N-SIP(NIFTEM Start-up Incubation Prog)
About N-SIP(NIFTEM Start-up Incub...
N-SIP is a uniquely designed incubation & business acceleration program, structured across two phases.
Phase-I: Residency- Workshop
A two(2) weeks intensive "Residency- Workshop " period, where the selected startups will be based at the NTIBIF, NIFTEM. This phase of the program is designed to focus on some of the fundamental aspects critical for product development and business. The key aspects and benefits of this phase will have a significant focus on:
- On campus mentoring by industry experts
- Classroom sessions by technical and business experts
- Product designing workshops
- Market connect and networking
- Valuation & Fund Raising
The effort through this phase will be to ensure right product market fit, strong team, business connects, and the right foundation for a sustainable business.
Towards the end of Phase-1, the selected startups of this phase will make a presentation to an expert committee of subject matter experts and professionals. This committee of experts will evaluate the performance of the startups through the course of phase 1 and shortlist startups ready for acceleration in Phase-2 of the program.
Phase-II: Incubation & Funding support
Phase 2 of the program, “Incubation & Funding Support”, is an extremely focused 'high growth' phase of the program, designed for the startups shortlisted from phase 1. Few selected startups from this phase will be fast tracked with funding support of upto INR 5 Lakhs, which will be made available to startups in tranches or milestones driven approach, and 'on ground' focused hand holding.
''On ground' focused hand holding, one of the key features of this initiative will be to facilitate support through focused market access initiatives with the help of 3-4 dedicated industry mentors, scientists & professionals, lab & research facility support, and startups will be connected with deep network of investors, which include active angel investors, and venture capital funds, through the course of the program.
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