The main objective of the scheme is to encourage students, research scholars and alumni to share their ideas to solve chosen problems which are local centric and to validate, refine and nurture the ideas
incubation centre shall provide an ecosystem to convert the ideas into proof of concept and upgrade them to a level of commercial values
After successful incubation, encourage and lead the teams towards setting up a business enterprise
The students, Research Scholars and Alumni's have to come up with the ideas which will solve the local problems and also which might lead to the startup.
Identified problems are solved by the project team with the encouragement of mentoring committee and the solutions are submitted
Idea Generation : Pre-hackathons/Hackathons/Start-up Pitch/Idea Generation events would be conducted to train students on idea generation and pitch their ideas.
Refinement : College Level Review Meetings would be conducted to refine the shortlisted ideas and a formal proposal is made
Evaluation : The refined ideas would be forwarded to the steering committee of KITS for further evaluation of Ideas and approved business proposals are funded
- Mentors are assigned
- Product Development/Validation
Monitoring Committee and Incubation Center Manager to review the project on weekly monthly basis
Steering committee will review projects on quarterly basis.
The shortlisted business proposals will be seed funded upto maximum of Rs. 3.00 Lakhs for the development of minimum viable product.
The fund released shall be used for project related expenses on a pre-approved basis for project specific costs as outlined in the project plan document
Purchase guidelines given by the KITS would be followed during the procurement of the components