Call for Startups
Technology Innovation Hub (TiH) on "Cognitive Computing and Social Sensing" for Interdisciplinary Cyber-Physical Systems (ICPS), called iHub Anubhuti, has been established by Indraprastha Institute of Information Technology Delhi as a Section 8 Company under the aegis of the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS) of the Department of Science and Technology, Government of India. iHub provides physical and virtual incubation support for start-ups mainly in verticals - Healthcare, Education, Legal Information System, Sustainability and Cognitive Computing & Social Sensing. The selected start-ups will be eligible for a seed round of funding. The program offerings can be leveraged by entrepreneurs to advance and scale up their venture to the next stage.
- Call for Application – 4th April, 2022
- Last Date – 18th April, 2022
- Initial shortlisting of Applications to be completed by – 3rd May, 2022
- Screening of the shortlisted Applications to be completed by – 13th May, 2022
- Final Selection/Presentations to be completed by – 23rd May, 2022
- Due Diligence – After Final Selection – Till 31st May, 2022
- Start of Program – 6th June, 2022
A Startup is evaluated based on the following parameters
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1. What is Scale Cohort? Scale X cohort is an initiative of iHuB Anubhuti, IIITD and IIITD Innovation & Incubation Center to support & nurture tech start-ups with along funding avenues.
2. How can I apply for the Cohort? The start-up can apply online from the website of IIITD Innovation & Incubation Center or iHuB or through the link - https://forms.gle/MH24t2BUp15iQrYbA
3. What are the eligibility criteria for applying? • The start-up should have a company in India • The founder should be enrolled/have completed graduation and preferably have work/industry experience of about two years.
4. What is the fee for the cohort? One time cohort fees of Rs 15,000.
5. What is the selection process? The selection process would comprise of: • Application – The start-up would apply online through the application form & submit the relevant details. • Screening – After submission of the form, a Screening Committee would shortlist the applications & recommend to the Selection Committee. • Selection – The shortlisted start-ups would be called to pitch in front of the Selection Committee. • Due Diligence – The selected would undergo the due diligence including verification of founder & company credentials, legal check etc. • Onboarding – The start-ups clearing the due diligence process would be on boarded for the cohort.
6. What would be the selection criteria? The selection criteria include: • Idea of the Start-up • Stage of Start-up • Credentials of the Company • Business Plan • Completion of application • Alignment with the thrust areas • Any other
7. Does the start-up need to have a DIPP certificate before applying? It is not mandatory for a start-up to have a DIPP certificate but it is highly recommended to the start-up to register for DIPP certificate in their best interest.
8. My start-up does not have a company. Can I apply? A start-up can apply for the cohort even if it does not have a company. But the start-up would be required to register for incorporation of company as it applies for cohort. The start-up would be only on boarded if it has a company.
9. Does the start-up need to be a resident at the Incubation Center for the cohort? Yes, the start-up would be required to be a resident at IIITD Innovation & Incubation Center for a minimum period of 12 months.
10. What would be the terms of Incubation? As per the internal policies.
11. What would be the structure of the cohort? These would be shared with shortlisted companies.
12. Do we regularly need to attend training sessions? Yes, the start-up representative will be required to attend the sessions regularly. The progress & engagement of the start-ups would be regularly monitored.
13. Will the start-ups get funding? The start-up selected for the cohort may get funding of up to INR 50 lakhs.
14. What would be the terms of funding? The terms will be as per the internal policies. Funding would be released either in one or two tranches based on the decision of Selection Committee.
15. What would be the valuation of a start-up? The start-up would be valued at a fixed valuation of INR 2.5 crores in case it is a early stage seed money. In case of later stages or disagreement on valuation, the start-up may: • Present past valuation if offered by any private investment firm Or • Opt for third-party valuation at its own expense
16. Can the start-up exit the cohort in between? Yes, the start-up can exit the cohort in between but it will lead to termination of any pending tranche & recovery of tranche/s released plus 0.75 % interest per month from the first day of the month of disbursement of the first tranche of funds. Also, there would not be any refund of the registration fees or any other expenditures incurred by the start-up for the cohort.
17. What would be the implications of exiting the cohort in between? Any pending tranche of funds would be terminated & the released funds would be recovered with 0.75% interest per month from the first day of the month of disbursement of the first tranche of funds. Also, there would not be any refund of the registration fees or any other expenditures incurred by the start-up for the cohort.
18. Can I exit the incubation right after the completion of the cohort? No, the start-up cannot exit the incubation right after the completion of the cohort. In case the start-up wishes to do so, a penalty of amount equivalent to three months Incubation Fees as per trailing occupancy would be levied from the start-up.
19. Can the start-up take/buy back its equity? The start-up may be given an option to take/buy back its equity in case it raises next round of funding from any third-party investor at the higher valuation.