Internet and Mobile Association India ( IAMAI) launched India’s first virtual incubator programme aimed at helping Tech startups with their short and mid-term needs.
Commenting on the launch president of IAMAI, Subho Ray said, “The global pandemic has negatively impacted more than 80% of the startups in the digital tech space, and we appeal to all large companies to extend their support to these startups through the virtual incubator.”
The global pandemic has caused a myriad of problems for startups. A blue-eyed sector for India was expected to build jobs, usher innovation, but in the post COVID19 era, everything has come to a standstill. Experts believe that many startups are at the brink of shut down if not already. It is also believed that the layoff numbers have been grave and more than 50% workforce is feared to have been already laid off.
The primary function of the virtual incubator is to address the needs of the start-ups located outside the major cities of Bengaluru, Mumbai, Chennai, Delhi, and Kolkata. Many of the Made for India products and service ideas have their genesis in smaller towns and cities. But these start-ups and their founders being outside the so-called startup network find it difficult to validate their ideas, garner sufficient funds for proof of concept and are not able to find suitable guides and mentors. It this category of startups that can have and nation-wide access and possibly global access in the future by connecting with IAMAI’s virtual incubator.
Through this virtually accessible programme, IAMAI will provide state-of-the-art incubation services to every Indian startup with the help of dedicated mentors from the relevant industry. It will enable startups to charter their success stories for catering to the varying needs of virtually incubated startups. As a part of this programme, IAMAI will provide an initial Startup kit worth 70lakh to all the registered participants.
As a part of its Mobile 10X initiative launched in 2015, IAMAI currently runs three not for profit incubators in Bengaluru, Kozhikode, Gurugram supported by the respective state governments and has curated through a structured programme about 300 start-ups in the tech space. All the facilities provided in these incubators will be extended to those incubated in the new virtual incubator.
For more details on the incubator, visit – IAMAI Virtual Incubator Programme