IIT Mandi Catalyst

Exploration Program:

Idea Exploration program is a pre-incubation program for ideas that may be admitted to incubation process at IIT Mandi Catalyst. The objective of exploration program is to help the participants refine their business idea, create a prototype, and test for market potential. The duration of program may be 3-5 months where in participants work with mentors and utilize physical/financial support with an aim of making it to the incubation process at IIT Mandi Catalyst.

PROCEDURE

  1. 1. Who can apply?
    1. IIT Mandi students, alumni, faculty, and staff members.
    2. Non-IIT Mandi applicants need to have an IIT Mandi connection [team member, mentor, advisor]. Catalyst facilitates outside teams in establishing IIT Mandi connection.
  1. 2. What is the selection process for exploration phase?
    1. Initial pitch by applicants to a panel of experts.
    2. Multiple discussion rounds to evaluate and establish novelty and workability of idea.
  1. 3. What are teams expected to do in Exploration Phase?
    1. Set monthly goals in consultation with Catalyst.
    2. Explore various business and technology aspects of business idea leading to refinement of ideas.
    3. Team showcases their commitment and establish novelty, business potential and market for their idea.
  1. 4. What support is available?
    1. Mentorship.
    2. Infrastructrual and technical support for prototype development.
    3. Office space.
    4. Financial support ranging between 50,000-1,50,000 [but not limited to] depending upon nature of business idea.
  1. 5. What is the basis of evaluation of teams in exploration phase?
    1. Working model/prototype/business model.
    2. Internal validation by Catalyst Team.
    3. External validation by Industry Experts.
    4. Performance on pre-defined goals that teams set for themselves.
    5. Conviction of team