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Innovation Ignition Initiative

The Innovation Ignition Initiative supports innovative ideas from both industry and academia. It fosters industry-academia collaboration, for commercializing academic research. It nurtures an entrepreneurial mindset through hands-on projects, mentorship, and competitions like hackathons and start-up contests. By identifying and mentoring innovators, supporting start-ups with resources, and leveraging a network of investors and incubators, it builds a sustainable innovation ecosystem driving successful business ventures.

The Objective of This Program is to Support Institutes and Research Organisations in Commercialising Developed Technologies by Establishing Process and Policy Driven Pre-Incubation and Incubation Centers on academic premises. 

Transforming Job-Seekers into Job Creators, Build Entrepreneurial Mindset, and Support Industry in Accessing Shared Innovations for Developing New Products and Services.

Simple Steps:

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  1. Expression of Interest for Participation by Institute, Students, Innovators, Industry, Mentors, Investors and incubators.  (Registration on Portal.)

  2. Updating of Profile, Goals, and Priority by Institute, Students, Innovators,  Industry, Mentors, Investors and incubators.

  3. Audio Introduction for the Podcast by Each Entity.

  4. Self-Paced Mentor Induction to Qualify as Certified Empanelled Mentor. (For Faculty, & Consultants)

Participation Stage - I
(6 to 8 Weeks)

Simple Steps: 

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  1. Foundation Setting (4-8 Weeks)
    Action: Build faculty & expert capacity and empower them for Start-Up mentoring. Set up technology transfer systems and industry connections amongst the pre-incubation stages. Launch hackathons/challenges with industry, incubators and investor involvement.
    Platform Features and Support: Trained students can assist industries in, customising,  documenting and validating their challenges. 
    Outcome: Certified mentors who can guide innovators.
    Established systems for technology commercialization.
    Ready access to resources and mentor support for students and faculty.

  2. Innovation Readiness (4-8 Weeks)
    Action: Provide Start-Up enhancement and foster entrepreneurial mindset through Innovation and Technology Commercialisation module.
    Platform Feature: Aptitude and SWOT analysis tools for innovators. Start-up radar chart for assessing individual traits.
    Outcome: A pool of innovators with potential ideas shortlisted for incubation. Engaged students with entrepreneurial inclinations. Validated start-up profiles ready for investor connections.    ​

Participation Stage - II
(3 to 8 Weeks)

  Simple Steps:

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  1. Idea Initiation / Resonation (4-8 Weeks)
    Action: Engage innovators in refining their ideas, identifying problems, and validating them with industry feedback. Host brainstorming sessions and field validation with industry mentors.
    Platform Feature: Interactive idea validation tools and collaboration spaces for innovators and mentors.
    Field visits and industry connect features for problem-solving.
    Outcome: Innovators work on tangible ideas with clear problems to solve. Real-world validation of ideas, identifying market potential and feasibility.

  2. Idea Validation, Viability / Acceleration (6-12 Weeks)
    Action: a) Shortlisted ideas are accelerated through a program focused on business model creation and market fit. b) Innovators work with mentors to validate technical feasibility and commercial viability.
    Platform Features: a) Access to assignment for submitting Business Model Canvas (BMC) and Value Proposition Canvas. b) Guidance on customer journey mapping and validation of market readiness.
    Outcome: a) Clear, validated business models for start-ups.
    b) Ready-to-pitch business plans that can attract seed funding.

Participation Stage - III
(4 to 24 Weeks)

Simple Steps: 

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  1. Start-Up Formation (8-12 Weeks)
    Action: Legal formalities like term sheets, co-founder agreements, and funding strategy formulation.
    Prepare for investor pitches and funding rounds.
    Platform Features and Support: Assignments submission and guidelines for for legal compliance, term sheet creation, and fundraising documentation. Investor pitch deck preparation guidelines. 
    Outcome: Start-up legal framework in place, ready for funding. Established relationship with investors and a clear path for funding.

  2. Funding & Graduation (6-8 Weeks)
    Action: Showcase final products or prototypes at investor meet-ups and industry summits. Seek early-stage funding (seed or angel investment) and prepare for scale-up.
    Platform Feature: Virtual investor events and networking opportunities. Demonstration platforms for innovators to showcase products.
    Outcome: Funded and graduated start-ups. Ready for scaling up and entering the market as independent entities.    ​

Participation Stage - IV
(3 to 8 Weeks)

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