KLE – CTIE is a one stop destination for entrepreneurs seeking to develop products in active
collaboration with University ecosystem. Being in a Tier – 2 city, is an added advantage too,
as the burn rate is low and startups typically would risk lower capital for achieving the
Review of Application
A startup seeking for incubation, applies by filling the application form and sharing the Business Plan.
The Review Committee - Experts in the domain of startup business and other Business Mentors, along with internal team, scrutinize the application and invite the startup for a pitch. Post discussion on area of business operation, the USP, market sizing and plans to build startup, decision is made whether to incubate startup or not.
The startup then officially sign an MOU with CTIE and get incubated.
Typically, startups joining at pre – incubation phase is still not sure on the idea they are working on. Hence there is a one on one discussion of the startup promotor with the internal team to know, their journey so far, and what support they need in the time to come. These objectives are precisely listed out for the startup promotor as well as the incubator – to support the growth of startup.
Who can Apply:
Entrepreneurs who apply for Pre – incubation are from various backgrounds –
- Entrepreneurs External to the Institute
- TIDE 2.0 – Entrepreneurship in Residence grant
- CIPD – MSME Business Incubation Centre prospects
There are training program/workshop held by industry practitioners time to time to further concise the thought process on building the desired product/solution. These include sessions on
- Design Thinking – focus on Empathy Mapping
- Business Model Canvas
- Jobs to be Done
- Innovation Tools and Methods
- Fundamentals of Business
- Intellectual Property Rights (IPR)
- Sales & Marketing.
Review of Startup:
Once a month, the startups are reviewed by committee comprising of internal plus external experts, to track startup growth and support them wherever required.
Cost & Timeline:
Pre – Incubation is generally between three to six months depending on the domain of operation, entrepreneur’s attitude to adapt to change, progress on work carried out in materialising the idea leading to possible solution. If the entrepreneur/team fails to get by pre – incubation phase, further extension is provided, on a case by case basis. There is minimal overhead cost like rentals offloaded to startup during pre – incubation phase. Post pre – incubation phase, the startup is promoted to incubation phase where they further build their startup and create a successful venture.
Funding support is provided to startups under TIDE 2.0 and HEX (Hubli ESDM eXchange) initiatives.