The KIIT-TBI (Technology Business) incubator is calling for applications across sectors for the 2nd cohort of its Ignite the Momentum of Innovation to Market (IM2) Accelerator.
The programme is a rigorous, hands-on 90-day startup boot camp that aids promising startups with access to mentorship, investors, industry-based networking and other additional support services to help them achieve scale with their ideas and products.
A lot of startups often fail due to lack of market validation or due to short-sightedness when it comes to creating a product that solves immediate, local problems. With the IM2 Accelerator, KIIT-TBI aims to provide handholding to startups with momentum in order to establish a strong foothold in the market through the means of validating their ideas, working in tandem with them to perfect and develop a sustainable business model and fine-tuning and carving a perfect go-to market strategy. Supported by the Department of Science and Technology, the KIIT-TBI IM2 Accelerator Program is available for two stages, one where the startups at POC level enter into a new market to achieve product/market fit whereas revenue stage start-ups can scale up and expand their businesses.
The accelerator has built a comprehensive, customised network of mentors, corporate partners and investors for startups in the areas of medtech, agritech, Internet of Things (IoT), Energy, Digital health and those working in t AR/VR or ML/AI .
The initial weeks under the programme will focus on identifying the problem and its scale, pre-market research, market mapping, designing high-level solutions to the problem at hand, eventually moving over to help founders and their teams in developing the go-to market strategy and perfecting their business model, and also inculcate in them the requisite selling skills enabling them to acquire potential customers for their products.
As part of its first cohort, the IM2 Accelerator had incubated startups like X-Bionic Labs, Ameliorate Biotech, H2M Food and Beverages and Bariflo-Labs, among others, with the startups being spread across sectors like AI/ML , agritech, audio-technology and agriculture.
The selection procedure for startups involves online screening of applications, where the selected startups will then have to pitch their product to an elite panel of investors and industry partners at the KIIT-TBI, Bhubaneswar. With the top-12 startups being selected for the accelerator programme, they would undergo a rigorous 90-day programme which would conclude at the ‘Demo Day’, where top 3 selected startups will be receiving direct investment from KIIT-TBI.
The application deadline for the programme is on the 15th of August,2019.
Last day to apply – 15th August 2019
Website – https://im2.kiitincubator.in
To apply for Product track visit – http://bit.ly/IM2-Product
To apply for Market Validation track – http://bit.ly/IM2-Market.