IIT Mandi Catalyst

Incubation:

The Incubation program supports startups whose ideas are at a much advance stage compared to teams that are admitted to exploration program. Through this program, teams are expected to further improve and finalize the product/service and commercialize. Teams are expected start commercial operations during this stage by engaging with paying customers. The duration of the program ranges from 12-18 months or more if necessary.

PROCEDURE:
1. Eligibility?
a. IIT Mandi students, alumni, faculty, and staff members.
b. Non-IIT Mandi applicants need to have an IIT Mandi connection [team member,mentor,advisor]Catalyst facilitates outside            teams in establishing IIT Mandi connection.

2.What is the selection process for exploration phase?
a. Initial pitch by applicants to a panel of experts
b. Multiple discussion rounds to demonstrate capability for business viability and growth

3. What are teams expected to do in Incubation Phase?
a. Improve on the prototype and transition it into a final product.
b. Market the product

4. What is the Support available?
a. Mentorship.
b. Access to professional networks of IIT Mandi and supporting organizations.
c. Access to office space.
d. Intellectual Property and related advice
e. Legal advice
f. Total financial support worth 5 Lacs to 15 Lacs [but not limited to this].

5. How are the team evaluated after the incubation phase?
An evaluation committee periodically gauges the progress of the teams against their pre-defined goals.

INCUBATION PROCESS

1. IDEA EXPLORATION                        2. INCUBATION                        3. GRADUATION