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IDEAS: New Program for Encouraging Innovation and Entrepreneurship on the Campus

IDEAS Program designed to encourage and support Innovation and Entrepreneurship activities on the IIT Bombay Campus. This is an initiative under Mentoring by Alumni Program (MAP) and is launched by the Desai-Sethi Centre of Entrepreneurship. We now invite applications from students of the Institute to guide them in shaping and implementing their start-up ideas.

MAP is a three-month program, strongly driven by mentor support to help each start up/idea team develop their idea with the following objectives

  1. Get an evidence-based validation of the idea
  2. Develop the Proof of Concept (POC) and test the fit with the market
  3. Understand the opportunity and formulate a relevant business model

Throughout the duration of the program, teams would be required to talk to a number of customers. Week by week, these customer interactions will shape up the path forward and help the teams to identify the correct market need, product fit and business model. One mentor will be assignedto each team and further support will be available through IDEAS/DSCE team. Mentoring will be provided on a pro-bono basis for the full durationof the MAP. The cohort would consist of 10-15 teams. Each team would be expected to create a POC and perform market validation. Financial support would be provided for such activities with a reimbursement of up to Rs.50,000 per team, with prior approval under the IDEAS program.

Eligibility of the Teams: Teams should have at least 2 students or research scholars from IITB, who can attend the program

Expected Commitment from the Team:

  • Attending kickoff in mid-Oct, 2-day booster camp likely in November end, and a couple of events in  the month of January
  • Watching online videos, reading the required material, attending a weekly online class of about 11.5 hours
  • Going out and interacting with customers and users to discover the right business model, and working on the POC
  • Weekly discussion with mentor and IDEAS/DSCE team