The programme will focus on startup development with the support of IIITH’s deep-tech labs, functional experts, investor mentors and industry leaders.
Today there is very little structured support for early stage startups in the deep tech space, other than the very limited numbers supported by accelerators and seed investors.
Acknowledging this gap, the Center for Innovation and Entrepreneurship (CIE) at IIIT Hyderabad has launched a micro accelerator series for early stage deep tech startups.
The micro accelerator series, called TVARIT, is a unique model comprising of purpose-specific result-oriented programmes. It will focus on startup development with the support of IIITH’s deep-tech labs, functional experts, investor mentors and industry leaders.
Centre of Innovation and Entrepreneurship, also known as CIE@IIITH is a DST approved incubator which is operational since 2008. CIE@IIITH has so far supported over 200 startups and seed-funded around 30 startups.
The programme will start with a bootcamp, followed by mentoring sessions around products, markets, product validation, showcase opportunities, IIITH deep-tech lab support and market connects.
“This micro accelerator series will provide institutional capacity to every stage of startups through this series of mentor-led programs powering the startups into their next stage,” said Dr. Sonali Khanra, who heads the accelerator programs at CIE@IIITH.
First Phase of the programme
The phase 1 of TVARIT will comprise of five micro accelerators – Product Strategy 101, Product Co-creation (with research), Go-to Angels (1+Cr fund raise), First Revenue GTM and Early scale.
Applications open on September 1, 2019 and the intake capacity is limited to 15 startups per micro accelerator.
Product Strategy 101 will help startups decide on whether their idea and opportunity is compelling and viable enough, explore alternatives that could be more promising and understand the broad plans for the idea and the path to markets.
Product Co-Creation will provide startups validation of technology used in the product based on inputs from the relevant research lab, access to IIITH technology, IP and as well as technology road map.
Go To Angels – Startups will be guided on how to pitch their idea and plans to investors for 1+ crore funding – with help primarily around clear articulation of problem, opportunity, solution, value proposition, GTM readiness, near term plans and validation through pilots.
First Revenue Go To Market (GTM) will enable startups to take their product to market by targeting the right customers. It will also help them to focus on the right revenue model and design the right revenue stream under the selected model.
Ajay Jain, one of the strategy mentors, said, “TVARIT is well positioned to solve the key problem that early stage startups would require help for.”
“The programme has been devised based on rich experience within CIE and from the various mentors associated with the programme. I am confident that a programme like this can enhance the overall success rate of startups,” he added.