Special Calls

Launchpad (Second Edition)

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 June 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 (Now extended)

      25 July, 2021

      For any query contact:
      Phone: +91 - 9417484881
      Email: office-tbif-mgr@iitrpr.ac.in

      Apply Now


      Matching Grant Seed Funding

      If you are a startup who has raised or in the process of raising funds from any Punjab based investment firm/industry, IIT Ropar TBIF has a special corpus through which we can support you by providing a matching grant up to Rs. 20 Lakhs.

      This investment will be a seed or series funding against equity. Prior written commitment from investment counterpart is essential.

      If you are an eligible startup or an investor with your registered office in Punjab, then send us a brief proposal over email to tbi.incharge@iitrpr.ac.in

      ASIIM Through TBIF

      This is a great opportunity for start-ups led by SC founders under Ambedkar Social Innovation and Incubation Mission (ASIIM) Under VCF-SC. Venture Capital Fund for Scheduled Castes (VCF-SC) a scheme launched by the Ministry of Social Justice and Empowerment (MoSJ&E), Government of India (GOI), which was launched in January 2015 for promoting entrepreneurship and providing concessional finance .

      https://www.vcfsc.in/asiim/index.html

      Last date of application: Open all year

      Funding opportunity:

      • IIT Ropar-TBIF will fund the company incorporation.
      • SC led startups identified by IIT Ropar-TBIF will be recommended by us for the ASIIM scheme and have a good possibility of securing funding of Rs. 30 Lakhs. 

      Other facilities:

      • Subsidized co-working spaces and personal working spaces.
      • Free power and free high speed internet
      • One personal computer per company
      • Access to the 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.

      Eligibility criteria:

      • Applicants should be at-least 18 years of age.
      • The primary applicant should belong to the Scheduled caste.
      • The primary applicant should have a team size of at-least two (including the applicant).
      • SC led pre-incorporated companies can also apply.

      Terms and conditions:

      • There can be non-SC applicants in the team however, all the team members of the team should upload an undertaking stating that they agree that the total shareholding of SC promoters should be greater than, or equal to 51%.
      • The only financial support that TBIF will give under this scheme, will be Company incorporation support and any other required procedures, such as DPIIT registration. 
      • Any new company incorporated specifically under this scheme needs to secure ASIIM funding within 1 year from the date of incubation with IIT Ropar-TBIF. If they are not able to secure this funding then their incubation with IIT Ropar-TBIF will be terminated.
      • VSF-SC will fund against Optional Convertible Preference Shares (OCPS)
      • IIT Ropar - TBIF will charge an equity of 1% to the incubated startups for the facilitation of this process.

       

      For application please contact: office-tbif-mgr@iitrpr.ac.in

      Selection process:

      IIT Ropar - TBIF will form a selection committee that will evaluate applications received and recommend for incubation.