IIT Mandi Catalyst

IIT Mandi Catalyst

IIT Mandi Catalyst is the Technology Business Incubator (TBI) of IIT Mandi, established in 2016 as the first TBI in Himachal Pradesh. Operating from the Kamand Valley campus of IIT Mandi, Catalyst envisions creating a "Startup Valley in the Himalayas" — a destination incubator that combines world-class technical resources with the Himalayan region's ethos. It is backed by DST, MeitY, BIRAC, HPCED, HDFC, and several state and central government agencies.

As of 2025, Catalyst has supported over 340 startups, funded 200+ through various schemes, and generated significant employment across Himachal Pradesh. IIT Mandi received the FICCI Higher Education Excellence Award 2025 for Excellence in Creating Employment and Entrepreneurship.

Programmes

Ignite Programme: For idea-stage founders seeking to validate and build an MVP. Provides structured mentorship, IIT Mandi infrastructure, and access to early grant funding.

Exploration Programme: Cohort-based deep-dive programme for prototype-stage teams, running workshops, design sprints, and market validation bootcamps.

Investment Readiness Programme: Prepares growth-stage startups for institutional fundraising with pitch coaching, due diligence prep, and warm investor introductions.

Funding Instruments

• Idea to Prototype (up to ₹4 lakh): NIDHI-EIR, MeitY TIDE 2.0 EIR, HPCED Sustenance Allowance
• Prototype Development (up to ₹10 lakh): NIDHI-Prayas, MeitY TIDE 2.0, AICTE, ASIIM, Startup India Seed Fund, MeitY GENESIS EIR
• Deployment/Scaling (up to ₹25–50 lakh): Him Startup Yojana (HIMSUP), NIDHI Seed Support System (NSS), Startup India Seed Fund
• BioNEST Centre: ₹5 crore BIRAC grant for a dedicated bioincubator supporting healthcare, agritech, and deep-tech bio startups
• GENESIS Matching Investment Programme for startups requiring matched investor funding

Flagship Events

Himalayan Startup Trek (HST): Annual flagship event (9 editions to date) attracting 1,500+ applications, 200+ founders, and 25+ investors per edition. Held at the IIT Mandi campus.

Track Record

Notable portfolio raises include Mitigata ($5.9M Series A, Nexus Venture Partners), WattCycle (₹10 crore grant from GIC Re), Medyseva Technologies (₹4 crore, Unicorn India Ventures), and Deep Algorithms (₹10.8 crore seed). Catalyst also leads establishment of 36 Pre-Rural Incubation Centres across 12 districts of Himachal Pradesh under the RAMP initiative.

Who Should Apply

Deep-tech, biotech, cleantech, agritech, and hardware-intensive startup founders at ideation and validation stages. Both IIT Mandi-affiliated and external founders are welcome. Particularly strong for founders in Tier 2/3 cities and hill states seeking non-dilutive government grant support alongside world-class incubation infrastructure.