Fast-track incubation centre launched for Northeast India startups
The Atal Incubation Centre-Sikkim Manipal University Technology Business Incubation Foundation (AIC-SMUTBI), launched its second cohort of “Incubation for Startups” which is called the Venture Fast Track (VFT) in collaboration with Wadhwani Foundation.
It is funded and supported by the Bill and Melinda Gates Foundation and AIM, NITI AAYOG. A total of 13 start-ups from nine states of the Eastern part of India are selected from a pool of 56 applications.
The start-ups in this program will be incubated to give them first-hand experiences on how to build their business from the idea stage to a scalable stage. With a 12 weeks structured programme including building the Most Lovable Product (MLP) instead of the conventional Minimum Viable Product (MVP) to building customer persona and scaling for sustainability and investibility.
The program is based on 15 Critical Success Elements (CSEs) that would foster confidence to the start-up founders to a more successful and tangible result-oriented outcome from the efforts each entrepreneur puts in their enterprise.
The virtual launch programme was held in the presence of Ishita Agarwal (Program Director, AIM, NITI AAYOG), Anish Somani (NITI AAYOG), Naved Ahmed (Program Lead, VFT Launch Program), Mr. Rishabh Gill (Fellow VFT, Wadhwani Foundation & NEN), Prof (Dr.) Tej Chingtham (CEO, AIC-SMUTBI) and Pankaj Anand, (Asst Manager, Programs, AIC-SMUTBI) along with the cofounders of the 13 shortlisted start-ups.
The Cohort comprises of start-ups working in sectors such as Deep Tech, Ed-Tech, AgriTech, Social Impact, E-Commerce, E-Mobility, STEM Education, from all over India, trying to solve local and persistent problems in the Northeastern region.
The founders also gave an elevator pitch briefly defining the problem each one of them is solving.
AIC-SMUTBI is the first Atal Incubation Centre in the Northeast. It has extensively partnered with multiple entities like Amazon, Google Cloud, Microsoft for Startups, Zoho Corporation, Intuit Circle, Freshworks, Hubspot, PayTM, Razorpay, Hurree, Startup India, Wadhwani Foundation, Bill and Melinda Gates Foundation, etc, to increase the startup's success stories in the Northeast region and Sikkim in particular. The incubator is sector agnostic and currently has 32 startups in its portfolio working in various domains including Space and Aeronautics, FinTech, Agritech, Tourism, Media-Tech, FMCG, Health and Wellness to name a few.