Post by: Renu Suresh in Business Startup

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StepUp Ventures Incubation Program for Minority Entrepreneurs

StepUp Ventures (TSUV) offers a 3 Month Incubation Program for entrepreneurs from minority and lesser privileged communities of India. The program is founder immersive, inclusive, and is a diverse virtual Incubation program for Early Stage, Product ready startups; with an opportunity for the entrepreneurs to scale, grow their ventures.

Click here to know more about Startup India Scheme.

Note on StepUp Ventures

StepUp Ventures is a for-profit incubator that focuses on minorities and the lesser privileged communities of India.

TSUV works with startups for over 3 months to help them refine their product and pitch to culminate in a demo day to potential investors.

The objective of the StepUp Ventures Incubation Program

The key objective of the StepUp Ventures Incubation Program is to provide a platform for minorities and the lesser privileged communities to enable them to scale their entrepreneurial ambitions.

Eligible Startup for StepUp Ventures

The following type of startups can apply for the StepUp Ventures Incubation Program:

Accelerator
Incubator
Investor
Mentor
Individual
Validation Stage Startup
Early Traction Startup
Scaling Stage Startup
Corporate

Eligibility Criteria

The eligibility criteria for startups to participate in the Incubation Program are as follows:

To apply for the scheme, the startup team should have at least 1 Founder from a Minority community or SC/ST or Women (As defined in Constitution of India – Muslim, Sikh, Christian, Jain, Zoroastrians, Buddhists, others)

StepUp Ventures is looking for startups that have early revenues or minimum an MVP with initial customer traction.
StepUp Ventures Incubation Program is 100% India focused and look for startups that solve the challenges of real Bharat, even if the startup is located outside of India

Benefits offered to Startups

StepUp Ventures (TSUV) offers all possible institutional support for start-ups incubated with them:

StepUp Ventures works with startups for over 3 months to help them refine their product and pitch to culminate in a demo day to potential investors.
StepUp Ventures will co-invest with other seed investors to help the startup along the journey to scale.
During this 3-month program, TSUV helps entrepreneurs build and validate their startup to scale and to garner more support from like-minded partners in the Indian Startup ecosystem on the journey to becoming a world-class enterprise.
TSUV two-tier team of coaches and mentors helps the startups to navigate in their quest to grow and improve their business.

Focus Area

The Step-up Venture is sector agnostics and engages in a diverse range of startups in the tech industry, from marketplaces to SaaS, from media to AI. StepUp Ventures 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 And Art & Photography
Animation And Computer Vision
Construction And Agriculture
Green Technology And Fashion
Food & Beverages
Design, Education, And Renewable Energy
Healthcare & Life Sciences
Internet Of Things And Marketing
Media & Entertainment
Retail, Sports And Social Impact
Social Network, Textiles & Apparel
Transportation & Storage
Logistics, Travel & Tourism
Safety, Passenger Experience, And Waste Management
Toys And Games

Service Type

The relevant service type for StepUp Ventures Incubation Program is as follows:

Government, Hyperlocal, and Discovery
Location-Based Services and Manufacturing
Marketplace and Mobile
Offline and Online Aggregator
Peer To Peer, Platform, and Consulting
Consumer Internet, Engineering and E-Commerce
Rental, Enterprise Mobility and Research
Sharing Economy, Social Enterprise, and SaaS
Subscription Commerce

Incentives Offered

The following incentives are offered under the Incubation Program:

Fiscal Incentives

Fundraising :

During the program, startups will learn how to run an effective fundraising process, how and when to talk to investors, and how to effectively tell their story.

TSUV shall invest up to Rs.10 lakhs in some of the qualifying ventures and the startups are provided an opportunity to pitch the story and idea to the Network of Investors, Angel Funds, VCs, etc in the form of a Demo Day/Investment Day.

Perks and Benefits:

Amazon (AWS) – Credits worth $5,000
Google Hosting – Credits up to $100k
DigitalOcean – Credits Up to $10k
Freshworks – $10k across the suite
IBM Cloud Credits – $120K

Note: And many more adding every day worth Rs.2 Crores+ for scaling and growing your venture.

Non-Fiscal Incentives

Coaching & Training

A tailored 3 Month program with monthly checkpoints will be offered to make the incubation program more action-oriented. Access to trainers, startups tools, and templates would be provided that would help the startup become investor-ready.

Mentorship

This incubation program offer Access to TSUV’s team of seasoned entrepreneurs experienced investors, and individuals with considerable expertise in their field to give feedback and offer guidance.

Network Access

TSUV provides access to over 25,000+ Industry Leaders, Accelerators, Funds, Investors, Mentors, service providers, and subject matter experts. TSUV network consists of Startup Accelerators, Funds, Corporates, and many more organizations.

Culture

TSUV culture is best described in one hashtag: #ScaleupBharat. This means a focus on solving the challenges of the real Bharat and understanding its needs.

TimeLine of StepUp Ventures Incubation Program

Application Opens	27th October 2021
Deadline to Apply	30th November 2021
Application Result Date	20^th December 2021

Application Procedure

The Application Procedure for StepUp Ventures Incubation Program is explained in detail below:

The startups need to access the official website of StepUp Ventures (TSUV). From the homepage, click on the Apply option, the link will redirect to the application page.