Planning a startup? IIT Mandi to invest Rs 16.5 lakh in innovative ideas

Indian Institute of Technology Mandi’s technology business incubator Catalyst has invited application from startups for the third edition of its annual flagship event - Himalayan Startup Trek (HST).  The event; to be held on September 14 and September 15t, 2019; will have about 30 speakers and 50 startups from across the country.  IIT Mandi Catalyst will pick handful of startups with innovative ideas and provide incubation support. The shortlisted candidates will get Rs 16.5 lakh grant and investment through an on-campus residential program from IIT Mandi Catalyst. 

Along with the budding entrepreneurs, it will be an opportunity for corporate and government organisations to join hands with IIT Mandi Catalyst and support initiatives that will benefit the society at large. Startups, innovators and aspiring entrepreneurs can apply for participation in the programme to pitch during this event and get an opportunity to meet investors/experts one-on-one. The last date to apply for the participation in the event is August 31, 2019.  

"The event aims at bringing together the stakeholders of Indian Startup ecosystem and providing a platform to young entrepreneurs to pitch their ideas for incubation support and to raise funding from investors," said an IIT Mandi statement. Startup founders can fill in the application through the event website.

In the past two years, IIT Mandi Catalyst has disbursed over Rs 1 crore in grants and investments to more than 30 startups, out of which 16 are from Himachal Pradesh. Of these, four startups have progressed into the commercialisation phase. These startups have generated more than 60 employment and internship opportunities, it said.

Himalayan Startup Trek 2019, Puran Singh, Faculty In-Charge, IIT Mandi Catalyst, said, “HST 2019 is an event that is diligently curated to benefit the early stage startups. Entrepreneur-Talks, Tech talks and dedicated one to one time with startup experts will help shape the ideas of budding entrepreneurs. We invite startups from across the country to experience first-hand the startup ecosystem that IIT Mandi is building in the hills.” 

The event will feature a portfolio of speakers ranging from experienced and young entrepreneurs, commercial investors to social impact investors, and technology experts and business experts. Early-Stage startups will learn about the fundamental aspects of running a business. Operational startups which already have some experience will get an opportunity to meet investors. Startups will also have a chance to interact with government officials and industry experts.