India’s startup ecosystem has been changed a lot and dominated by news headlines of various accelerators’ programs launches. A new incubator called Plugin is launched by Intel in the collaboration of the Society for Innovation and Entrepreneurship (SINE), which is IIT Mumbai’s part and the government's Department of Science and Technology (DST), a leading funding agency. Through this program, Intel wants to offer support to the startups that are focused in hardware segment. The program aims to fill the gap in the hardware start-up ecosystem and troubleshoot difficulties that hardware startups face during product development and its commercialization.
On the other hand, SINE has helped more than 80 startups until now, and planning to reach startups from hardware segment to provide a full package of services including mentoring and funding etc. "Traditionally, SINCE has incubated companies based on IP, and software startups. Plugin is a first because we haven't backed hardware startups like this before."," explains Poyni Bhatt, COO, SINE, IIT Bombay. The program will also help startups to refine and amend their go-to market strategies with the help of world famous experts who are part of its network. He adds,"We will be offering Rs. 30 lakhs, each to 20 startups and that includes hardware toolkits, product development kits which are also quite expensive. Additionally, we have our own prototyping space which these startups can use, so there is a lot of value we're bringing in for the startups. The only requirement is that they should be hardware startups, and we're hoping to see projects in healthcare, to transport, IoT, and consumer products."
Key Highlights of Plugin Accelerator Program:
Nivruti Rai, Vice President, Platform Engineering Group and General Manager, Intel India shares, "Other than the money, we have our maker lab in Bangalore where we have already incubated 17 startups. Now, with SINE and DST, we will be able to increase the scope of what we are doing. Our mentors will be available and will be able to add a lot of value to the startups."
Applications are invited from across the world. The program will start in October, 2016 and selected 20 startups will be incubated through mentoring, intensive training periods, technology related support from Intel experts, business service support from SINE, all along prototyping and manufacturing support.
On the other hand, SINE has helped more than 80 startups until now, and planning to reach startups from hardware segment to provide a full package of services including mentoring and funding etc. "Traditionally, SINCE has incubated companies based on IP, and software startups. Plugin is a first because we haven't backed hardware startups like this before."," explains Poyni Bhatt, COO, SINE, IIT Bombay. The program will also help startups to refine and amend their go-to market strategies with the help of world famous experts who are part of its network. He adds,"We will be offering Rs. 30 lakhs, each to 20 startups and that includes hardware toolkits, product development kits which are also quite expensive. Additionally, we have our own prototyping space which these startups can use, so there is a lot of value we're bringing in for the startups. The only requirement is that they should be hardware startups, and we're hoping to see projects in healthcare, to transport, IoT, and consumer products."
Key Highlights of Plugin Accelerator Program:
- Plugin will support “Make in India” campaign by facilitating hardware startups in India
- It will take in 20 startups in its first lot
- It will be a yearly program
- Offered benefits will include support of worth Rs. 30 lakhs plus additional benefits
Nivruti Rai, Vice President, Platform Engineering Group and General Manager, Intel India shares, "Other than the money, we have our maker lab in Bangalore where we have already incubated 17 startups. Now, with SINE and DST, we will be able to increase the scope of what we are doing. Our mentors will be available and will be able to add a lot of value to the startups."
Applications are invited from across the world. The program will start in October, 2016 and selected 20 startups will be incubated through mentoring, intensive training periods, technology related support from Intel experts, business service support from SINE, all along prototyping and manufacturing support.
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