Entrepreneur-in-Residence (EIR) Program-2024
1. Objective:
IPTIF-Entrepreneur in Residence (EIR) Program aims to support budding entrepreneurs for developing, prototyping, validating and testing their deep-tech technology/product ideas to convert them into successful ventures. The program offers a package for an entrepreneur including monthly fellowship, mentoring, access to prototyping facilities and opportunities for future investments and network Under the National Mission on Interdisciplinary Cyber Physical Systems (NM-ICPS) scheme, IPTIF has special thematic focus on Intelligent Collaborative Systems (ICS) for addressing challenges in Energy and Safety sectors majorly, among others like Automotives, Defense, Healthcare, and Agriculture.
2. Duration & Mode:
The maximum support duration for EIRs is up to 12 months. A selected EIR can be remotely incubated/associated with IPTIF or be a resident entrepreneur at IPTIF on a case-to-case basis.
3. Monthly Fellowships:
EIR shall receive fellowship upto INR 30,000/month for a maximum duration of 12 months
4. Eligibility Criteria:
- Any Indian Citizen above 18 years of age is eligible
- Young Innovators, Founders of Startups incorporated less than 3 years ago, Individuals with Industry experience moving to Entrepreneurship etc., are all eligible
- Should not be recipient of any EIR fellowship earlier
- Should not be a recipient of any other IPTIF Startup funding support
- Should not be receiving any other fellowships or Full time salary at the time of EIR
- EIR fellowship is a full-time program and an EIR should be ready to incorporate a Startup by the end of 12 months, if not a Startup founder already.
5. Focus Area:
Modeling, analysis, control, devices, networks, robotics, data and simulations are all building blocks of CPS technologies. Intelligent collaboration of these building blocks (Intelligent Collaborative Systems (ICS) for developing technologies & products having
applications in the fields of energy, safety and other sectors Energy, Safety, Automotives, Defense, Healthcare, Agriculture etc. is the major focus area of IPTIF.
6. Techno-Business Project Proposal:
EIR applicants must submit a scalable, innovative, original techno-business Proposal in the above Deep-tech domain in the format given in the Application Process
7. Application Process:
Fill the application IPTIF EIR Application Form 2024 – Google Forms from the IPTIF Fellowship website.
Submit the completed application form with a detailed Techno-Business proposal aligned with specific focus areas in the prescribed Proforma EIR program Techno-Business Proposal – Google Docs
8. Selection Criteria:
Applicants must present scalable Deep-tech based business ideas in the focused areas of IPTIF
Evaluation Criteria of EIR Applications:
Applicant Credentials:
- Academic & Industry background of the Applicant
- Entrepreneurial Mindset
- Skill Sets
- Proposal Quality and Relevance:
- Content Analysis: Examining depth and quality of the techno-business proposal.
- Innovation: Assessing level of innovation and potential for transaltion
- Alignment with Focus Areas: Ensuring alignment with specific focus areas.
- Potential for Real-World Impact:
- Feasibility Assessment: Reviewing feasibility and potential for successful implementation.
- Scalability: Evaluating potential for scalability and broader impact.
- Practicality: Assessing practicality and applicability in real-world scenarios.
9. Application Process:
- Application Deadline: 13th April 2024
- Screening of Proposal by Internal Committee
- Presentation of shortlisted Applications to Techno Business Committee
- Results Announcement: Deliberation, final selection, and communication of details to successful applicants.