Guwahati: Budding entrepreneurs of the state can apply for a tailor-made programme to realise their startup dreams and avail of various benefits provided by the Assam Government along with IIM Calcutta Innovation Park.
After a long wait, Assam Startup and IIM Calcutta Innovation Park have come up with COHORT 4.0. Interested startups can click here and Apply for COHORT 4.0.
The startup ecosystem in India has been booming since 2021, with the steadily growing confidence of investors in Indian startups. It’s pleasantly surprising to see the unicorns, which are supposed to be extremely rare, becoming a common phenomenon today. With 44 companies in the country becoming unicorns in 2021, the numbers are supposed to reach a staggering high in 2022.
This remarkable development can be attributed to the matured startup ecosystems, smarter teams, impeccable execution and above all, the spirit of entrepreneurship. Gone are the days when the spirit of startups was only restricted to the technical hubs or advanced states alone.
Entrepreneurial aspirations have found their way into the living rooms of the Indian households today. 5 years back, no one could have imagined a startup reality show like Shark Tank India recording phenomenal success and replacing the plethora of daily soaps as a preference for the television consumers in the country. Whereas today, every 3 out of 5 youth in the country are talking about ideas and launching their startups.
While the startup fervour has seeped into the Tier 2 and Tier 3 cities of India, Assam has joined the party as well. Innovations that hitherto collected dust in the college laboratories are now enthusiastically given a chance for commercialisation. The number of DPIIT recognised startups from the state increased conspicuously from something over 300 in 2020 to 416 in August 2021.
The enthusiasm of the youths to break away from a job-seeking compulsion to start something on their own for solving a problem is one of the best news for the state. The shift has been predominantly led by the Assam Startup initiative by the Government of Assam, in collaboration with IIM Calcutta Innovation Park.
When North East India’s first state-owned marquee incubator, Assam Startup – The Nest, was inaugurated on 20 January 2019, everyone’s eyes were fixed on it; some with excited anticipation, while others with a pinch of fuss and scrutiny. The Nest had picked up the baton to identify and unleash the potential of every aspiring startup entrepreneur by sensitizing them about their latent potential and then empowering them with sturdy business know-how. Thereon, the story of Assam’s rise as a startup ecosystem only had to get bigger and better.
Assam Startup has, so far, incubated 179 startups, nurturing them at various stages of their business. 76 revenue staged startups have together generated Rs. 42.6 crore revenue (FY 20-21), while 54 incubated startups from the 3 COHORT batches have together raised a cumulative external funding of Rs 30 crore. Furthermore, 20 patentable products have been innovated by the startups incubated at Assam Startup.
Startups incubated at Nest go through a rigorous process of incubation to realise their idea/plan to market or accelerate the growth of their business. The incubation process comprises capacity building programmes on various topics of entrepreneurship to strengthen the business and revenue model, dedicated mentorship to guide on operational processes of business, market exposure and network connects to accelerate growth, working on investment readiness, Connection with potential investors and other sources of grants and funding and connect with the Startup Alumni network.
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