WE ARE SEEKING IDEAS. AND YOU.


The modus operandi at Startup Foundry is to experiment rapidly, fail fast, learn fast and succeed spectacularly, by minimizing risk of failure and optimizing learning opportunity.

About Us

Startup Foundry is the Incubation center of the IFIM Center of Excellence (Entrepreneurship) being developed for enhancement and nurturance of entrepreneurial spirit at the institute. The Startup foundry aims to nurture incubatees through a combination of business support, mentoring and developmental assistance aimed at improving valuation through business growth.

The Startup Foundry is uniquely positioned in its capability to assess, encourage and nurture startups by providing a platform that aims to minimize risk in their experimentations and learning process.


Team

Dr. Srividya Raghavan

Chairperson, Centre for Entrepreneurship
Connect

Varun Akhnoor

Chief Incubation Officer
Connect

Incubation Programme

The institute extends all of its resources to support the incubatees. The Incubator is supported by a constellation of clinics and support services.


Consulting Clinic

Business consulting including advise on strategic direction and market research for start-ups.

Anchored by faculty and supported by external affiliations as well as student members, the start-ups will receive the necessary opportunity to work with faculty who can provide specific consulting advice services.

Law Clinic

International Law Clinic set up in collaboration with Brooklyn law Incubator and Policy and National Law School (Bangalore).

Anchored by faculty of both schools with support from IFIM Law College and NLS Student fraternity as staff members.

Branding and PR Clinic

Anchored by a faculty and student team and supported by our third party agents.

Finance Clinic

Anchored by faculty affiliated with an external audit firm. The faculty will pick a set of students and place them as bookkeepers for one or more start-ups.

Students will get to practice bookkeeping and accounting in practice and will take the support of the faculty and external audit fund in solving issues as they arise.

Infrastructure

The startup Foundry boasts of a comfortable 2000 sqft open space for incubation. Internet, electricity, Analytics Lab, Finance Lab, Computer Lab and canteen facilities.

Support

Databases and library facilities. Accounting and booking keeping support. Technical and hosting support.

Founders' Eligibility

    Founders who are 20 years or older
    The application is authentic and original
    The founders must dedicate a good amount of time to the venture during pre-incubation and incubation stages

Startup Eligibility

    The business must be in Validation/ MVP/Proof of Concept/Pilot stage which is fundable/self sustainable in 12 months
    Can show demonstrable progress over next 12 months
    Preferably in the areas of - Market place/platforms; Education technology; Business analytics, machine learning etc; Finance technology

Apply

Selection and process

This is a 4 step process
Process
1. Initial application: Apply through our website to send mail to our email id.
2. Detailed application: Complete business plan with supporting documents
3. Personal interview: personal interviews with the team
4. Pitch day: A final pitch

Application

Rolling
Details
Incubation Phase – based on Term Sheet agreement (4 month appraisal for continuance and disbursement of funding)
Disbursement of upto Rs 25 Lakhs*
*On need basis and discretion of investor based on outcomes, progress & potential. Incubation does not include salaries for founders


  

Selection criteria

Details
Problem/Solution: Does the venture identify a real and pressing problem? Does it propose a viable solution? (Strong applications sharply define a pain point/gain point and present a solution to address the same).

Uniqueness: Ideas that stand apart in their ability to solve a problem like nobody else can are valued. Thinking different is a useful talent. Highlighting special and unique features will help.

Sustainability & Impact: Ventures that indicate that indicate signs of resilience and ability to think long terms are preferred over those riding an opportunistic wave. Sustainable ventures that have innovation at their core would be winning applications. Impact in terms of disruption, scalability and real difference to the pain point are important consideration.

Talent & Team:  Do you have what it takes to lead your venture to success? Strong applicants exhibit characteristics of extraordinary leadership: vision, intelligence, resilience, and follow-through. The team matters. Execution: The attention to detail is important and execution shoddiness is reflective of the team’s talent. Ensure that this is reflected in the application.


    

FAQs

Everything to Know
  • Is the incubation facility restricted only to IFIM Students and Alumni?
    No. The incubation facility is open to any Startup that has an innovative, value-added product/service and feels that Startup Foundry will help them take their business to the next level.

  • What is the process to apply for incubation?
    The applicants must apply online or in person at the campus and go through the screening process before they are accepted into the incubation.
    Those interested may apply through the application form available at the website or write to the contact email provided. We will revert to the applicants through email or phone call if the screening committee evinces interest.

  • Should I have a complete team with me when I come down for incubation?
    While the incubation management would like to know and be familiar with the whole team, even one member of the team may be the main contact person in the initial period. The assessment of the team will require in person meeting with the whole team.

