IIM Udaipur Incubation Center Invites AgriTech & FinTech Startups From Across Nation, Doubles the Investment Offerings to 20 lakhs
Udaipur: IIM Udaipur’s Incubation Center announced the fourth cohort of their ‘Launch-n-Zoom,’ a 3-month accelerator cohort program designed to provide startups with the resources and support they need to grow quickly, test the market, and become viable. IIMUIC is inviting technology-backed startups (pre-seed, seed, and growth stage) offering solutions to tackle challenges in the AgriTech and FinTech sectors. Startups who have their prototype/MVP ready and are in the process of scaling/marketing their products in the AgriTech and Fintech stand eligible for this program.
Apart from Market Validation, Networking, Mentorship, Industry Partnership and Incubation Support, the cohort also includes investment opportunities up to rupees 20 lakhs for qualified startups. The program is powered by the DST, (Gov) of India and is presented in collaboration with PI Industries and Fidelity Investments. As the corporate partners, PI and Fidelity Investments will mentor and guide AgriTech participants.
Mr. Kannan Soundararajan, CEO, IIM Udaipur Incubation Center said, “The fourth edition of Launch-n-Zoom supported by NIDHI Seed Support is a three-month accelerator program with a unique opportunity for the entrepreneurs to scale and grow their ventures with the help of our mentors, industry experts, and corporate partners. We as a team, will try and tailor the program to your unique needs and help in your venture’s growth. I offer my heartiest congratulations and warmly invite eligible startups to this cohort.”
In the focus area of AgriTech, subject topics such as Market Linkage-Farm Inputs, Farm Mechanization and Automation, Precision Agriculture and Farm Management, Quality Management, Supply Chain Tech, Waste Management and Financial Services etc, will be covered. Whereas in the focus area of Fintech, concerns such as Autonomous Finance, Financial Primacy, Banking-as-a-service, Financial Inclusion-Retail Customers, and Financial Inclusion- SMEs etc, will be addressed.
A small number of high potential startups will be selected to take part in the 12-week program beginning from October 25th 2021. The program shall also provide rapid prototyping support to selected startups, and Amazon Web Services Razor pay, Zoho credits to all participating startups for free. Along with that, startups will become an alumni member of the startup ecosystem and will continue to enjoy and make use of the institute’s incubation services for one year post the acceleration program.
Eligibility
- The venture should be a registered company in India.
- The venture has to be an Indian start-up. This support is not meant for Indian Subsidiaries of MNCs/foreign companies. Persons holding Overseas Citizens of India (OCI), Persons of Indian Origin (PIO) would be considered as Indian citizens for this scheme.
- The shareholding by Indian promoters in the startup should be at least 51%.
- Selected start-ups should become an incubatee of IIMUIC and should have completed three months of incubation at IIMUIC at the time of seed fund investment.
Program Timeline
- Applications Open : 27th Aug, 2021
- Applications Close : 27th Sept, 2021
- Application Screening : 28th Sept, 2021 – 15th Oct, 2021
- Result Announcement : 15thOct, 2021
- Cohort Starts : 25th Oct, 2021
The institute’s incubation center has already hosted three cohorts till now with various startups from ranging backgrounds having transformed their startup idea into a market product. The accelerator program will be held virtually due to the ongoing COVID-19 situation. For more details on the program, please visit- Launch-n-Zoom 4.0 | IIMU Incubation Center (iimuic.org)