Pune’s startup community, and other technology innovators, are invited by Intel Corp., IIM-Ahmedabad’s CIIE, and the Government of India’s DST, to an event to launch the Intel and DST – Innovate for Digital India Challenge, at 11am on Wednesday, 20th May, at Westin Pune.
This event will feature Dr. Gopichand Katragadda, CTO of TATA Sons, Mr. Sachin Kelkar, Head – Developer & Partner Program (APAC), Intel India & other dignitaries.
The event will launch the Digital India Challenge – which is essentially an accelerator/funding/grant/mentorship program for startups in Pune and Bangalore. The program offers startups the following:
3-month accelerator program in Pune and Bengaluru
Access to grants and equity investments of up to Rs. 1.5cr
Product kits based on Intel architecture to develop MVPs
Industry connect across various phases
Mentorship, field immersion, and productization opportunity
The Venture Center is a not-for-profit technology startup incubator hosted in the National Chemical Laboratory (NCL), Pune. One of the services they provide their incubatee startups is a guide to the various government funds and schemes that a technology startup can avail of at different stages of their development, depending upon meeting certain criteria.
You can simply browse this information, and read the rules and regulations of each of these 38 funds/organizations. Or, if you want to be handheld your way through the maze, you can avail of Venture Center’s advisory services.
For more information about Venture Center, you can see PuneTech’s interview of Kaushik Gala, the business development manager for Venture Center.
What: IIT-Bombay Alumni Association Pune presents an introduction to the Venture Center (see recent PuneTech coverage of Venture Center) When: Friday 10th July, 6:30pm to 8:00pm Where: Venture Center, NCL Innovation Park, Pashan Road. To reach Venture Center, go past NCL towards Pashan, pass the cricket ground adjacent to NCL and then you’ll find NCL Innovation Park / Venture Center on the right hand side. Map Registration and fees: This event is free for all to attend. No registration required.
Venture Center is an incubator housed in NCL Pune, created with the purpose:
“To nucleate and nurture technology and knowledge-based enterprises for India by leveraging the scientific and engineering competencies of the institutions in the region”
Kaushik Gala, Business Development Manager at Venture Center is looking for all innovators in the areas of biology, chemical, and material sciences. The IIT-Bombay Alumni Association of Pune has organized a talk by Kaushik at Venter Center to speak about their activites
Venture Center is an incubator housed in NCL Pune, created with this purpose:
To nucleate and nurture technology and knowledge-based enterprises for India by leveraging the scientific and engineering competencies of the institutions in the region.
Envisioned Future: To be the organisation that will be credited with creating, shaping and sustaining a “Pune cluster” of innovative technology businesses with a significant economic impact regionally, nationally and globally within the next 20 years.
To find out more about Venture Center, we interviewed Kaushik Gala, the Business Development Manager of Venture Center. Here are excerpts from the interview:
1.What is Venture Center?
Entrepreneurship Development Center (‘Venture Center’) is a technology business incubator approved by the Department of Science & Technology, Government of India. Venture Center is incorporated as a Section 25 not-for-profit Company established under the Companies Act 1956.
·Advisory – Intellectual property, business planning, startup nuts-and-bolts issues, etc.
·Fund-raising – Seed stage fund raising from various sources including government agencies (eg. MoMSME), professional investors, etc.
·Technology commercialization program (‘Lab2Mkt’)
·Information and learning center – Library, databases, workshops, seminars, etc.
3. At what stage do you expect innovators and/or startup companies to approach you?
We offer resources and services at all stages of an early-stage technology startup – ranging from idea/conception, to prototype to Series A/B financing.
4. Obviously you are not interested in incubating any and all startups? Can you describe, with some examples, what sectors you are limiting yourself to?
Our focus is on the areas of material, chemical and biological sciences and related engineering / software ventures. However, some of our services are open to all individual entrepreneurs and startups.
Specific examples include startups that have commercialization technologies related to surgical implants, membranes for water purification, CFD and modeling solutions, etc.
5. Are the innovators expected to move to Pune, into your facility, to avail of any of your services?
For startups that need our infrastructure facilities, being located in Pune is obviously preferable. However, for services such as advisory and fund-raising, they can be located outside Pune as well.
6. How is Venture Center funded? What are your long-term funding plans?
Venture Center is funded via:
·A grant from DST-NSTEDB for start-up costs and operational expenses for the first 5-years
·In-kind support from NCL
·Donations from well wishers
After the fifth year of operation, Venture Center is expected to become self-sufficient. Besides generating revenue from a variety of services, our long-term funding plans include:
·Raising capital from governmental agencies and professional investors to set up an early-stage (‘seed’) fund for investment in technology ventures
·Raising grant funds from governmental and corporate agencies to expand our services portfolio
·Partnering with other R&D labs, domestic/foreign incubators, etc.