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31 May 2020, Edition - 1783, Sunday

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IIT Mandi Catalyst business incubator is calling for applications from startups and entrepreneurs


Indian Institute of Technology (IIT) Mandi’s Catalyst, Himachal Pradesh’s first Technology Business Incubator (TBI), is inviting applications from start-ups and aspiring entrepreneurs for the next batch of the start-up Exploration Program.

The start-up Exploration Program of Catalyst is a pre-incubation programme which can help participants refine their business idea, create a prototype, and test for market potential. It plans to support 30 startups in the coming year.

Speaking about the Catalyst, Dr. Puran Singh, Faculty-in-charge of IIT Mandi Catalyst, said, “Catalyst has ambitious plans for the year 2019. We intend to support as many as 30 startups this calendar year. The programme is most suited for startups in early stages looking for low cost environment to build up the product.”

What kind of startup support will IIT Mandi Catalyst provide?

Catalyst mainly incubates technology-based start-ups in many relevant domains such as road safety, healthcare, agriculture, disaster prevention, waste management, eco-tourism, and clean energy.

Catalyst will provide administrative and infrastructure support, expert services including financial and legal advisory besides training and mentoring support from experts in various domains.

It will also provide financial support and assist in raising further funding.

More on the application process

The last date to apply for this programme is December 31, 2018.

Interested startups can apply through: http://bit.ly/catalyst18apply

How will the startup selection work?

Shortlisted applicants will have to present their initial pitch to a panel of experts followed by multiple discussion rounds to evaluate and establish the novelty and workability of ideas

Selected teams will be guided by IIT Mandi Catalyst to explore various business and technology aspects of a business idea leading to the refinement of ideas

Successful completion of the Exploration Program would open the door for a one-year support programme through which Catalyst provides up to Rs 15 Lakh seed fund using which start-ups are expected to commercialise

Catalyst-supported start-ups are also provided financial support by the Himachal Pradesh Center for Entrepreneurship Development

The support includes Rs 25,000 per month sustenance allowance and Rs 10 Lakh for marketing and commercialisation

For more details see: www.iitmandicatalyst.in

About IIT Mandi Catalyst

Launched in 2016, IIT Mandi Catalyst is the first Technology Business Incubator (TBI) in the state of Himachal Pradesh. Supported by Department of Science and Technology of the government of India, Catalyst aims to incubate technology-based start-ups focused on economic and/or social impacts.

As the name implies, it serve as a ‘catalyst’ to nurture and guide entrepreneurial initiatives with social and/or commercial objectives. IIT Mandi Catalyst was awarded INR 5 crores funding from DST for the period 2016-21. IIT Mandi has committed about INR 8 crores for the same duration.

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