IoE has earmarked an amount of Rs. 3 Cr. to support Desai Sethi School of Entrepreneurship Pre-incubation Activities. 

Objective 

Under the IoE-funded DSSE Pre-incubation program, the following activities targeting IITB fraternity– students, staff, faculty and alumni will be taken up. The focus will be early-stage innovation and venture creation.

• Mini-grant support to Student teams working on product / venture development ideas as part of Entrepreneurship courses.
• Scaling up of the IDEAS Pre-incubation Program with boot camps, increased number of teams within a cohort, increased mini-grant support to teams from 2.5 Lakhs to 5 Lakhs, Entrepreneur in Residence Stipends of Rs 50000/- a month to IDEAS participants who have graduated from IITB and working full time on venture creation. 

Expenditure Plan

• The expenditure on the program will include but not be limited to the following:
• Mini Grants to Student Teams in the ENT Courses (Max of Rs 50000/- per team)
• Mini Grants to Venture Teams in the IDEAS Program (Max of Rs 5 lac /- per team)
• Outreach to the fraternity
• Events, Workshops, Seminars – Organization, Travel & Communication costs

Targeted Outcomes

• Guiding Mentor students in Entrepreneurial thinking and Job Creation
• Accelerating venture creation within IIT Bombay ecosystem; encourage students to take up entrepreneurship through courses and early-stage venture creation program.
• Enabling IIT Bombay to meet NISP 2019 objectives
• Attracting participation of alumni and corporate as mentors / sponsors / champions of Entrepreneurship 

IDEAS Program Detailing

– Level 1 Pre-Incubation Teams:

• Understand and validate the problem-solution fit
• Identify potential customers and the value propositions (Product – Market PM fit)
• Meet potential customers, partners and stakeholders etc. to arrive at the above
• Develop a POC/MVP (Proof of Concept / Minimum Viable Product) to validate  the P-M fit further
• Validate channels and get-keep-grow strategies
• Create a MAP of the potential business model and gain as much validation as possible

 – Level 2 Pre-incubation Teams

• Validate the P-M fit with POC/MVP/Pilot
• Validate channels and get-keep-grow strategies
• Show traction or early acceptance
• Perform early testing of the repeatability and scalability of the business model
• Get ready to incubate / accelerate / raise investment / launch

Support provided through the program

• Cohort-based Level 1 program with masterclasses, team coaching and reviews. Self-paced Level 2 program
• Mentoring by alumni – entrepreneurs and subject-matter experts
• Mini Grants up to Rs 5 lakhs
• Access to facilities, networks, resources