Inspire Incubation Centre powered by 1Crowd
CHRIST (Deemed to be University) Incubation Centre
Hosted by Faculty of Engineering, CHRIST (Deemed to be University) Kengeri Campus, Bangalore
About the Incubation Centre
Inspire! is an incubation centre established by CHRIST (Deemed to be University) and 1Crowd for early stage startups housed at the Kengeri campus of CHRIST (Deemed to be University) in Bangalore.
The primary purpose of the incubation centre is to facilitate the creation of ideas and inventions that benefit society and importantly, are commercially ready by the end of incubation program.
Combining 1Crowd’s strength in startup investing with CU’s cutting edge academic facilities and depth of technological and engineering expertise, Inspire! presents a unique opportunity for startups to take their business to the next level.
Vision: Social transformation through technological innovation
Mission: Nurture and mentor aspiring entrepreneurs transform their innovative ideas into viable entrepreneurial initiatives through excellence and service.
Startups accepted into our incubation centre will participate in a rigorous 12-month incubation program during which they will collaborate with mentors, partners, industry leaders and 1Crowd investment professionals.
At the end of the program, startups which have shown significant traction may be considered for funding via 1Crowd’s equity funding platform.
What we look for?
We look for great teams with innovative products/ideas which can solve real problem areas and can scale up to become profitable ventures.
We invite startups across sectors to apply, as long as they are linked in some way to the fields of engineering or technology.
How to Apply?
Applications can be made through an online form available here.
If you have any questions about the application form or process, please contact us at email@example.com.
? What is a startup incubation centre?
A startup incubation centre is an entity which assists startups with converting their early-stage companies into highly scalable, commercially viable businesses. In addition to providing office space and facilities, incubation centres support startups by providing industry tie-ups, mentorship, connection to funders and management training.
? Why join Inspire!?
Inspire! seeks to provide entrepreneurs a best in class support system to convert their innovative ideas into thriving businesses. Core elements of our model include:
• Corporate Engagement: Connection with our Centre of Excellence which comprises tie-ups with large established companies across sectors providing access to markets and networks, technology, data platforms and support with product validation and pilot phase
• Structured Mentoring: Feedback and guidance from our network of 40+ seasoned mentors including industry professionals, academic leaders and other experts. Mentorship may also be facilitated through the many collaborations CHRIST (Deemed to be University) has established with Industry Leaders, especially in cutting edge technology areas
• Capital: Possibility of funding through 1Crowd both as seed capital, and as growth capital at the end of the incubation program
• State-of-the-Art Facilities: Access to high quality laboratories, equipment and working space
• Service Partner tie-ups: Connection to our partners offering Legal, HR, Finance, Marketing and Tax services, as well as cloud credits to support startups in these areas
? Who can apply for admission into Inspire!
To be eligible to apply for admission into Inspire!, the following criteria must be met:
1. The startup should be a registered private limited company under the Companies Act, 2013 - we understand that early stage startups are often not registered. In such cases, an application may be made in the names of all promoters/ founders. However, the promoters/ founders must register the company within three months from the date of admission into the incubation centre. 1Crowd will facilitate the registration of the startups by connecting them to appropriate legal and accounting service providers.
2. The promoter/founders should be working full time with the company and should not be employees of other organizations within 3 months of admission into the incubation programformation of the company - we believe dedicated focus is key to building successful enterprises.
3. The startup should be working on a product/idea related to one or more fields of engineering or technology – we prefer startups with an element of innovation.
? Do we need to relocate for the incubation program?
The incubation program has been designed to thrive on the community, networking and hands-on support offered. We thus expect the team to primarily operate out of the Incubation Centre for the duration of the program.
? What is the structure of the incubation program?
The incubation program at Inspire! has been designed for 12 months, with opportunities for extension. It is interspersed with workshops, speaker series and networking events right from concept validation to fundraising stage.
? What type of startups are you interested in?
