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Are you an innovator with a big idea that needs to be heard? Launched in New Deli, the India Innovation Growth Program 2.0 (IIGP) aims to help entrepreneurs working in social and industrial innovations bring their ideas to life and make them a reality. The IIGP 2.0 is a joint funded venture between the Government of India, Department of Science and Technology, Lockheed Martin Corporation; United States-India Science & Technology Endowment Fund, Federation of Indian Chambers of Commerce and Industry; Stanford Graduate School of Business and the IC² Institute at the University of Texas. Furthermore, according to India Innovates, they claim the IIGP 2.0 is the only public-private partnership in India.
Over the past 11 years, this program has helped assist over 400 innovators across India, generated 350 commercial agreements and put $900 million dollars back into India’s economy (Source: Second Impact Analysis Report by Ernst & Young in 2015). This year, the program brings over $2 million dollars in funding for new and upcoming innovators. Approved, successful applicants will receive seed funding and mentoring from the investors. Through the seed funding, investors will be able to help the innovators bring their ideas to life and make sure they are market-ready.
People applying will have the chance to become a successful applicant through two annual challenges called the University Challenge and Open Innovation Challenge, where the IIGP 2.0 will recognize and support both the social and industrial innovations through 3 phases. Sourced from the IIGP 2.0 official website, these phases are broken up into:
Ideate:
Phase A: Ideation
- ‘Ideas to Concepts’
- Feasibility Exploration
Innovate:
Phase B: Innovation
- ‘Concepts to Prototypes’
- Demo / Pilots
Accelerate:
Phase C: Acceleration
- ‘Prototype to Market’
- Transition / Scaling up
What challenge should I apply for?
So you’ve probably got a great innovative solution or idea that you want to put into fruition but you’re unsure of what challenge you should apply for. The difference between the two challenges is the background of the applicant. The University Challenge is open for applicants studying at any university across India. Each university can put forth as many representative teams as they want. This challenge caters to the ideation and incubation of concepts in regards to the specific grand challenges put forth.
The other challenge being the Open Innovation Challenge is open to anyone within the technology community and not specifically involved in the academic world. This challenge is open to everyone and anyone within India. Furthermore, this challenge caters to the innovation and acceleration of concepts. If you do have more than one solution or idea though, don’t fret, you can also submit more than one application per year.
What are the Programme Benefits and Rewards?
The University Challenge:
- Top 30 University teams will receive mentoring from IIT-Bombay
- Top 10 University teams will receive a research grant of INR 10 Lacs to create a prototype
- Top 4 teams will receive mentoring from IIGP 2.0 partners
- Top 4 teams will be invited to participate in an intense boot camp run by IIM Ahmedabad
- Top 4 teams will receive a research grant of INR 25 Lacs to advance their projects to Phase C: Acceleration where they will work collaboratively with the Open Innovation Challenge.
The Open Innovation Challenge:
- Top 50 innovators will be invited to participate in an intense boot camp run by IIM Ahmedabad
- Top 10 innovators will be offered seed funding worth INR 25 Lacs
- Top 10 innovators will receive mentoring to help get their solutions / ideas market-ready
- Top 10 innovators will receive access to network with multiple sponsors
- Top 10 innovators will be able to showcase their work to investors
- Top 4 innovators will receive additional funding to progress their solution/ idea
- Top 4 innovators will have access to a wide network IIGP 2.0 offers
If you have a great idea that needs to be heard, registrations are now open at: https://apply.indiainnovates.in/register;jsessionid=D8359ECC1805DE396A5F2BE9A94677B7?canregister=1
