IIMAvericks Fellowship program 2021


The IIMAvericks Fellowship Program is an initiative of the CIIE.CO, IIM Ahmedabad that supports IIMA alumni who are looking to start up.

The program helps to provide mentoring & financial support to graduating students to take the road less travelled and start-up their own venture. The grant helps the entrepreneur sustain themselves during this crucial period, and helps them start the enterprise.

The program is offered to graduating PGP/ PGPX students who are starting up anywhere in India.

CIIE.CO follows a virtual incubation model & it is not necessary for the start-up to be stationed in Ahmedabad.

What's on offer?

  • 1. CIIE.CO shall pay the entrepreneur a monthly stipend of INR 40,000 for a period of two years

  • 2. The Fellowship provides a placement holiday, i.e. it allows the student to come back for campus placements within a period of two years if the venture does not work out

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

  • 4. CIIE.CO shall help in reaching industry experts and veterans to advise the startup

  • 5. The selected start-ups shall have access to all CIIE.CO 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 a graduating PGP/ PGPX student

  • 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