Exploration Program :



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 the aim of making it to the incubation process at IIT Mandi Catalyst.

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Procedure



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.
  • Initial pitch by applicants to a panel of experts..
  • Multiple discussion rounds to evaluate and establish novelty and workability of idea.
  • 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.
  • Mentorship.
  • Infrastructural 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.
  • Working model/prototype/business model.
  • Internal validation by Catalyst Team.
  • External validation by Industry Experts.
  • Performance on predefined goals that teams set for themselves.
  • Conviction of team