By Priya
Patna: Foundation for Innovators in Science and Technology (FIST), a NIDHI-TBI at IIT Patna is inviting business proposals from student, faculty, innovators and startups in Agriculture, water harvesting, energy, manufacturing, etc.
Incubation Programme Overview:
The two-year (initially offer will be made for one year which may be extended to another year based on requirement/performance) Incubation programme at the FIST, IITP is designed to support start-ups for idea validation, product development, building and testing prototypes and early-stage scaling of innovations.
Last Date of Applications: May 23, 2022
Send duly filled business plans to info_tbi@iitp.ac.in
Innovators/Companies selected for incubation will receive mentoring, infrastructure support, fully furnished office and communication facility, PCs, high speed internets, domain expert, access to ecosystem, Technology lab access, business support connect, access to FIST labs and consumable/ contingency support upto Rs. 3 lakhs. Seed fund of up to Rs. 10 lakhs will be arranged from funding agencies subject to terms and conditions.
Who can apply: Any Indian citizen who have innovative idea and can make a working product ready. Students, faculty, other innovators and start-ups can apply for incubation.
How to apply:
The applicants should submit a business plan in order to be considered for incubation.
The business plan submitted to info_tbi@iitp.ac.in with following details:
- Value proposition (highlighting the innovation)
- Profile of management team; and advisory board (if any)
- Planned products and services portfolio
- Product development milestones and timelines
- Approach and infrastructure requirements for technical implementation
- Market potential analysis and Competition analysis
- Funding requirements
- Capital structure
- Go-to-market plan
- Risk analysis and projected financials
A Project Evaluation Team, comprising of eminent personalities from Industry, academia, government and investment community, will evaluate the business plans. Shortlisted applicants will be called for online/offline presentation before an expert panel. Based on the recommendation from the panel, the applicant will be admitted to the incubation programme based on the schedules made for evaluation and admissions from time to time.
Admission now opens to 4th batch of incubation. Business plans received up to May 23, 2022 will be considered for admissions in this batch.
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