Intel India and IIT Bombay have collaborated to launch an 'incubation' program for hardware and systems startups. The Department of Science and Technology (DST) of Intel India and IIT Bombay's Society for Innovation and Entrepreneurship (SINE) have designed it.
The program aims to support through mentoring, training, lab facilities, hardware kits, prototyping, business services and funding. It will address gaps in the startup fraternity that companies face in-product design, development, commercialisation and creating scale for their solutions.
"DST is deeply committed in supporting technology and entrepreneurship initiatives that are of relevance to national needs. For the first time, DST, Intel and SINE are collaborating to incubate hardware and systems startups in India," said HK Mittal, Advisor, National Science and Technology Entrepreneurship Development Board, DST in a statement.
DST, Intel India and SINE aim to support up to 20 start-ups under this program, and the call for applications for the first batch will be announced soon.
- During the year-long program, startups will be supported for six months on-site at SINE, IIT, Bombay or Intel India, Bengaluru. After a period of six months, the startups' solutions will be showcased to investors and industry players at a demo day, post which, the program will extend virtual support for another six months.
- Participating startups will be incubated through intensive training periods, one-on-one mentoring, technology related support from Intel experts, business service support from SINE, as well as prototyping and manufacturing support, the joint statement added.
On the other hand, Intel India will build capacities through mentors and provide technology related support for productisation. It will also facilitate ideation, design thinking, prototyping workshops and manufacturing support through industry experts.