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 will serve as a 'catalyst' to nurture and guide entrepreneurial initiatives with social and/or commercial objectives.
Catalyst has initial emphasis on ideas in domains such as HealthTech, EduTech, FinTech, AgroTech, BioTech, Renewable and Clean Energy that leverage technologies such as Artificial Intelligence, Machine Learning, Internet of Things, information technology, etc. However, Catalyst is not limited to these areas. By the very nature of innovation, we expect other interdisciplinary technology areas will spawn business ideas worthy of incubation at Catalyst.
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. In addition, Vishal Bharat Comnet has donated INR 10 Lakhs toward incubation funds of IIT Mandi Catalyst. In 2017, Government of Himachal Pradesh committed INR 30 Lakhs for Catalyst.
Catalyst provides wide range of support which is necessary for early stage startups. It include:
- Infrastructure support for office operations
- Administrative support including meeting rooms, conference facility
- Expert services including financial and legal advisory
- Mentoring support from experts in various domains
- Funding support - initial funding support from Catalyst and assistance in raising seed funding
- Training support on various aspects of technology and business