Drishti 2.0 Incubation Program for Startup
Drishti 2.0 Incubation Program for Startup
Foundation for Innovation and Entrepreneurship Development (FIED) announces Drishti 2.0, an incubation program under the Department of Science and Technology, Govt. of India. It is designed to help early-stage to mid-stage startups looking for a kick-start and connections.
This program creates the optimal environment for such startups to scale up by providing support in the form of a Startup Kit and connecting the company with its widespread network of evaluators and mentors, who are also investors, accelerators, and industry veterans.
Note on FIED
FIED is the incubation center of the Indian Institute of Management Kashipur, which is an initiative to nurture and strengthen the entrepreneurship ecosystem of India. With the help of the Ministry of Agriculture, Department of Science and Technology, Uttarakhand Government, and other supporting partners, FIED is set to incubate the most promising start-ups of India in the domains of Tourism and Hospitality, Agriculture, Art and Craft, and Education.
The objective of Drishti 2.0
The key objective of this program is to allow seemingly matured startups to accelerate their growth instead of getting plateaued after a year or so, a phase that kills most of the startups in India.
Eligible Startup for Drishti 2.0
The following type of startups can apply for the Drishti 2.0 Incubation Program 2021:
- Ideation Stage Startup
- Validation Stage Startup
- Early Traction Startup
- Scaling Stage Startup
Drishti 2.0 Incubation Program program will help the following type of startups;
- Seed stage – Startup who have completed prototypes and now looking for pilot runs
- Early-stage – Startup who have the final product ready and looking for commercialization
Eligibility Criteria for Drishti 2.0
The eligibility criteria for startups to participate in the Drishti 2.0 Incubation Program are as follows:
- The startup should have at least a prototype, MVP, or pilot product/service
- The startup should have innovation in its product/service
- The startup should be a registered entity
- The startup should have at least Rs. 10,000revenue
- The startup should provide a product showcase video of at least 2 minutes along with the process, facility, team, etc
Benefits offered to Startups
Being a government-backed Incubator, FIED offers all possible institutional support for start-ups incubated with them
- The selected startup under Drishti 2.0 will get One-year incubation at FIED IIM Kashipur and One month of the training program at IIM Kashipur (Virtual).
- The FIED will Help startups in crafting a Marketing strategy
- Product validation is also done by the incubation center
- Two newspaper articles about the startup (in Hindi and English) will be published by FIED
- Support in all 4Ps and startup can Learn methodologies and procedures to apply
- Promotional Ideas will be provided to selected startups
- The selected startup can build one free stall at the annual startup expo
- Supply chain management will also be provided under the Drishti 2.0
- FIED will create an opportunity to Access IIM professors to discuss the startup’s problems. ( Vast network of people involved in IIM Kashipur)
- Direct entry to the Investors’ meet where more than 30 national level investors and 7 International Investors meet to fund the selected startup.
- IIM Brand name will be provided and startup will get a chance to be on the FIED website in the “our startups” section
- Entrepreneurs will be given the URL of any training program that is undertaken by FIED within the year of incubation.
- One to one dedicated mentorship program will also be provided to startups
- Funding opportunities up to 50L will be given to startups
Drishti 2.0 Incubation Program is looking to collaborate & work with startups in any of the following themes:
- Advertising and Architecture Interior Design
- AR VR (Augmented + Virtual Reality)
- Automotive, Art & Photography
- Animation and Computer Vision
- Telecommunication & Networking
- Construction, Agriculture, and AI
- Green Technology, Events and Fashion
- Finance Technology and Enterprise Software
- Food & Beverages and Design
- Education and Renewable Energy
- Healthcare & Lifesciences and Internet Of Things
- IT Services and Marketing
- Nanotechnology, Media & Entertainment
- Social Impact and Social Network
The relevant service type for Drishti 2.0 Incubation Program for Startup 2021 is as follows:
- Location-Based Services
- Online Aggregator
The following incentives are offered under the Drishti 2.0 Incubation Program 2021:
- Funding Upto 50 Lacks is provided to selected startups.
- Mentorship and Networking support is provided to selected startups
- Peer learning will be offered
- Hands-on one month training and Incubation support also provided
The incubation fee for Drishti 2.0 is Rs.25000 + 18% GST . The IPR protected with an approved patent will have incubation fees waived off.
TimeLine of Drishti 2.0 Incubation Program
|Application Opens||13th October 2021|
|Deadline to Apply||10th November 2021|
|Application Result Date||13th November 2021|
The Application Procedure for Drishti 2.0 Incubation Program is explained in detail below:
The startups need to access the official website of the Foundation for Innovation and Entrepreneurship Development.
From the homepage, click on the Apply to Drishti 2.0 option, the link will redirect to the application page.
Provide the following details in the application:
- Name of the Applicant
- Email and Contact Number
- Date of Birth and Age of Applicant
- Highest Educational Qualification
- Name of Company
- Legal Status of Company
- Industry/Focus Sector
- Website URL
- Brief about the Innovation and Technology
- Details about the problem that startup is solving
- Stage of Product/Service
- DPIIT certificate
- Team Member Details (Name, Education, Experience)
- Detail about the Unique Selling Proposition (USP) of the product
After providing the details click on the submit button, Shortlisted applicants will be called for a “Pitch Session” to pitch about the startups. Final results will be announced on 13th November 2021
Post by Renu Suresh
Renu is experience content writer specialised in compliances and company rules.