IIMT Innovation & Start-up Policy

To encourage students to start their own  enterprise and ensures such
entrepreneurs imbibed with leadership qualities using innovative and ethical
business practices to make global impact.
1.IIMT Innovation and Start-up Policy,
aims to enable its students get first-hand experience in entrepreneurship,
promote innovation driven activities at the institute and provide comprehensive
and integrated range of support including space, mentoring, training programs,
networking and an array of other benefits.

2. IIMT Innovation and Start-up Policy, nurtured to be the hub of innovative and
high impact ventures in social, educational, commercial and other domains.

Our Mission

1. IIMT Innovation and Start-up Policy, aims to enable its students get first-hand experience in entrepreneurship, promote innovation driven activities at the institute and provide comprehensive and integrated range of support including space, mentoring, training programs, networking and an array of other benefits.

2. IIMT Innovation and Start-up Policy, nurtured to be the hub of innovative and high impact ventures in social, educational, commercial and other domains.

Our Vision

To encourage students to start their own enterprise and ensures such entrepreneurs imbibed with leadership qualities using innovative and ethical business practices to make global impact.

THE INCUBATION CENTRE

  • The Incubation Centre nurtures technology ventures through their start-up phase by providing all the support necessary to help entrepreneurs establish themselves before they scale up their ventures.
  • IIMT Incubation Centre (IIMT-IC) seeks to support entrepreneurs translating innovations into products and services that are commercially viable.
  • Through the Incubation Centre, students gain hands-on experience in innovation and entrepreneurship while being nurtured and encouraged by faculty, management and industry experts.
  • The scope of support is envisaged to be broad-based and covers technologies/ IP developed wholly at the institute or partly through collaborations elsewhere.
  • The (IIMT-IC) will also be open to considering proposals with strong social and strategic impact.

OPERATING MODEL

  • The IIMT Incubation centre at an operational level is responsible for nurturing innovative ideas by handholding the students through the business proposal stage, identifying the target market, creating a minimum viable product/ service, technological guidance, industry exposure, pre-launch activities, consumer feedback and exposure to the investor community.
    Students may be offered shared office space at IIMT-IC on a case-by-case basis. IIMT-IC will also actively support students with a combination of inputs including:
  • a)Branding – Students may apply for permission to brand themselves as “IIMT Incubated Company”
  • b)Get support on obtaining recognition under STARTUP INDIA program, DIPP, GoI.
  • c)Business support services – In-house consultants offering Accounting, tax, company secretary, legal and IP services
  • d)Mentoring - Alumni mentors (by IIMT Entrepreneurship Forum): monthly clinics. Entrepreneur-in-Residence: interact with entrepreneurs, industrialists.
  • e)Permission to use laboratories, workshop facilities and equipment at IIMT.
  • f)Seed Funding – IIMT Startup Fund and Government Seed Support (MSME grant, DST-TDB/DeiTY seed funds).
  • g)Networking - Engage actively with each other to leverage collective knowledge and networks.
  • h)Introduction to Angel investors/VCs/financial institutions; IIMT visitors (industry, alumni).
  • i)Supporting innovation & pre-incubation activities in IIMT campus.
  • j)Training - leveraging resources of IIMT alumni network.

INCUBATION CENTRE SELECTION PROCESS:

  • 1.Submit an application in the prescribed format to (IIMT-IC) through the concerned department.
  • 2.Screening by IIMT Innovation and Start-up Committee (Proposals are examined with attention to financial, technical and social impact parameters)
  • 3.Final approval by the committee
  • 4.Agreement executed to formally commence incubation at IIMT Innovation and Start-up.

ELIGIBILITY

  • The IIMT Incubation Centre seeks to support all members to translate innovation into products, processes and services that are commercially viable. Admission to the Incubation centre is open to:
  • 1.Students (Current and Alumni <2 years)
  • 2.Faculty and Staff (Current) including Adjunct faculty

SCHOLARSHIPS

  • The IIMT Scholarships are awarded to students with financial need, as determined by the IIMT Innovation and Start-up Committee. It is a merit cum means scholarship. Any student who is economically weak, and/or from a rural area is eligible to apply. The applicant must furnish the relevant details as proof of his/her eligibility. A good academic record is a must.
  • The following document(s) are required.
  • • A community / income certificate from an official, not below the rank of a revenue inspector.
  • • Statement of Marks.
  • • Incomplete applications will not be accepted.

ACTIVITIES UNDER IIMT INNOVATION AND START-UP POLICY

Aim For Excellence