of Angel and VC funding raised is an indicator of success of the program. It is expected that several of the funded startups under this program will go on to raise external funding.
IIT Mandi Catalyst EIR Program
EIR Programme is an entrepreneurship fellowship/grant in the form of a stipend to an aspiring entrepreneur with a potential for pursuing a promising technology business idea. The support to early-stage, product-focused young entrepreneurs working on innovative big ideas would be for a maximum period of 12 months.
Objectives of EIR Scheme
● To encourage aspiring entrepreneurs in taking initial steps towards entrepreneurship by
providing support as a fellowship.
● To provide a platform to individuals with an entrepreneurial/innovative mindset looking
for an idea, attempting to validate their own idea, or find cofounders.
Target Audience
● Individuals with a strong desire to become an entrepreneur.
● Individuals with an idea that needs to be validated before committing large resources.
● Individuals looking for an idea that can be commercialized.
● Individuals who are a single founder exploring a business idea and looking for potential
partners
● Individuals looking to get groomed for an entrepreneurial journey
● Individuals that have tried entrepreneurship before unsuccessfully, and want to use the
learning into another attempt
Guidelines
● The EIR applicant should be a citizen of India. An Indian citizen is defined as one who is
in possession of a government-approved proof of nationality such as a valid passport,
voter’s id, etc.
● EIR is a full-time position. The support recipient should not treat this support as a
stopgap arrangement to support them in their academic pursuits or transition between
jobs.
● EIR support recipients are expected to pursue their entrepreneurial aspirations full time.
EIR cannot be concurrent with any other remuneration or fellowship.
● Once the candidate raises funding or investments for their business ideas, the grant
support shall be discontinued from the date of receipt of the first tranche of funds.
● The applicant shall spend 80% of the time on exploring his/her business idea and 20%
of the time to support Catalyst initiatives
● The maximum duration of the program is one year. Progress evaluation will be done
periodically to decide on continuation of support.
Benefits
● Access to IIT Mandi’s innovation and entrepreneurship ecosystem
● Access to business/technical ideas that can be taken forward
● A monthly stipend support of INR 10k-30k for a maximum period of 12 months
● Guidance on product development, commercialization, business concepts and market
strategy.
● Access to IIT Mandi faculty, students, and research infrastructure
● Co-working space and hostel facility, based on availability
Expected Outcome
● It is expected that EIR candidates will explore a technology based business idea and
find clarity, potential team members and move into the Incubation program of Catalyst
for more support.
Funding
● Funding for this program can be through various support programs of sponsoring
agencies for example DST, TIH, Meity, HP Govt, etc.
Application and Selection Process
● Applications to be open throughout the year, screened periodically.
● EIR Management Committee will include the following:
○ Any two of the following
■ Faculty Incharge(s)
■ Senior Advisor
■ Manager, Incubator or higher
○ At least one
■ Technical Expert
■ Domain Expert
● Selection Process
○ Application by the candidate through online portal or any other means advertised by the incubator
○ Screening by the EIR Management committee
○ Interview(s)/Pitch(s) by the shortlisted candidates to the the EIR Management committee
○ Selection decision by the committee
We also call it ‘Idea Exploration’ phase. The objective is to help the participants refine their business idea, create a prototype, and test for market potential. The duration of the program is 3 months where the participants work with mentors and utilize the support with an aim of making it to the next phase.
Objective program:
The objective of this phase is to help a startup to achieve concept validation and to prove market potential. This is a three month residential program based out of IIT Mandi campus. Given the covid situation, this program is currently being conducted online.
Eligibility and Selection Process:
The program is open to Indian nationals who have a technology based innovative startup idea. Selection involves a multi-stage process including online application, screening, tele-pitch, in-person pitch to a selection panel and final discussion.
Duration:
3 months.
Program Structure
During the three months of residential time on campus, startups undergo a structured training program. Every month a bunch of hands-on workshops are held to help startups get in place the basics of building a business. These workshops are conducted by industry mentors and experts with years of experience in dealing with startups and related issues. These workshops cover aspects ranging from business strategy to legal and financial issues. One-on-one mentoring time with mentors is facilitated for the startups. During this time, startups get to access the intellectual prowess of young and dynamic faculty of IIT Mandi for technical mentoring on product building. Many startups use this time to build a prototype, test and refine the prototype with the guidance of faculty.
The startups are expected to stay in the campus and travel for work when required. Work space and access to laboratories is provided to the startups. The startups set goals for themselves that they intend to achieve in the three months. A checkpoint meeting is held every month to assess the progress and identify areas where support is required.
