Startup Incubator & Accelerator UIncept Invites Applications For Edtech Incubation Programme

Gurugram-based incubator and accelerator, UIncept, is inviting applications from idea and early stage startups in edtech, elearning, and skilltech for the fourth cohort of its incubation programme.

The applications for the cohort will close on June 15, and the programme will kickstart in July at UIncept’s Gurugram campus. Any individual or a team that has an idea or an existing solution in the field of edtech, e-learning, skilltech or other allied sectors with a potential to become a scalable business model can apply.

The Structure Of The 11 Month Programme

The programme will be divided into four quarters, each quarter will be dedicated on different milestones for a startup. Right from building upon the idea, to becoming market-ready and finally gaining early traction, funding opportunities and revenues.

Quarter 1- Problem Statement & Opportunity Analysis: Introduce startups to basics and develop problem statements and work on opportunity analysis. There will be an intense learning opportunity for startups about upcoming technologies and how they can use their learning to build their products and services.

Quarter 2- Develop MVP Through Design Thinking: Focus on helping startups build an MVP (Minimum Viable Product) through design thinking methodology.

Quarter 3- Growth Strategy: An overview of demand generation, customer acquisition, marketing strategies, forecasting demand and pricing factors.

Quarter 4- Financing & Profitability: Understanding the external factors of financing including financial valuations, private and public financing, and calculating break evens. The entrepreneurs will also be exposed to pitch techniques, exit strategies and investor sessions leading to a final demo day with investors to raise funds.

UIncept, formerly known as UDGAM, was founded in 2015 by Manish Gupta, Chairman JIMS Group of Institutions. Translating his experience and vision for the education sector, the incubation and acceleration programmes at UIncept have been designed to work with young entrepreneurs with an aim to find solutions to the problems that the education sector currently faces.

Some of the prominent edtech startups from UIncept like University Connection, Propelld, Nurtr, Studyapt have become self-sustainable profitable businesses and/or secured further rounds of funding.

UIncept has supported over 24 startups till date and which have gone on to raise more than INR. 30 Cr. from investors.

Key Highlights Of The Programme

1. The modules in the programme will be customised to suit different needs of each startup.
2. The programme also includes learning the best strategies of project implementation from faculties of prominent B-Schools such as IIM, IIT, MICA, NID, etc.
3. Startups can also connect with corporates, domain experts, market leaders and edtech market stakeholders through UIncept’s association with schools, colleges and universities. There will also be an opportunity to network with the alumni startups, mentors and other experts from the ecosystem such as EIRs (Entrepreneur-in-residence) growth-hackers and more.
4. Each startup will get a starter perk kit of $10k to support their product development stage. This Includes various free credits offered by the perk partners.
5. Entrepreneurs will get access to a research lab with facilities like 3D Printers, AR/VR headsets, IoT kits for any prototyping requirements.
6. The startups will have workspace access for the entire duration of the programme which includes dedicated workstations, conference room facilities, access to training rooms and a recreational area.
7. Startups selected for the programme will be assisted in accommodation in Gurugram through partner co-living spaces.

Why Incubators And Accelerators Are The Foundation Stone Which Startups Need

India is now one of the largest startup hubs in the world. While the country boasts of 39K active startups, a lot of startups have shut shop early, owing to the lack of resources and correct mentoring in their early stages.

A part of the reason for this is the lack of proper guidance during early formative stages. Countries such as the USA have 1 accelerator or incubator for 67 startups. In India though, the scenario is quite different, India has 1 incubator and accelerator per 156 startups.

However the scenario is changing and in the last three years India has seen a growth in the number of incubators and accelerators in the country with more than 250 at present. What is heartening is that now incubators are looking beyond the popular markets to help out startups in alternative sectors, which is important for an inclusive growth of the country’s startup ecosystem.

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