IAMAI launches first virtual incubation programme for tech startups

NEW DELHI: Industry body IAMAI has launched the country's first virtual incubator for short and mid-term needs of technology-related startups arising amid the global pandemic situation.
“More than 80% of the startups in the digital tech space have been negatively impacted by the global pandemic and we appeal to all large companies to extend their support to these start-ups through the virtual incubator”, IAMAI president Subho Ray said.
The primary function of the virtual incubator is to address the needs of the start-ups located outside the major cities of Bengaluru, Mumbai, Chennai, Delhi, and Kolkata, the Internet and Mobile Association of India stated.
"Many of the 'Made for India' products and service ideas have their genesis in smaller towns and cities. But these startups and their founders being outside the so-called startup network find it difficult to validate their ideas, garner sufficient funds for “proof of concept” and are not able to find suitable guides and mentors. It this category of startups that can have and nation-wide access and possibly global access in the future by connecting with IAMAI’s virtual incubator," it added.
The industry further said that the programme will be a virtually accessible that will provide state-of-the-art incubation services to every Indian startup and enable them to charter their success stories. It will entail close supervision by the dedicated mentors from the relevant industry for multiple cohorts that would be created based on the domain, sectors and the progress of the startups.
IAMAI also said that it would be providing an initial start-up kit worth 70 Lakhs to all those registered with the virtual incubator.
As a part of its Mobile 10X initiative launched in 2015, IAMAI currently runs three not for profit incubators in Bengaluru, Kozhikode, Gurugram supported by the respective state governments and has curated through a structured programme about 300 start-ups in the digital tech space.