  • What is Mentoring?
    When an incubatee needs assistance in working out the business plan, or has difficulty in finding the right kind of resources such as identifying markets or validating their idea, our mentors come on board to help them solve their problems through advice or contacts. The role of the mentor is to guide the startups when they come up against a problem and help them find resources when they need it.

  • Who are these mentors?
    We have two types of mentors.

    1. Our faculty members and administrators who are part of the screening committee and anchor one or more startups that they have confidence in and are willing to help and guide them. These anchor faculty have a vested interest in ensuring the success of the startup and will try and support them in any form possible,
    2. Industry/Sector experts or those from the entrepreneurship ecosystem who can help startups by bringing them the right kind of resources.
      As a business school we have access to both domain expert faculty as well as industry experts through our tie-up and mentorship empanelment.
  • How confidential would the idea be if we come to mentoring?
    For a startup to succeed, we must be able to propagate the idea into the market with no fear of it being easily copied easily and hence, confidentiality is not an important aspect to be considered. At Startup Foundry, we believe in a good idea, but we believe in the entrepreneur even more. We believe that if the entrepreneur is able, he/she will be able to bring an idea into fruition and success.

  • How long does it take to present before the Screening Committee?
    2 months

  • What is the typical duration of Incubation?
    We offer an initial 12 months incubation. Depending on progress on achievement of milestones, further incubation period is determined.

  • Does an entrepreneur get funding?
    While Startup Foundry offers seed funding, it is not guaranteed. Depending on the level of the startup and its requirements, offers maybe made for incubation with seed or without seed.

  • Does The Startup Foundry take equity?
    Where seed capital is given Startup Foundry would take 5% minimum equity plus 1% for the anchor faculty mentor

  • What facilities do we get if we get incubated?

    1. The startup Foundry boasts of a comfortable 2000 sqft open space for incubation
    2. Internet, electricity, Analytics Lab, Finance Lab, Computer Lab and canteen facilities,
    3. Databases and library facilities
    4. Accounting and booking keeping support
    5. Technical and hosting support
  • Can I rent the space at IFIM instead of being an incubatee?
    Yes. But this is limited to available space.
  • Application Form

    Facilities required

    Please fill out the following as contact information

    Events

    October 13, 2017 | Friday (Every second Friday of the month)

    Friday's @ Startup Foundry


    Friday_1

    In line with the vision of making Startup Foundry a hotbed for entrepreneurship activities at Electronic City, we will be launching our flagship event 'Friday'[email protected] Foundry'. This will be on 2nd Friday of every month.

    Our first Inaugural session is on October 13th Friday from 4 pm - 5 pm.

    Chief guest for the event : Mr Nao Murakami, General Partner Incubate Fund. With an investment of over $170 Million Incubate fund is the biggest investors of Seed / Early stage businesses in Japan.

    Mr Sanjay Padode, Secretary Center for Developmental Education


    Schedule
    4:00 - 4:05 : Welcome address by Secretary CDE
    4:05 - 4:10 : Lighting the lamp by Secretary and Chief Guest
    4:10 - 4:45 : Topic discussion "What do Investors look at while funding a startup" and Q&A by Chief Guest
    4:45 - 5:00 : Networking High Tea

    Venue: Startup Foundry
    Entry: Free

    Register Now

    August 19th, 2017

    Pitch-in Cube


    ‘Pitch’in-Cube’ (Vol.1,i), is the first of the startup pitching series to hosted by the Center of Excellence – Entrepreneurship Development (CoE - ED) at IFIM Institutions. The objective of the event is to identify and screen the best of startups who will be provided a platform to pitch in front of imminent investors and seasoned entrepreneurs. Support will be extended from the incubation center of IFIM – the Startup Foundry, in terms of incubation facilities as well as a support services.

    Sponsorship Brochure

    February 24th – 25th, 2017

    Startup Convergence


    ‘The Startup Convergence’ is a two day catalytic event aimed at bringing together people from various verticals of the startup ecosystem to deliberate on issues related to entrepreneurship.

    This flagship event of the Center of Excellence – Entrepreneurship Development (CoE-ED), is the first of its kind that aims to enable osmosis of ideas across the widening chasm between academics and practitioners.

    The event revolves around three activities –

    1. The Startup Showcase
    2. The Case Contest & Research Paper Awards
    3. Panel discussion with experts on topics related to entrepreneurship

    This year ‘The Startup Convergence’ focussed on the theme – “From Innovation to Enterprise: Forging the Road Ahead” (February 24th – 25th, 2017).

    Pitch Day

    An one day networking cum picthing event where selected startups go through two rounds of screening and pitching to selected panel of judges comprising investors, academics and experts to win a final prize. [Slated for Aug 2017]

    Contact Us

    Bengaluru

    #8P & 9P, KIADB Industrial Area, Electronics City, Phase 1
    Bangalore- 560100
    [email protected]
    (+91) 91000 70111 | 97394 26789