Applications Invited for NIDHI Accelerator Program

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About the Organization

IIMV Foundation for Incubation Entrepreneurial Learning and Development (IIMV FIELD) is the Incubation and Startup Hub of IIM Visakhapatnam. We are now one of the fastest growing incubators in India.

Our Objectives

To promote, develop and nurture the culture of entrepreneurship and innovation by way of facilitating, enabling, creating, fostering, supporting, funding/investing, mentoring,  managing  the  entrepreneurial  efforts,  initiatives, endeavours, and ventures.

To promote and develop platforms which can provide networking opportunities for prospective and potential entrepreneurs, students, teachers/faculty, researchers, alumni groups, angel investor groups and such other like and to enhance possibilities of mutual learning, sharing of knowledge and experiences; cross-fertilization of ideas; exchange of  constructive  thoughts  and  dissemination  of  best practices among such groups.

To promote education, research and other programs and activities in creativity,  upskilling,  re-skilling,  re-tooling,  incubation, acceleration,   innovation,   entrepreneurial   learning   and entrepreneurship development and allied areas of knowledge as well as interdisciplinary studies and domains.

About the Program

National Initiative for Developing and Harnessing Innovations (NIDHI) is an umbrella programme conceived and developed by the National Science and Technology Entrepreneurship Development Board (NSTEDB), Department of Science & Technology, Government of India, for nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups.

NIDHI Accelerator Program is aimed to help aspiring entrepreneurs in the country, including the ventures already being incubated at TBIs, to be guided in a rigorous and more structured manner, through a deep mentoring process and access to funding and market networks. NIDHI accelerators are positioned for accelerating startups that have made significant progress in terms of market validation and are at the growth and scale-up stage.

IIMV-FIELD is one of the 21 centers selected for the Implementation of NIDHI Accelerator Program. The program at IIMV-FIELD will consist of four Phases

• Phase 1 – Outreach & Applications – During this phase, IIMV-FIELD will be reaching out to startups expected to be benefitted through this program. Interested & eligible startups will need to submit the application form in our website.
• Phase 2 – Screening and Selection– In this phase, the applications will be reviewed internally, and the startups will be shortlisted for a brief interaction with the Screening cum Evaluation Committee (SCEC) of IIMV-FIELD. A bootcamp is also designed to assist the startups before the interaction with SCEC.
• Phase 3 – Acceleration Program – In this phase, the selected startups will be a part of a rigorous 6-month long accelerator Program at IIMV-FIELD (virtual & Physical). The phase will end with a Demo Day connecting the startups with investors for fundraising.
• Phase 4 – Post Program Support – Startups successfully completing the phase 3 will be supported in fundraising and networking for an additional period of 12 months.

Why startups should apply for this program at IIMV-FIELD

• 15 Startups will be selected. Acceleration support for 6 Months
• Financial Grant of INR 350,000 for each of the Top 3 performing Startups in the cohort, at the end of Acceleration phase. Which is not Equity or Debt based.
• Support in Fundraising - Demo Day & Investor Connections cum Pitch Events
• 50 Hrs of One-to-One Mentoring/Consulting Support for each startup, from Industry & Academic Experts
• 55 Hrs+ of One-to-many sessions by IIM Faculty and Industry Experts
• 12 Months of Post Program support after successful completion of Acceleration Phase
• Access to certain online & offline learning resources at IIM Visakhapatnam & IIMV-FIELD
• Milestone Based Evaluation & Reviews, once in every two months during acceleration phase
• Online & Offline Events at IIM Visakhapatnam
• Networking Opportunities with Startups, Industry Experts, Faculty, Partner Institutions, Investors, etc

Deadline

31st May 2022 ; 23:59:59 Hrs

For more information please check the Link

Tags Education and Education Technology (edtech) Others