HYDERABAD: ICICI Knowledge Park (IKP) that had set up the largest makerspace and prototyping centre — IKP-EDEN that stands for engineering, design and entrepreneurship network — in Bangalore this year is planning to kick start an accelerator programme in February 2016 to boost product startups in the country. EDEN is a hardware development centre and currently has has six startups.
IKP chairman and chief executive officer Deepanwita Chattopadhyay said IKP-EDEN has tied up with two global medical technology companies as partners for its first accelerator programme.
“What we have seen is that many startups get an initial grant funding and proceed to an extent where a proof of concept is built. But going beyond the proof of concept and raising substantial money is a different ball game and for that we will have initiated this six-month accelerator program — Technology Accelerated Program (TAP) — which will start in February next year,” she said.
Explaining the procedure, Chattopadhyay pointed out that IKP will be calling for entries and its global medical technology partners will select the startups and provide individualized mentorship during the programme.
“They have also put a small seed grant and won’t have any hold on the IP for the first six months. After the demo day, they can decide on investing. This will also attract VCs and we hope the entire area of product development will get a boost,” she said, adding that the idea is also to make the model of IKP-EDEN self-sustainable.
“Once we see that EDEN’s model is self-sustainable, we will replicate in other states as well,” she added.
Meanwhile, she also said that IKP will be holding its annual flagship event — International Knowledge Millennium Conference — on November 2-3 in Hyderabad this year. The focus of this year’s conference will be on innovation and how to make global products out of India. This apart, we will also be focussing on the aspect of how to take innovations from India to countries in South Asia and Africa, among others.