IIT Mandi Catalyst
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.
- 1. Who can apply?
Any of the following:
- IIT Mandi students, alumni, faculty, and staff members.
- Start up teams that have founding members from Himalayan region.
- Start up teams that are creating solutions for social/economic problems in Himalayan region.
- Start up teams that intend to work out of Himachal Pradesh.
- 2. What is the selection process for exploration phase?
- Initial pitch by applicants to a panel of experts.
- Multiple discussion rounds to evaluate and establish novelty and workability of idea.
- 3. What are teams expected to do in Exploration Phase?
- Set monthly goals in consultation with Catalyst.
- Explore various business and technology aspects of business idea leading to refinement of ideas.
- Team showcases their commitment and establish novelty, business potential and market for their idea.
- 4. What support is available?
- Infrastructrual and technical support for prototype development.
- Office space.
- Financial support ranging between 50,000-1,50,000 [but not limited to] depending upon nature of business idea.
- 5. What is the basis of evaluation of teams in exploration phase?
- Working model/prototype/business model.
- Internal validation by Catalyst Team.
- External validation by Industry Experts.
- Performance on pre-defined goals that teams set for themselves.
- Conviction of team