LAUNCHPAD

IIT Ropar Technology Business Incubator Foundation (IITRpr-TBIF) – A Section 8 non-profit Company of IIT Ropar established under NIDHI grant from DST, GOI invites applications for its new seed funding scheme for entrepreneurs - Launchpad.

About the Scheme

Launchpad is an initiative of IITRpr-TBIF to fund new and aspiring entrepreneurs to launch their business with initial seed funding to incorporate their company and build a prototype in a span of one year.

What is on offer?

The grantees will get the following support from IITRpr-TBIF:

  • Funding of up to Rs 18000/- for new company incorporation.
  • Seed grant of up to 4.5 Lakhs per company in 3 competitive phases.
  • Phase 1 (4 months)Phase 2 (4 Months)Phase 3 (4 Months)
    Rs. 1 LakhRs. 1.5 LakhsRs. 2 Lakhs
  • Companies selected into phase 2 or 3 may avail soft loan up to Rs 20 Lakhs.
  • Free co-working spaces and subsidized personal working spaces.
  • Free power and free high speed internet
  • One personal computer per company free of cost.
  • Access to high performance server of TBIF.
  • Access to electronic and mechanical prototyping facilities of TBIF.
  • Membership of the Entrepreneurship library of TBIF.
  • Funding for availing external expert mentorship.
  • Access to our networks of VCs and Angels.
  • Financial support for patenting.
  • Subsidized hostel facility based on availability.

Selection and evaluation process

  • Applications shall be received in online mode through TBI website: www.tbifiitrpr.org/launchpad
  • Last date of receiving completed applications is: 15 February 2021
  • Internal committee of TBIF will perform basic eligibility and quality based shortlisting of applications.
  • Selected applications shall be called for a presentation before an expert committee.
  • They would need to pitch their ideas in brief (7 Minutes presentation and 5 minutes Q/A)
  • Applicants finalized by this committee will be selected into phase-1. Here they will be provided with company incorporation charges and seed funds of 1 Lakhs for 4 months. They will be formally incorporated into TBIF and will have access to all other facilities listed above.
  • These companies will be evaluated after 4 months again by an expert committee.
  • Only about 50-60% of the phase-1 companies will be selected into phase-2 based on their performance in phase-1.
  • Phase-2 companies will be given additional seed funding of Rs. 1.5 Lakhs for next 4 months. The Phase-1 companies not selected into phase-2 may continue to be incubated at TBIF if the committee doesn’t find them seriously lacking in their performance.
  • Phase-2 companies will be evaluated after 4 months again by an expert committee.
  • Only about 50-60% of the phase-2 companies will be selected into phase-3 based on their performance in phase-2.
  • Phase-3 companies will be given additional seed funding of Rs. 2 Lakhs for next 4 months. The phase-2 companies not selected into phase-3 may continue to be incubated at TBIF if the committee doesn’t find them seriously lacking in their performance.

    • Eligibility

      Indian nationals with new ideas for entrepreneurial venture can apply. Individuals with already incorporated companies (Incorporation date not before 01 Aug 2019) can also apply.


      Thrust areas

      IT & IT Enabled Services, Health Technology, Agriculture, Manufacturing, Clean Energy & E-Commerce.


      Equity

      IITRpr-TBIF will charge equity at a base rate of 0.5% for all companies incorporated into TBIF. In addition to that we charge additional 0.5% per 1 lakh funded to a company. These will be in form of preferred shares of the company.


      Last date of application

      27 February, 2021 28 February, 2021

      For any query contact:
      Phone: 01881 – 235216 or 94174 – 84881
      Email: tbioffice@iitrpr.ac.in

      Apply Now