In an attempt to boost the entrepreneurial ecosystem and empower future innovators of the country, the Indian Institute of Technology, Kanpur and Indian Institute of Management Lucknow has launched an accelerator program for startups. IIM Lucknow Enterprise Incubation Centre (IIML EIC) and Technopark of IIT-Kanpur have already signed a Memorandum of Understanding for this new course. This six-month accelerator program aims to support early-stage growth-driven companies in DeepTech and the Internet of Things. Read on to know more about this accelerator program here.

Registrations to continue till April 30

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In what can be termed as a rare occasion, two of the top Indian institutes of higher education have entered into a strategic alliance to provide a platform for connecting academia in addition to opening new routes for sharing resources in the country. While the registration for this new program has already started, the last date to receive the application is April 30, 2022.

According to an IIT Kanpur official, "The association between IIT-Kanpur and IIM-Lucknow may serve as a benchmark for other IITs and IIMs to follow. India is witnessing an unprecedented boom in the innovative start-up ecosystem of the country and in the current scenario the motto of "self-reliance" and 'Make in India' and start-up holds more prominence than ever before."

Eligibility criteria & program offerings

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According to the eligibility criteria mentioned by IIM Lucknow EIC, only a registered entity with a 51% stake held by an Indian founder/director working in Deeptech/Industry 4.0/IoT/Emerging Technology sector can register for this course. In addition to this, the emerging startups are required to have at least a proof of concept or working prototype as well.

Under the ambit of this program, selected startups will not only get tailored mentorship and support from the best of the industries but also assured funding support as well. In addition to this, startups will be offered opportunities to expand into global markets and provide strategic alliances and corporate connections. The selected startups will also get capacity building through other programs by experts from IIM Lucknow and IIT Kanpur and access to funds, investors, and funding agencies.

Moreover, if selected, the startups will also get access to world-class research and technical lab facilities along with office space for six months. With this program, IIML-EIC aims to create a holistic set of offerings for the selected cohort and enable an overall growth of the DeepTech ecosystem. To know more about this program, check out the official website of IIML- Incubator.

What is DeepTech and IoT?

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DeepTech, or deep technology, refers to those startups whose business model is based on high tech innovation in engineering, or significant scientific advances.

On the other hand, the internet of things, or IoT, is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that use unique identifiers (UIDs) to transfer data over a network. This transfer does not even require a human-to-human or human-to-computer interaction.