Laboratory for Innovation Venturing and Entrepreneurship
About IIMK LIVE
What is the Business Incubation Program all about at LIVE?
Incubation program at LIVE intends to provide support and services to the Startup enterprise in good faith to pursue its objective to promote entrepreneurship. LIVE incubation program would support the startup firm for a period of one year from the date of introduction into the program. Two further extensions can be granted for six months each at a time, at the sole discretion of IIMK LIVE. The incubation program at LIVE is designed to support start-up enterprises in Business Model Validation and Product-Market fit stages. In the figure below, Enterprise
What benefits Start-ups get in the Incubation Program at LIVE?
Start-up firms incubated at LIVE would be provided with smart, wi-fi enabled, co-working spaces with meeting/ conference rooms and other necessary office facilities at highly subsidized rates. Apart from the office spaces, Start-up enterprises would be provided mentorship support by subject matter experts from IIMK faculty and/or industry. Start-ups at LIVE apart from benefitting from community of peer-start-ups, the faculty and the students in various programs at IIM Kozhikode can benefit from Networking events, seminars and workshops. LIVE would support Start-ups by providing access to investors – angels and venture capitalists. Recognition is one of the benefits Start-ups can look forward to as selected enterprises at LIVE would be considered bonafide Startups and can use the affiliation to benefit from government schemes and programs for start-ups and to promote the business by appropriately using ‘incubated at IIMK LIVE’.
What is the eligibility requirements for applying to Incubation Program at LIVE?
Incubation Program at LIVE is open to any entrepreneur/ Start-up and is not restricted to the ones promoted by IIMK students/ alumni/ faculty members. Those associated with IIMK may get priority for the similar merit of the idea. The venture, however, should be ready with proof-of –concept/ prototype and should be a registered firm (should be registered in 3 months’ time from confirmation of admission) to be eligible.
While LIVE seeks to develop resources to focus on a few thrust areas so that it can provide intensive support and services to the Start-ups part of the incubation program, at this juncture it would not restrict applicants based on technology/sectoral focus. It is, however, important that the business idea/ product is innovative.
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