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The Ignition Program
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The Ignition & Kick-start Programs

About the program

The Ignition and Kick-Start programs at Venture Center aims to nurture and advance technology projects that have significant potential for being incorporated into independent start-up ventures after reducing certain uncertainties or technology de-risking following more proof-of-concept studies or aggregating certain key missing components prior to new venture creation.

Example situations are:

  • A research group has promising early-stage technology leads and results. It needs a stage of Proof-of-Concept (POC) studies and market research before creating a start-up venture.
  • An entrepreneur has an attractive business idea and some elements of the technology but needs to complete the technology components or carryout further POC studies or bring-in one or more technology provider partners.
  • A young (less than 3 years) start-up company that needs to go through Proof-of-Concept (POC) Studies before becoming investment ready.

The Ignition program was announced and initiated by Venture Center on 1 July 2012 and Kick-Start on 27 September 2014.

 

Eligibility

  • Early-stage technology results with considerable commercial potential
    • Preferably, with provisional patents already filed.
  • Category 1: For Projects at Pre-Incorporation Stage:
    • o Clear commitment of the project team to creating a new start-up venture if the Ignition/ Kick-Start program yields positive results
    • One key person in the project team who takes responsibility for creating the new start-up venture at the end of the Ignition/ Kick-Start program if the program yields positive results
    • The project team has to ensure that the rules of the parent organization or employer do not prevent them from creating a company and/or sourcing the technology under consideration.
    • A company has not already been created
  • Category 2: Young (less than 3 years) , technology (knowledge intensive) start-up companies
  • At this time, the Venture Center is able to only support a limited number of projects/ potential companies under this program at any given time.
  • The Venture Center reserves the rights to refuse any application without providing a reason.

 

Key activities anticipated during the Program

The Venture Center team will mentor the entrepreneur /innovator for the following activities.

Ignition Kick-Start
  • Technology/ IPR/ capabilities assessment. IPR strategy securing protection and FTO.
  • Sharpening of value proposition. Identifying target applications where value proposition is strongest.
  • Defining key proof-of-concept studies required and demonstrations/ answers required for key questions/ technical risk factors.
  • Raising funding for POC studies (for example from sources like the Biotechnology Ignition Grant of BIRAC or TePP scheme of DSIR)
  • Mentoring and sounding board for business planning and sharpening of it.
  • Building partnerships with technology providers and others who understand markets etc.
  • Soft pitch to potential investors to get company off the ground
  • Additionally some activities listed under Ignition program may be relevant

 

Potential roles of Venture Center

The Venture Center will assist project teams in achieving their goals depending upon the specific needs of each project team.

  • General advise and mentoring
  • Guidance in raising funding—especially grant funding
  • Assistance in trying to find potential partners and finalizing arrangements between partners
  • Services and analytics support relating to IPR
  • Assistance in market research and business planning
  • Company formation and management
  • Access to facilities, resources, programs, networks etc of the Venture Center

All the above services shall be provided against terms announced separately by Venture Center for each of these services.

 

How to apply:

  • Please study these "Terms and Conditions". Highlights of Terms and Conditions are provided below for convenience:

    Ignition Kick-Start
    • Rs 1000 per year; first 5 hours free advisory service
    • Rs 200 per hour after first 5 hours are over.
    • Rs 5000 per year; first 5 hours free advisory service
    • Rs 1500 per hour after first 5 hours are over.

    • Venture Center shall provide its services on the assumption that the project team will raise funding (ex: grant funding) so as to also accommodate Venture Center's listed costs in offering those services.
  • Use this Application Form to apply
  • Process:
    • We acknowledge receipt immediately
    • This is followed by 1 or 2 meetings with the applicants to understand the technology and plans of the project team
    • o The decision for participation in the Ignition and Kick-Start programs is concluded within 2-3 weeks.