Startup Schemes
Dedicated Innovation AcceLerator
The DIAL scheme is post-incubation support linked with existing incubators/companies. This helps fast-track a start-up through focused intervention (Push innovations into the commercial domain) to supplement and complement the scaling up of a startup. It aims at companies to validate products/technology and engages with customers to boost existing activities. Please note that IITM Pravartak will accept proposals pertaining to Sensors, Networking, Actuators, and Control Systems for funding consideration.
Objective
- To support existing and upcoming Accelerators to select and accelerate potential product-based startups to scale.
- The program will focus on accelerating startups by providing customer connections, investor connections, and internationalization connect services.
Please note that IITM Pravartak will accept proposals pertaining to Sensors, Networking, Actuators, and Control Systems for funding consideration.
- Existing startups/companies.
- Licensable technology.
- At least one revenue-generating customer.
- Preference would be given to companies in the Sensors, Networking, Actuators and Control Systems areas.
- Financial support up to Rs. 100.00 Lakhs.
- Technical Mentorship and business mentorship, if required.
- Interactions with Potential customers to promote the technology.
- Approach to Gopalakrishnan Deshpande Centre - GDC established in IIT Madras.
Patents & Licensing
- As per the agreement with an external funding source, the IPs and technology ideas can be owned jointly between IITM Pravartak and the funding agency.
- As per the agreement, royalty will be shared between IITM Pravartak and the external funding agency.
- Startup – License fee can be substituted through equity at a mutually agreed upon evaluation.
- Joint licensing of products/technology with IITM Pravartak.
- Filed Patent.
- Jobs created.
- Number of UG, PG, and Ph.D. candidates deployed.
- Multiplicative increase in customer base.
Selection Process
The candidate is expected to prepare a proposal in the specified format with the objective, milestones, and expenditure details and submit it to IITM Pravartak during the call for proposals. Once the proposal is evaluated and shortlisted by the Technical Review Committee, the candidate will be invited to present it to the Technical Evaluation Committee (TEC). The TEC will determine if the idea is innovative and has marketing potential. If found to be eligible, the proposal will be accepted by IITM Pravartak.
Review Process
The approved projects will be reviewed on a quarterly basis by the technical review committee appointed by IITM Pravartak. The continued funding of projects will depend on the project’s progress and achievement of milestones.