Accelerator is a typically a 3-6 months’ fast track structured program helping ideas get accelerated to the next orbit. An accelerator aims at achieving one or more of the following objectives - introduction to entrepreneurial development to identify business opportunities (real problems that require real solutions), validate product ideas, engage with potential customers, build a scalable business model, build a product demonstration, manage team dynamics and pitch to investors. The Accelerators can be used to boost the Incubator’s existing activities to build an attract high quality startups, and have a customer centric validation model which enhances investment readiness as well as worthiness.
NSTEDB, DST would encourage its potential TBIs and its existing TBIs to extensively adopt and evolve the accelerator model. This is aimed to help aspiring entrepreneurs in the country, including the ventures already being incubated at these TBIs, to be guided in a rigorous and more structured manner, through deep mentoring process and access to funding and market networks.
Objectives of NIDHI-Accelerators
- To fast track the growth of potential start-ups through rigorous mentoring and networking support in a short span through existing TBIs.
- To attract subject matter experts, mentors, and angel investors get associated with TBIs through the structured accelerator programs.
- To build a vibrant startup ecosystem, by establishing a network between academia, financial institutions, industries and other institutions.
- To act as a hub for several incubators in the region, so that high-potential startups can be fast-tracked for increased exposure and validation.
Characteristics of NIDHI -Accelerator Programs
It is envisaged that 2 broad types of Accelerator Programs will be supported by NSTEDB under this scheme:
- Sectoral Programs – These are accelerator programs focused specifically on startups focused on a certain sector or theme. For example, accelerators can be focused on a very specific theme like Smart Cities or sector like healthcare. Sector specific programs have the advantage of being able to bring a critical mass of relevant stakeholders (mentors, customers, investors, policy-makers, internal team etc.) under one roof – which can deliver significant value to the startups.
- Non-Sectoral Programs – Non-sectoral accelerator programs are most relevant for locations where critical mass of ventures within a specific sector may not exist and the “batch structure accelerator program” may still be able to deliver significant value to the entrepreneurs, even though they are from diverse sectors.
List of Accelerator Programme Centres: http://nstedb.com/Nidhi-List/List%20of%20Accelerator%20Program%20Centres.pdf
Detailed Document on NIDHI-Accelerator programme: http://nstedb.com/New_Programmes/2018/NIDHIAccelerator.pdf