Deadline: 31-Aug-22
Are you an Entrepreneur motivated to solve a social problem and create an impact on the society? If Yes, then apply for the Social Impactpreneurs Program at IIMV FIELD aims to focus on and support Entrepreneurs that set out to solve social problems in the gap areas as identified by the NITI Aayog, GOI and thereby create an Impact on the Society.
The objective of this program is to enable them to transform their ideas into a successful & financially sustainable business venture for the larger good of the society. The 15-month long Program will support up to 100 entrepreneurs in multiple phases and provide one year of incubation support for upto 25 promising ventures at IIMV FIELD. The Program is funded by the CSR Initiatives of MTAR Technologies Ltd, Hyderabad.
Funding Information
- Fiscal Incentives
- Financial Support – During the Incubation Phase, 15 Startups will get upto INR 50,000 as Prototyping Fund. At the end of the Incubation Phase, 4 Startups will get upto INR 250,000 as Seed Fund.
Phases
- The Program consists of four Phases:
- Outreach & Applications (Phase 1): 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 the offical website
- Ideation Bootcam (Phase 2): In this Phase, upto 100 applicants will get shortlisted for a month-long ideation bootcamp being conducted virtually by IIMV-FIELD. During the bootcamp, the entrepreneurs will get inputs on various essential knowledge areas such as:
- Introduction to “Do Your Venture”
- Opportunities and Idea Generation
- Idea Validation and Evaluation
- Lean Canvas
- After the completion of the bootcamp, the Startups will be encouraged to submit a business plan (lean canvas & pitch video) for selection to the next stage of the program
- Pre-incubation Bootcamp (Phase 3): In this phase, upto 50 ventures will be shortlisted to undergo a two-month long pre-incubation bootcamp, where ventures will be given structured inputs and mentorship by IIMV-FIELD supplemented by inputs from technical institutions, social startup entrepreneurs and mentors to develop idea into a business plan. The participants would learn what it takes to building a sustainable business.
- After the completion of the bootcamp, the progress of the ventures will be reviewed internally, and the Startups will be shortlisted for a brief interaction with the Screening cum Evaluation Committee (SCEC) of IIMV-FIELD. The SCEC will select upto 25 Ventures for the next phase of the program
- Incubation Support at IIMV FIELD (Phase 4): In this phase, the selected Startups will be a part of a rigorous 12-month long Incubation Program at IIMV-FIELD (virtual & Physical). Startups will also get Prototyping and Seed Support from IIMV FIELD depending on their progress. The phase will end with a Demo Day connecting the Startups with investors for fundraising.
Eligibility Criteria
- The applicant can choose to be working on a product/service in any sector but should be solving the social problems in the gap areas as identified by the NITI Aayog, GOI
- The applicant can apply with only an idea during the call for applications phase.
- Applicant must be a citizen/resident of India and must be at least 18 years of age (as on 1st July 2022)
- At least one member from the team should be willing to pursue the idea full time and at least one member must be from technical background.
For more information, visit https://www.startupindia.gov.in/content/sih/en/ams-application/incubator-program.html?applicationId=62d26698e4b037fe2c11a973
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