Empowering India's startup ecosystem: IIM Lucknow EIC launches two transformative programmes

The Indian startup ecosystem has witnessed remarkable growth in recent years, with a surge of innovative ideas and ambitious entrepreneurs shaping the future of various industries. As we move forward in 2024, the need for comprehensive support and guidance has become more crucial than ever. IIM Lucknow's Enterprise Incubation Centre (EIC) has stepped up to the challenge by launching two groundbreaking programmes designed to nurture and accelerate startups in India.

MediaTech Acceleration Program

In collaboration with Graphisads Limited, IIM Lucknow EIC has launched the MediaTech Acceleration Program, a joint initiative aimed at supporting startups in the media technology sector. This 12-month programme offers a structured environment where startups will receive targeted support, mentorship, resources, and networking opportunities to accelerate their progress, refine business models, and scale operations in the competitive media landscape.

The program is open to startups at any stage (idea, MVP, or revenue) that are disrupting the media sector, including areas such as media gamification and customised gaming apps, digital media and entertainment, influencer marketing, event disruptors and automation, virtual reality, automated/data journalism, live video platforms, adtech and Digital Out-of-Home (DooH) platforms, wearable journalism, and text-to-video creation.

Startups participating in the MediaTech Acceleration Program will benefit from:

• Funding opportunities
• Product development and technology support
• Tailored mentorship and capacity building
• Corporate and industry connects
• Go-to-market strategy and product-market fit exploration
• Legal and IPR support
• Global launch support
• Access to a startup toolkit, AI and IoT labs, and a supercomputer.

The application process for the MediaTech Acceleration Program is now open, with a deadline of August 15, 2024.

Apply here for the MediaTech Acceleration Program.

Startup 101 Business Incubation Program

IIM Lucknow EIC's Startup 101 Business Incubation Program is poised to become one of India's largest incubation programmes, offering unparalleled support and resources to empower entrepreneurs and develop the startup ecosystem. This comprehensive 24-month programme is divided into two phases, each tailored to address the specific needs of startups at different stages of their journey.

During the first phase, IIM Lucknow EIC will focus on capacity building through knowledge sessions, workshops, and mentor connects. The primary areas covered in this stage include product commercialisation, technology validation, customer discovery, sharpening the value proposition and product-market fit, developing a strong go-to-market strategy, and enabling data-driven decision-making.

The programme's second half will concentrate on supporting startups to grow deeper in their identified markets, capturing a sustainable share and enabling them to become fundable. This stage will cover scalable business models, driving sustainable growth, investor readiness, team scaling, global expansion, and providing access to investors and markets.

The programme offers a range of benefits to participating startups, including:

• Assured seed funding investment for the top 25% of startups in the cohort
• A unique startup toolkit worth ₹3 crore
• Access to technology labs and an in-house supercomputer (virtually available as well)
• One-on-one mentor sessions from industry and academic experts
• Market access opportunities from a unique pool of corporate partners
• Access to government funds and schemes
• Opportunity to avail funds from Corporate Venture Capital (CVC).
• Networking with VCs across India
• Startup desk support for legal and compliance activities

To be eligible for the programme, startups must be incorporated in India, hold a DIPP number, have at least one full-time founder who holds a minimum of 51% equity, and operate in any sector.

By launching these two programmes, IIM Lucknow EIC is solidifying its commitment to fostering innovation, entrepreneurship, and growth in the Indian startup ecosystem. With a focus on capacity building, market access, and global expansion, these initiatives are poised to create lasting impact on the startups they support.

Apply here for the 101 Incubation program.