India Innovation Growth Programme 2.0 helps entrepreneurs working in social and industrial innovations to bring breakthrough ideas to the market.
India Innovation Growth Programme 2018 was launched in New Delhi on Wednesday, and this year, the programme brings in a funding of $2 million, looking to be invested as seed funding, helping entrepreneurs in developing innovative solutions and make their ideas market-ready.
Established by the Department of Science and Technology, Government of India, Lockheed Martin Corporation & Tata Trusts, the India Innovation Growth Programme 2.0 was launched in 2017. The IIGP claims to be the only public-private partnership in India, aimed at nurturing disruptive innovations by training entrepreneurs and change-makers in world-class strategies, promoting incubation and acceleration support, and assisting in business development.
Aimed at accelerating indigenous innovations through incubation of affordable, accessible and acceptable solutions, this unique programme offers an opportunity for innovators across India to bring breakthrough ideas to market in areas such as agriculture, healthcare, water, energy, life sciences, aeronautics, biotechnology, chemistry, communications, computing, defense, electronics, information technology, manufacturing, materials, nanotechnology, petrochemicals, semiconductors and transportation.
"To build a partnership is to sustain. However, to sustain it for 11 years is tougher. IIGP is a unique partnership between academia (IIM, MIT, and IIT-B), industry (Lockheed, Tata, Tata Trust, and FICCI) and the government (Dept of Science and Technology). More than 400 innovators have benefitted from this programme so far," added Harkesh Mittal, Programme Head of Innovation, Entrepreneurship and Tech Commercialisation, Department Science & Technology, Government of India.
The first edition of IIGP 2.0 (launched last year) claims to have already met with early success. Five of the 2017 winners have begun to market their products in India and overseas. Two others have conducted field trials, while three have successfully created a proof of concept and product validation.
“We have been around for 11 years (since 2007) and we are collaborating for the 12th year now. The platform has grown to a respectable size and last year, we received 1,500 applications. The IIGP continues to prove itself as a hallmark model of government and industry working hand-in-hand to unleash the power and potential of Indian innovators,” added Phil Shaw, Chief Executive, Lockheed Martin India.
What does the platform have in store for entrepreneurs?
The IIGP has two separate tracks: a University Challenge, aimed at students, is complemented by an Open Innovation Challenge, aimed at innovators and entrepreneurs across the country. Each track focuses on identifying and supporting both industrial and social innovations. IIGP holds parallel challenges each year, supporting innovations through three phases of Ideation, Innovation and Acceleration.
Shortlisted winners will be sent for an international exposure visit to the Massachusetts Institute of Technology, Boston, USA.
IIGP 2.0 is implemented by several supporting partners: Federation of Indian Chambers of Commerce and Industry, Indo-US Science and Technology Forum, Center for Innovation Incubation and Entrepreneurship at IIM Ahmedabad, Indian Institute of Technology Bombay, and Tata Center for Technology and Design at Massachusetts Institute of Technology.
“At Tata Trusts, we are always looking for innovators and entrepreneurs who are on a mission to improve quality of life, especially for the underprivileged and deprived. The India Innovation Growth Programme 2.0 has been revolutionary in its discovery of young and highly motivated innovators who want to create large-scale social impact with their high-quality solutions that are also affordable and accessible,” added Manoj Kumar, Head, Entrepreneurship and Innovations, Tata Trusts.
A sneak-peek into last year's edition
Last year, IIGP 2.0 witnessed nine University Challenge teams and 10 individuals under Open Innovation Challenge receive a total support of $500,000 for innovations in the areas of medicine, healthcare, water, agriculture and aeronautics, among others.
After being shortlisted, winners received mentorship during a boot camp held at the Centre for Innovation Incubation and Entrepreneurship at the Indian Institute of Management in Ahmedabad. They also received exposure to advanced training ecosystems in Boston, US as well as a visit to the Massachusetts Institute of Technology, US. Since then, the five winners from the Open Innovation Challenge--Innovision, Taraltec, NoPo Technologies, Airpix, Vacus Technologies--have secured one or more customers in India and abroad. These innovative solutions span across multiple areas such as health, water, aerospace, nanotechnology etc.
Two winners, Azooka Life Sciences and NoPo Nano Technologies, have filed for patents in India, Japan, Korea and Europe, while another two, Innovision and Module Innovations, have been invited to showcase their products at international forums in New York and London. Also, the product of one University Challenge winner from the University of Petroleum & Energy Studies has reached the manufacturing stage; two winners from the Institute of Chemical Technology have conducted field trials, while three winners from IIT Kanpur, IIT Bombay and MH Saboo Siddik College of Engineering have successfully created proofs of concept. The UC winners were assisted with mentorship for product development and a design thinking workshop at IIT, Bombay.
Click here to apply for the Open Innovation Challenge and the University Challenge. The last date for application is May 18, 2018.