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Ignite Program

Fueling idea-stage startups to transform innovation into viable ventures.

Overview

Ignite is an intensive idea incubation program designed to nurture and empower idea-stage startups, providing them with the essential knowledge, resources, and mentorship needed to transform their innovative concepts into viable startups.

Duration: 3 Months, Program Fee: INR 12000/- (for the entire duration of the program)
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Objective

This program aims to bridge the gap between ideation and realization, ensuring that promising ideas receive the support they need to become a validated & viable initiative to be incubated for further support.

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Participant Profile

Individuals or teams with a strong entrepreneurial mindset with innovative and unique concepts or technologies that have the potential to disrupt existing markets or create new ones.

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Support

Assist startups in refining and validating their initial concepts. Curated mentoring and training workshops.

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Outcome

Upon successfully validating the idea and associated assumptions, get an opportunity to become part of the next-level Incubation Programs with IIT Mandi Catalyst.

Key Features
  • Curated mentoring sessions & workshops to guide participants on how to critically evaluate their ideas, considering factors like market demand, competition, scalability, and feasibility.
  • Provide training on conducting thorough market research to understand target audiences, industry trends, and potential gaps in the market.
  • Introduce the principles of the lean startup methodology, emphasizing the importance of building minimum viable products (MVPs) to test assumptions and gather real-world feedback.
  • Offer guidance for creating prototypes or proof-of-concept models to showcase the idea's functionality and potential.
  • Help participants recognize when it's necessary to pivot their ideas or persevere based on validation results and changing market conditions.
Program Flow & Engagement Plan

Curated Workshops

Teams will undergo a training program structured over the duration of the exploration program. In-depth training sessions on the following relevant issues related to starting up will be held:

  • Workshop 1: Visioning Exercise: Why Startup? Aligning thinking with action to achieve effective execution
  • Workshop 2: Design Thinking: How to identify a problem and approach its solution?
  • Workshop 3: Target Customers: How to identify your target customers and create customer personas.
  • Workshop 4: Minimum Viable Product: How to develop prototype & test selected concepts with customers.
  • Workshop 5: Sustainable Business Models: Learn what is an efficient business model and why it is important. Explore the importance of customer value propositions.
  • Workshop 6: Story Telling: Learn how to tell a story that resonates with your target audience and builds brand recognition.
  • Demo Day: Serves as a culmination of the program and a platform for startups to showcase their progress whilst identify opportunities for startups to transition to the next level of incubation programs

Mentors/Advisors

Mentoring from mentors from relevant industry backgrounds as per the requirements.

Ignite Check-ins

Monthly meeting with the Catalyst team to gauge progress and identify bottlenecks and areas of additional support required.

Expected Outcome: Phase 1 Incubation Program
  • Refined Startup Idea: At the end of the program, the team will have a much clearer and refined startup idea. This means that their initial concept has been developed, validated, and improved upon through feedback and mentorship.
  • Market Validation: The team will have a better understanding of its target market and about the demand for the proposed solution. This validation is crucial for the next stages of growth.
  • Path to Incubation:Ultimately, the desired outcome is to have a startup that is ready to move to Phase 1 of the Incubation Program.