IIMAvericks ENTREPRENEUR - IN - RESIDENCE


The IIMAvericks Entrepreneur - in - Residence (EIR) Program supports IIMA alumni who are looking to start up.

The program will provide mentoring & financial support to recent alumni to take the road less travelled and start-up. The grant will help the entrepreneur sustain herself during this crucial period, and help them focus more on the business. The most critical period for any entrepreneur is the first two years of business. It is during this time that most businesses fail due to operational and budgetary constraints.

The program will be offered to IIMA alumni who have started/ are starting up anywhere in India. CIIE follows a virtual incubation model & it is not necessary for the start-up to be stationed in Ahmedabad.

What's on offer?

  • 1. CIIE shall pay the entrepreneur a monthly stipend of INR 30,000 for a period of a year.

  • 2. CIIE shall assist in raising seed funding for the start-up as and when the need arises.

  • 3. CIIE shall help appoint an industry expert/ IIMA faculty as an advisor to the start-up as and when required.

  • 4. The selected start-up shall have access to all CIIE resources, including but not limited to incubation space in Ahmedabad, complimentary/preferential access to major tech ecosystems like Amazon Web Services, Google Cloud services etc. and a network of experts.

Requirements

  • 1. At least one full time co-founder needs to be an IIMA alum.

  • 2. The fellowship is not suitable for start-ups that have already raised Seed/Series-A Funding.

Evaluation criteria

  • 1. Strength of the product idea in terms of its technology content, innovation, timeliness and market potential.

  • 2. IP/ market traction already generated and the potential of the idea for IP creation/ disrupting the market.

  • 3. Strength of the core team.

  • 4. Funds requirement and viability of raising finance.

  • 5. Break-even period.