15 startups selected for the NIRMAN Accelerator Program

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Overview:

Recently, the Ministry of Science and Technology has said that 15 Startups are selected for the NIRMAN accelerator program.

What is the NIRMAN Accelerator Program?

This is the first cohort of the NIRMAN Accelerator Program launched by Start-ups Incubation and Innovation Centre (SIIC) IIT Kanpur.

  • The accelerator program is supported by the Department of Science and Technology (DST) under the Ministry of Science & Technology through its NIDHI scheme.

What is National Initiative for Developing and Harnessing Innovations (NIDHI) scheme?

  • It is an umbrella programme conceived and developed by the Innovation & Entrepreneurship division, Department of Science & Technology.
  • Aim: To nurture start-ups through scouting, supporting and scaling innovations.
  • Key stakeholders: Various departments and ministries of the central government, state governments, academic and R & D institutions, mentors, financial institutions, angel investors, venture capitalists and private sectors.
  • Funding: By the National Science & Technology Entrepreneurship Development Board (NSTEDB).
  • NIDHI Accelerator: An accelerator is typically a 3-6 months fast track structured program helping ideas get accelerated to the next orbit.

Objectives of NIDHI-Accelerators

  • To fast-track the growth of potential start-ups through rigorous mentoring and networking support in a short span through existing TBIs.
  • To attract subject matter experts, mentors, and angel investors to get associated with technology Business Incubators through structured accelerator programs.
  • To build a vibrant start-up ecosystem, by establishing a network between academia, financial institutions, industries and other institutions.
  • To act as a hub for several incubators in the region, so that high-potential start-ups can be fast-tracked for increased exposure and validation.

Characteristics of NIDHI -Accelerator Programs

 It is envisaged that 2 broad types of Accelerator Programs will be supported by NSTEDB under this scheme

  • Sectoral Programs: These are accelerator programs focused specifically on start-ups focused on a certain sector or theme. For example Smart Cities or healthcare.
  • Non-Sectoral Programs:Non-sectoral accelerator programs are most relevant for locations where a critical mass of ventures within a specific sector may not exist.

 


Source: 15 Start-ups selected in first cohort of NIRMAN accelerator will work towards solutions in healthcare and agriculture