STARTUPS/INCUBATIONS
A startup or start-up is a company or project undertaken by an entrepreneur to seek, develop, and validate a scalable business model. While entrepreneurship refers to all new businesses, including self-employment and businesses that never intend to become registered, startups refer to new businesses that intend to grow large beyond the solo founder. At the beginning, startups face high uncertainty and have high rates of failure, but a minority of them does go on to be successful and influential. Some startups become unicorns; that is privately held startup companies valued at over US$1 billion.
Being in startup capital of India, in Bangalore we at BNMIT take pride in encouraging our students who wants to scale up in their entrepreneurial dreams.
ENTREPRENUERSHIP CELL AND INCUBATION PROCESS @ BNMIT
STAGE 1: Aspiring Entrepreneurs
Selection of ED-Cell members:
Entrepreneurship assessment questionnaire
Semesters involved:
1st to 5th semester-BE, 1st & 2nd semester- MBA
Experiment / Exercises (for students & aspiring entrepreneurs)
Games, Exercises, Activities
Flagship event/Signature event
Campus wide- Seminar, Conference, Summit, Panel Discussion
Basic entrepreneurship workshop /Awareness Camps(Ideation, E fundamentals)
Certificate course or University led entrepreneurship course
Webinars
Smart E Apprentice challenge
Skills development workshop
Innovative Project lab Competition
Educator’s National Conclave
E-Week
STAGE 2: Student Entrepreneurs
Selection of ED-Cell members
Participation in IPL Projects/ Idea generation competition, 100% attendance in stage 1 programmes/ Activities
Semesters involved:
1st -8th semester-BE, 2nd–4th Semester MBA
Experience / Expand (student entrepreneurs Planning/running ventures)
Advance topic workshops & B Plan workshops
B Plan Competition
Expert sessions by Entrepreneurs/Investors/Industry experts
Startup internship program/Start up jobs
Boot camps
Meetups + Roundtables (Theme based)
Design thinking workshops
Pitching lab sessions
Topic specific webinars
Educator’s National Conclave
E-Week
Innovative Project lab Competition
STAGE 3: Incubates
Selection of ED-Cell members
Winners of IPL Competitions, Corporate Idea competition winners and other platforms, need to submit business proposals to the Advisory Board for scrutinization of the incubator.
Semesters involved:
1st -8th semester-BE, 2nd–4th Semester MBA
Experience / Expand (Incubates)
Mentorship
Topic specific webinars
Student Entrepreneur/Mentor/Investor Meetups /Pitching
INCUBATE at ED CELL, BNMIT
Incubates at BNMIT can avail state of the art infrastructure facilities with nominal cost. The incubation period would vary from one company to another. However, the maximum period of incubation would be for 18 months.
Facilities/Space
The infrastructure facilities include:
- High-speed Internet access
- Intercom
- Printer
- IT support
- Common pool of hard and soft infrastructure like meeting/conference room, lab facilities and library are provided.
- Cafeteria and working lunch for employees of incubate companies.
Seed loan
Seed loan facility will be available for the incubates upto one lakh. EDcell BNMIT will support the incubates for applying for MSME funds and Angel investors fund.
Other Services
Apart from physical infrastructure as stated above, Business Incubator intends to create certain other supports and services which would include:
- Pool of mentors, experts in technology, legal, financial and related matters, with or without consideration,
- Organizing events to help companies in networking and showcasing their technologies,
Meetings with visitors of BNMIT (such as alumni, VCs, industry professionals).
Incubation Stages at ED Cell BNMIT
Stages. | Guidance Needed | Events | Support |
Idea Stage | For those who need idea For those who have idea | Workshop Mentoring | EDII, Mentors Kanstart, NEN Mentors, Enalytics, NEN |
Prototype Stage | For further development For bringing out Final Product | Mentoring Final Finished product ,IPL Competition | Mentors, EDII, Spectrum Tools, Innomantra JSS Incubation-Mysore,Spectrum Tools,KSCST |
Commercialization/ Patenting Stage | Commercialization of the product Patenting of the project | Market Viability, Market Strategies, Angel Investors Prior art search,Applying for patent | Angel Investors, Venture Capitalists BNM-CIPR, |