T-Hub on Friday announced its partnership with the Ministry of Electronics and Information Technology (MeitY) and Digital India. T-Hub would lead Digital India’s Scale Up program for the hardware and IoT startups across India as well. MeitY and also Digital India aim to provide scale-up the opportunities to the startups and also make them ready in terms of product, investment, and new market access as well.
As many as around10-15 startups with leading-edge solutions in the mobility, energy, agriculture, aerospace, manufacturing, consumer, health tech, MedTech, smart cities, and also logistics and supply chain sectors will be shortlisted. The call for application for the program will commence in July 2020. Startups will be shortlisted from hundreds of applications after an extensive screening process. Ravi Narayan, CEO of T-Hub and Chief Innovation Officer of the State of Telangana, said in a statement, “India has already developed a reputation for its expertise in the software technology space. We are beginning to see startups emerging in the hardware space that are solving important problems. Schemes such as FAME II and Manufacturing-Hub plans by the Indian government has already laid a strong foundation.”
The batch of startups will go through regular interventions through boot camps and mentoring organized by T-Hub. During the program, startups will get exposure to design/to enhance their hardware. In addition, they will receive mentorship in areas such as pricing, go-to-market strategies, fundraising, amongst others. As part of the program, the shortlisted startups will also receive equity-free grants. Additional benefits that the startups will receive are as follows:
Personalized 1:1 mentorship with business leaders.
Access to T-Hub’s network of mentors, industry experts, investors, premium service providers, and ecosystem enablers.
Opportunity to work with subject matter experts and mentors to refine business models and go-to-market strategy.
Selected startups stand a chance to avail of equity-free grants.
Opportunity to collaborate with MeitY Startup Hub.
Access to a series of boot camps and interventions. Ajai Garg, CEO of MeitY Startup Hub said in a statement, “The Union Government has been continuously working towards strengthening the startup and innovation ecosystem of the country. MeitY Startup Hub has been set up in order to facilitate MeitY’s vision of promoting technological innovation, startups, and the creation of intellectual properties.”
The selection criteria for the startups are as follows:
Each startup team must have at least one full-time employee.
The product or the technology the startup is offering a functionality or the capability that is currently not available in any off the shelf product, or functionality or capability that could be demonstrated to possess a significant advantage over the current offerings in some aspect as well.
The product or technology the startup is offering for the consideration represents original ideas that wholly-owned with the freedom to use or is licensed by the team also.
Seed/pre-seed startups with a fully working prototype, with established technical capability
The product or service represents original ideas wholly-owned with the freedom to use or is licensed by the team.