Hyderabad: CIE (Center for Innovation and Entrepreneurship) at IIITH has launched TVARIT, a unique micro accelerator series curated for purpose-specific enablement of early-stage deep-tech startups. It will focus on startup development with the support of IIITH’s deep-tech labs, functional experts, investor mentors and industry leaders.
Centre of Innovation and Entrepreneurship, also known as CIE@IIITH is a DST approved incubator operational since 2008. CIE@IIITH has so far supported around 200+ startups and has seed- funded 30 startups.
From CIE’s experiences of the past 11 years helping 350+ startups, the centre identified this as a critical need for early stage startups. Today there is very little structured support for such startups in the deep tech space, other than the very limited numbers supported by Accelerators and Seed investors
The Micro Accelerator series, TVARIT, is a unique model around purpose specific result oriented programs. Through a structured program that will start with a bootcamp, followed by the need set of mentor sessions around products, markets, product validation, showcase opportunities, IIITH deep-tech lab support and market connects .
TVARIT in its phase 1 comprises of 5 micro accelerators – Product Strategy 101, Product Co-creation (with research), Go-to Angels (1+Cr fund raise), First Revenue GTM and Early scale. Applications open on 1st September and is limited to 15 startups per Micro Accelerator.
Product Strategy 101 will help startups decide on whether their idea and opportunity is compelling and viable enough, explore alternatives that could be more promising and understand the broad plans for the idea and the path to markets.
Product Co-Creation will provide startups validation of technology use in the product based on inputs from the relevant research lab, access to IIITH technology integrated and deployed, IP and well as technology road map.
Go To Angels – Startups will be guided on how to pitch their idea and plans to investors, for 1+ crore funding. With help primarily around clear articulation of problem, opportunity, solution, value proposition, GTM readiness, near term plans and validation through pilots.
First revenue Go To Market (GTM) will enable startups to take their product to market by targeting the right customers. It will also help them to focus on the right revenue model and design the right revenue stream under the selected model.
Commenting on the Programme, Dr. Sonali Khanra, who heads the accelerator programs at CIE@IIITH, said, “this micro-accelerator series will provide institutional capacity to every stage of startups through this series of mentor ledprograms powering the startups into their next stage”.
According to Ajay Jain, one of the strategy mentors, “TVARIT is well positioned to solve the key problem that early stage startups would require help for. The programme has been devised based on rich experience within CIE and from the various mentors associated with the programme. I am confident that a programme like this can enhance the overall success rate of startups”.