Published: 21st August 2020
IIT Mandi catalyst kicks off another batch of start-up exploration programme despite uncertainties due to COVID-19
This programme will run for a period of 3 months during which the start-ups will be provided with the funding support of Rs. 1.5 lakhs
Indian Institute of Technology Mandi Catalyst has launched its second batch of Start Exploration Programme of the year 2020 from August 21, 2020. Overall, this is the 7th batch of start-ups that Catalyst will host. With this startup batch, Catalyst has now supported over 100 startups since its inception. Launched in 2016, the first technology business incubator of Himachal Pradesh, helps the start-ups to convert their ideas into viable businesses through this programme.
This programme will run for a period of 3 months during which the start-ups will be provided with the funding support of Rs. 1.5 lakhs. Apart from the funding support, the Catalyst team will also mentor the start-ups and provide them with training and network to grow their innovative ideas.
Speaking about the second batch of Start-up Exploration Programme 2020, Dr Puran Singh, Faculty-in-charge, IIT Mandi Catalyst, said, “During these uncertain times that are especially difficult for entrepreneurs, we have decided to start the batch online. This is a critical time to support aspiring entrepreneurs and innovators as innovation is the need of the day. Gradually, the startups will be brought to the campus.”
In this batch of the Startup Exploration Programme, a total of thirty-two startups from different sectors including Waste Management, Agrotech, Healthtech, Biotech, Edutech, Tourism and Hospitality, Manufacturing, Enterprise Management, and Cleantech have been shortlisted. It is notable that out of these, twelve startups are from the Himalayan region.
On completion of this exploration programme, Catalyst will provide the start-ups funding options from multiple sources. It is notable that Catalyst is currently hosting six funding schemes that provide funding for every stage of a start-up - idea validation, prototyping, and commercialisation. These funding under these schemes ranges between Rs 1.5 Lakhs – Rs 50 Lakhs, and are sponsored by the Department of Science and Technology, Government of India, Ministry of Electronics and Information Technology, Government of India, Department of Industries (Himachal Pradesh State Government), and IIT Mandi.