This article is part of the series called Startup Hatch, about incubators and accelerators in the startup ecosystem.
IPS Academy, Indore has founded Tekincube in June 2011 to support early stage business ideas & inventions. Tekincube is an Incubation & seed fund firm that supports early stage ideas to develop prototypes and early stage startups to expand. Tekincube is operated under Center for Entrepreneurial Innovation & Leadership(CEIL) at IPS Academy, Indore. This centre aims to produce a number of jobs for the young generation by incubating ideas in its own Incubation Centre – Tekincube. It incubates ideas/startups through its 30 days accelerated residential program. The center is going to invite applications for this incubation & seed funding program by the end of this August 2011. Any Idea which is innovative, feasible, and scalable and has the potential to create good impact can apply for this Incubation & funding program. Other than the incubation & funding, the center provides mentorship to the startups as well. “The valuable thing that we do is work with early stage business ideas along with founders to shape it into best possible startup company. We invest up to INR 25 lack in the first round and then we invest more amounts in second stage & in returns we take stake in the Startup” says Subrat Kar, Head & founder of CEIL – Tekincube.
The Centre has a team of successful entrepreneurs who will work with founders as mentors, advisors or co-founders. Also, National Entrepreneurship Network has associated with the center to promote entrepreneurship among young minds.
Recently the center funded an Indian Innovator(Susant Pattnaik) to go to NASA for his breathing sensor device for P.D people. Tekincube invites students from across India to participate in its incubation and funding program!