Inspire! is focused on startups related to the fields of engineering or technology. We prefer startups with an experienced team who are in the pre-seed or seed stage of development. The incubation program has been designed to support startups with taking their idea from the concept stage to a full-blown product/service launch. Our goal is to help startups build sustainable businesses that are ready to raise external funding by the end of the incubation program to scale up their businesses.
? What is the application process and how should we apply?
Inspire! calls for applications from time to time. You are required to fill in the application form which is available on the Inspire! webpage. If we find your application in line with our requirements, we will contact you for further application rounds which will include presentations and face to face interactions.
? Do you take equity as part of this program?
We take a small equity position in your startup in exchange for the incubation services offered. The exact equity amount varies based on the stage of the venture. Our stake in your business makes sure that we are motivated and our interests are aligned so that we win when you win.
We do not take any special or controlling interests in your company as part of the incubation program. We will not seek a board seat or any exceptional shareholder rights for the incubation services.
? Are there any other costs associated with this program?
Startups would be required to pay nominal subsidized fees of INR 1000/month per seat (inclusive of all taxes) for the physical infrastructure and facilities provided to them.
? Do we get seed funding if accepted in the program?
Accepted startups will be considered for seed funding from 1Crowd on a case-by-case basis. Seed funding will range between INR 10 lacs – INR 25 lacs and will be offered anytime between 3-9 months into the program. Request for seed funding will be evaluated as a separate arrangement between 1Crowd and the startup. Equity stake taken by 1Crowd as consideration for seed funding will be arrived at in consultation with the incubatee company.
? What are the working hours of the incubation centre?
The working hours for the Incubation Centre will be from 7am to 8pm seven days a week. Any request to work at the incubation centre outside of working hours will be considered on a case-by-case basis.
? Will I be able to access the equipment and facilities at CHRIST (Deemed to be University)?
Incubatee companies will have access to departmental laboratories and other resources and equipment of CHRIST (Deemed to be University) for their product development purposes. Permission to access such resources will be accessible through a pre-defined process.
? What facilities and equipment does Inspire! have available for startups?
CHRIST (Deemed to be University) has 37 well-equipped engineering labs with state-of-the-art hardware equipment and software including but not limited to 3D printers, CNC machines, a robotic arm, embedded system and VLSI kits (eg. arm9 boards, spartan-6 boards) with associated peripheral devices, FESTO pneumatic and hydraulic equipment for PLC systems and solar and wind energy simulators. If you are interested in any specific type of equipment or software, please feel free to contact us at firstname.lastname@example.org . We would be happy to confirm availability and provide further information. Provide a link here for FE, CU visuals of Labs.
About CHRIST (Deemed to be University)
Established in July 1969 as Christ College and deemed to be a university in 2008, CHRIST (Deemed to be University) (CU) is rated among the top ten educational institutions in India. The University has campuses in Bangalore (Hosur Road, Bannerghatta Road and Kengeri). The Faculty of Engineering (FE), Kengeri, Bengaluru, is a premier educational institution under the aegis of CHRIST (Deemed to be University). Situated on Mysore Road, FE provides the experience of a world class campus with state-of-the-art academic buildings, libraries, research facilities & residences spread over 75 acres of lush green land.
FE brings the academic and technology community together to develop transformative ideas and develop pioneering leaders and technologies for the digital age. Presence of Industry leaders such as Tata, Renault-Nissan, FESTO, Tech Mahindra, Mercedes Benz, Robert Bosch amongst many more, ensures strong Academia-Industry collaboration benefiting the students and enabling Faculty to connect with Industry on a continuous basis.
Further information about the University can be found at www.christuniversity.in/
1Crowd is a platform for nurturing early stage startups in India. The company was founded in 2015 and is run by a team of senior bankers and private equity professionals. 1Crowd seeks to support the startup ecosystem in India through three pillars of engagement:
• A chain of startup incubation centres
• An equity crowd funding platform
• A suite of early stage and seed capital funds
For more information, please visit our www.1crowd.co , or contact us at email@example.com.
Please feel free to contact us with any questions at firstname.lastname@example.org