This program helps us:
- validate the idea that a startup is working on.
- establish a strong connect with the founding team
Expected Outcome
We bring clarity to the minds of founders about the ideas that they are working on, help them validate their assumptions about the market, and bring them to a point of where they reach any of the following conclusions:
- I can do it!
- I can’t do it.
- It can’t be done.
- It can be done, but I can’t do it.
- It can be done, but not this way.
- It can be done, but it is not worth doing.
Startups that achieve validation or show market traction are moved to phase II of the incubation program.
Eligibility:
- Completion of Phase I
- Evidence of market traction
- Exhibition of high level commitment, sincerity and focus.
- Alignment with vision of Catalyst
Startups meeting the eligibility criteria apply through an application form. Shortlisted startups are invited to pitch to a selection committee.
Program Structure
Startups in this phase are expected to commercialize. There is no structured engagement plan for startups in this phase although they get access to ongoing workshops for Phase I startups. We do a written commitment of providing support for one year to begin with which can be extended by another 6-12 months on a case to case basis.
Seed Funding
Startups in this phase are extended seed funding upto INR 50 Lakhs against a stake in the company. Catalyst takes less than 10% equity for any amount of seed fund. All startups undergo a due diligence process and sign a shareholder agreement with Catalyst. The funds are disbursed in tranches based on milestones.
Expected Outcome
We bet on the success of the startups in Phase II. We put ourselves behind these teams to ensure that they see success as soon as practical. Typical growth path for startups is to move out of the campus gradually and survive in the real world. One yardstick of success is the external funding that the startup is able to attract the seed funding.
EIR Programme is an entrepreneurship fellowship/grant in the form of a stipend to an aspiring entrepreneur with a potential for pursuing a promising technology business idea. The support to early-stage, product-focused young entrepreneurs working on innovative big ideas would be for
a maximum period of 12 months.
Objectives of EIR Scheme
● To encourage aspiring entrepreneurs in taking initial steps towards entrepreneurship by providing support as a fellowship.
● To provide a platform to individuals with an entrepreneurial/innovative mindset looking for an idea, attempting to validate their own idea, or find cofounders.
Target Audience
● Individuals with a strong desire to become an entrepreneur.
● Individuals with an idea that needs to be validated before committing large resources.
● Individuals looking for an idea that can be commercialized.
● Individuals who are a single founder exploring a business idea and looking for potential partners
● Individuals looking to get groomed for an entrepreneurial journey
● Individuals that have tried entrepreneurship before unsuccessfully, and want to use the learning into another attempt
Guidelines
● The EIR applicant should be a citizen of India. An Indian citizen is defined as one who is in possession of a government-approved proof of nationality such as a valid passport, voter’s id, etc.
● EIR is a full-time position. The support recipient should not treat this support as a stopgap arrangement to support them in their academic pursuits or transition between jobs.
● EIR support recipients are expected to pursue their entrepreneurial aspirations full time. EIR cannot be concurrent with any other remuneration or fellowship.
● Once the candidate raises funding or investments for their business ideas, the grant support shall be discontinued from the date of receipt of the first tranche of funds.
● The applicant shall spend 80% of the time on exploring his/her business idea and 20% of the time to support Catalyst initiatives
● The maximum duration of the program is one year. Progress evaluation will be done periodically to decide on continuation of support.
Benefits
● Access to IIT Mandi’s innovation and entrepreneurship ecosystem
● Access to business/technical ideas that can be taken forward
● A monthly stipend support of INR 10k-30k for a maximum period of 12 months
● Guidance on product development, commercialization, business concepts and market strategy.
● Access to IIT Mandi faculty, students, and research infrastructure
● Co-working space and hostel facility, based on availability
Expected Outcome
● It is expected that EIR candidates will explore a technology based business idea and find clarity, potential team members and move into the Incubation program of Catalyst for more support.
Funding
● Funding for this program can be through various support programs of sponsoring agencies for example DST, TIH, Meity, HP Govt, etc.
Application and Selection Process
● Applications to be open throughout the year, screened periodically.
● EIR Management Committee will include the following:
○ Any two of the following
■ Faculty Incharge(s)
■ Senior Advisor
■ Manager, Incubator or higher
○ At least one
■ Technical Expert
■ Domain Expert
● Selection Process
○ Application by the candidate through online portal or any other means advertised by the incubator
○ Screening by the EIR Management committee
○ Interview(s)/Pitch(s) by the shortlisted candidates to the the EIR Management committee
○ Selection decision by the committee
Click here to Apply