IIM Vizag to handhold 15 startups under newly launched Nidhi programme

Visakhapatnam, Dec 29 (KNN) Launching the Nidhi accelerator programme on Wednesday, IIM-Visakhapatnam Foundation for Incubation Entrepreneurial Learning and Development (IIMV FIELD) has selected 15 startups for this 18-month long programme, reported TOI.

The programme is funded by the Department of Science and Technology, and it will support  those ventures, who already have their minimal viable product and are ready to scale up their operations by raising external financing, said programme director Prof. M Shameem Jawed.

It had received an application pool of about 85 startups for the programme which includes six-month intensive training and mentorship via structured inputs fr0m IIM-Visakhapatnam faculty and industry experts on various matters of business model, costing and pricing, cashflow management and fundraising, go-to-market and operational strategies, and preparation of pitch deck among others.

Each startup will receive 70+ hours of one-to-many inputs via a series of workshops, masterclasses, and knowledge series lectures, along with dedicated 50+ hours of one-to-one mentorship.

At the end of their six-months on the demo-day, the startups will also get an opportunity to pitch in front of investors.

The top three performing ventures will also get a take-away grant of Rs 3.5 lakh each.

IIMV FIELD will also provide post-programme support to these 15 startups in their endeavours of fund raising for additional 12 months after the demo-day fundraising.   (KNN Bureau)