IIMK LIVE JUNE 2021

Laboratory for Innovation Venturing and Entrepreneurship

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. more

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Venture Information

Are you a registered company in India?
Please specify your Registration No and Pan No
How long have you been working on this idea?
With what industry does your venture most closely align?

Venture Market Opportunity

What's the problem you are looking to solve? Describe the market opportunity.
Describe your solution (what will you make or do)? For whom are you solving this problem?
How do you intend to acquire customers or reach your key stakeholders?
How big is your market, what % of that market do you hope to capture, and what segment you plan to capture first?
Who are your competitors, and who might become competitors?
Are you for-profit or non-profit?

Venture Status and Progress

What potential industry partners and/or customers have you met with to validate your idea?.
At what stage are you in developing your venture's product/offering?
What is your funding model and/or plan to generate revenue?
How much funding have you received to date?
Please itemize the amounts from each source. (i.e. Competition/Challenge Prizes; Friends/Family; University funded/grants; Angel funding; Venture Capital; Crowdfunding; Revenue.)
Have you participated in any other startup incubator or accelerator programs for this venture?
Please provide details
Share with us your timeline and corresponding goals for the next 9-12 months.
Describe your strategy for achieving these goals.

Venture Team Information

Name of Lead Team Member.
Address
Team Leader’s Primary Role
Team Leader's Nationality
Education (Qualifying Degree/ Certificate, university/ Institution, Year)
Will the Team Leader work at the LIVE HIVE on a regular basis? (at least 1 day/week)
How many team members (including yourself) will be utilizing the LIVE HIVE?
How many desks will you need for your team?
Is any of the team members an alumnus of any of the following IIMK Program?

Venture Space Requirements/Community Orientation

Why do you want to be part of the IIMK LIVE Incubation Program?
We encourage teams to "contribute" to the community. Please indicate an area on which you could contribute to a roundtable discussion, or a community-building event you could organize during your time at IIMK LIVE, if accepted.
How many employees do you expect to have in one year?
What primary positions are you seeking to fill in the next year?
Are you applying for:
If applying for LIVE HIVE, Provide following details If admitted, when would you like to move in the facilities?
How long do you see yourself utilizing this workspace?
What services would you want/need from the LIVE HIVE?
Do you require storage space larger than a file cabinet or special facilities like wet lab, fab lab, test lab etc. for your venture?

Other

How did you hear about the IIMK LIVE?
Any additional information that you think would be helpful to consider your application.

Declaration

I certify that the information set provided above is correct. Further, our entity Is registered under company’s act in India or would be registered within 3 months from the confirmation date of admission. Is registered within last 7 years (ten years for Biotechnology startups). Is not having annual turnover exceeding INR 25 Crores in any precedding financial year. Is working towards innovation, development, deployment and commercialization of new products, processes or services driven by technology or intellectual property; and Is not formed by splitting up or reconstruction of a business already in existence.

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