S. Vishnu Sharma
IIT Mandi Catalyst started its second Startup Exploration programme of 2021 with Rajesh Kumar Prajapati, Director, Department of Industries of Himachal Pradesh virtually flagging off the programme.
Along with the chief guest, the virtual event was graced by the esteemed presence of Professor Ajit K. Chaturvedi, Director, IIT Mandi, Mr. Samir Shah, Managing Partner, Peak Ventures, and faculty members of IIT Mandi.
IIT Mandi Catalyst begins great 2nd startup exploration
IIT Mandi Catalyst inauguration programme witnessed a participation of 23 startup teams including 11 from Himachal Pradesh working in sectors including Waste Management, Agrotech, Healthtech, Enterprise Management and Cleantech.
The event began with an address by Professor Ajit K. Chaturvedi, Director, IIT Mandi.
Professor Chaturvedi said this is an opportunity for all the startups to make the best use of resources and assistance provided by IIT Mandi Catalyst while you build your startup over the next few months.
Prajapati encouraged the startup teams from various parts of the country and congratulated them on their brave decision to start a venture.
He mentioned to the entrepreneurs that Himachal Pradesh got seventh rank in the country for ‘Ease of doing Business’ in 2019 by the Ministry of Finance.
‘On completing your incubation programme at IIT Mandi Catalyst, I invite all the young entrepreneurs to get the benefits of the ecosystem developed by the Department of Industries in Himachal Pradesh,’ said Prajapati.
He ensured the continued support from Himachal Pradesh Centre for Entrepreneurship Development.
Along with this, the Chief guest lauded the initiatives taken by IIT Mandi Catalyst to support budding entrepreneurs who are coming to Himachal with various business ideas and finding practical solutions for the community, state and other parts of the country.
Mr. Samir Shah, Managing Partner, Peak Ventures, shared his views with startups on how to make ideas successful.
He suggested that the entrepreneurs should choose tough problems to solve and eventually the solutions will help them to grow their business exponentially.
He emphasized on the need of entrepreneurs to be flexible and adaptable to the situations.
The 23 startups selected by IIT Mandi Catalyst will go through a rigorous training and mentoring process over the next three months after which they will present their refined ideas on a demo-day.
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Most suitable ideas will be further supported by IIT Mandi Catalyst through a one year program under various funding schemes.
It is noteworthy that IIT Mandi Catalyst has supported about 140 startups in eight startup batches till now and this will be the ninth batch of startups in the last five years.
Earlier this year, IIT Mandi Catalyst was given the responsibility by the State government to distribute INR 10 Cr under the Him Startup Yojana that provides up to INR 50 Lakhs to the startups for commercialization.
About IIT Mandi Catalyst
IIT Mandi Catalyst was launched in 2016, Catalyst is supported by the Department of Science and Technology [GoI], HPCED and MeitY.
IIT Mandi Catalyst provides incubation support to technology-based startups focused on creating value and impact in the economic and/or social sectors.
IIT Mandi Catalyst is the first incubator in HP and has supported over 140 startups that have created about 500 employment opportunities.
Over 35 awards and recognitions have been achieved by these startups. The incubator has hosted more than 100 workshops/mentoring sessions.
IIT Mandi Catalyst hosts three seed fund schemes, three grant schemes, and two state-run schemes for startups at various stages of their venture.
About IIT Mandi
Since the first batch of 97 students joined in July 2009, IIT Mandi has grown to currently host 125 faculty and 1,833 students who are enrolled in various programmes of studies in undergraduate, postgraduate and research programmes and 1516 alumni.
IIT Mandi is a fully residential campus with 1.4 lakh sq. m. buildings completed. It has a guest house with 88 rooms, a 750-seater Auditorium, campus school, sports complex and hospital.
IIT Mandi has four Academic Schools and three major Research Centers. The Schools are: School of Computing and Electrical Engineering, School of Basic Sciences, School of Engineering, and School of Humanities and Social Sciences.
The Centers are: Advanced Materials Research Centre (AMRC; set up with an investment of Rs. 60 crores), Centre for Design and Fabrication of Electrical Devices (C4DFED; has Rs. 50 crores worth of fabrication tools), and BioX Centre (has acquired research equipment worth Rs. 15 crores).
In 2017, the Department of Biotechnology, Government of India, selected IIT Mandi to lead the prestigious Rs. 10 crore FarmerZone® Project.