In a bid to encourage the young entrepreneurs and promote innovation among startups, the US-based chipmaker Intel and the Department of Science & Technology has announced partnership to develop solutions for driving technology adoption in India.
The entries are open for the ‘Innovate for Digital India’ challenge. The programme will give access to at least 20 teams a grant of INR 2 lakh per team. For the execution part, Intel has partnered with IIM Ahmedabad’s centre for innovation incubation and entrepreneurship (CIIE) as the execution partner.
Speaking on this development, Sachin Kelkar, Head Developer & Partner programs, APAC, Intel said, “Innovation in India is a challenge. Research shows that India’s ranking globally in innovation has come down. Innovation has to happen locally by creating more IPs. The innovation we are seeing in India today are business led and not technology led.”
Intel, CIIE and MyGov have decided to work together for application management, program facilitation and popularisation. Under this programme, entrepreneurs, startups, academicians etc will get access to a three-month accelerator programme in Bangalore and Pune.
In the second phase, the accelerator programme will shortlist 20 ideas at Bangalore and give 12 weeks of mentorship in Bangalore and Pune to develop minimum viable products. Going forward, the top 10 teams will be identified and will get access to grants up to INR 5 lakh per team.
Besides, Top 10 team will also get to show their products to key market players. Out of them, the three finalist will get chance to work with industry players for productization. In Pune both CIIE and College of Engineering Pune (CoEP) will give support to teams in terms of infrastructure support.