Incubation Program::



The Incubation program supports startups whose ideas are at a much advanced 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 to 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



  • Start up teams that successfully complete exploration program
  • Initial pitch by applicants to a panel of experts
  • Multiple discussion rounds to demonstrate capability for business viability and growth
  • Improve on the prototype and transition it into a final product.
  • Market the product
  • Mentorship.
  • Access to professional networks of IIT Mandi and supporting organizations.
  • Access to office space.
  • Intellectual Property and related advice
  • Legal advice
  • Total financial support worth 5 Lacs to 15 Lacs [but not limited to this].
  • An evaluation committee periodically gauges the progress of the teams against their pre-defined goals.

Incubation Process



IDEA EXPLORATION

    • Feasibility Analysis
    • Prototype building
    • Market testing and validation

INCUBATION

    • Improve the prototype
    • Find Paying customers/users
    • Market outreach

GRADUATION

    • Seed Funding
    • Successful exit from Catlayst