IIM Lucknow Enterprise Incubation Center

Pick the right track

• Startup 101 suits early-stage technology startups that are incorporated in India, with one full-time founder and at least one founder holding 51%.
• EnterpriseHER is for women-led startups that meet the 51% female shareholding rule.
• NIDHI-SSP and the Venture Fund are for startups that are already incubated at the centre, with a DPIIT recognition.
• The Angel Network is for investors. Founders should not apply to it.

How to apply

• Use the startup registration form for incubation. The homepage carries the current call.
• Check the stated eligibility rules before you apply, since they are firm conditions.
• Ask the centre for the current intake dates, because several programme pages still show 2022 and 2023 dates.

What is not stated

• The pages do not describe a selection process beyond the eligibility rules.
• The pages do not state the fee or equity terms for Startup 101 or EnterpriseHER.

IIM Lucknow Enterprise Incubation Centre (IIML EIC) is a registered section 8 company, which means it is not-for-profit. IIM Lucknow set it up at its Noida campus in Sector 62. It supports early-stage startups through incubation, a women-led startups track, seed funding and an investor network.

The centre describes its purpose as speeding up new ventures so that technology and products can be commercialised. It combines an accelerator programme, seed capital, a corporate venture capital fund, a smart co-working space, corporate market access, mentoring and training.

How the programmes work

The main incubation programme, Startup 101, runs for 24 months. The first phase is capacity building through knowledge sessions, workshops and mentor connects. It covers product commercialisation, the value proposition and product-market fit, and go-to-market strategy. The second half focuses on sustainable growth, investor and market access, and becoming fundable. The centre says seed funding is assured for the top quarter of each cohort.

Incubatees can use technology labs and a supercomputer, which the centre says is also available virtually. They also get one-to-one sessions with industry and academic experts, access to corporate partners, help with government schemes, a legal and compliance desk, and introductions to corporate venture capital.

The EnterpriseHER track is a 12-month incubation for women-led startups, extendable by six months. It gives lab access, a startup toolkit and helpdesk, smart office space at a subsidised rate, mentoring, and access to investors and funding agencies.

The NIDHI Seed Support Programme is a Department of Science and Technology scheme that the centre runs for incubated startups. It funds proof of concept, prototyping, product trials, market entry and commercialisation, and it takes equity or a quasi-equity instrument in return.

The IIML Venture Fund is a seed fund for early-stage startups incubated at the centre. It is sector agnostic with a technology focus, and it brings in other venture funds, public sector undertakings and corporate investors alongside its own money.

The IIML Angel Network is for investors, not founders. It is a network of IIM alumni and other individual and institutional investors who co-invest in the centre's portfolio startups. A Goldman Sachs 10,000 Women programme is also run with the centre for women who own established businesses.

Who can apply

For Startup 101, the startup must be incorporated in India and hold a DIPP number. One founder must work full time, at least one founder must hold 51% equity, and the company must be sector agnostic with technology at its core.

EnterpriseHER is open to Indian citizens. A female founder or co-founder must hold a cumulative 51% or more of the shares, and the company must be registered under the Companies Act 2013.

NIDHI-SSP asks for a registered Indian company with at least three months of physical or virtual incubation at the centre. Indian promoters must hold at least 51%, and the startup must be recognised by DPIIT. The IIML Venture Fund uses the same 51% and DPIIT conditions for startups incubated at the centre.

The Goldman Sachs 10,000 Women programme is for owners or co-owners of a business that has been operating for at least one year, with turnover above the stated threshold and at least three employees.

The homepage carries a call for incubation applications with an Apply Now button, and the startup registration form is the route in for Startup 101. The centre's pages do not give a closing date for that call.

Who runs it

The faculty in charge is Prof. Ashish Dubey, a professor of marketing at IIM Lucknow. Pooja Pandey heads the training and women entrepreneurship initiatives.

Locations

The centre's main address is IIM Lucknow's Noida campus, Sector 62, Noida 201307. Its contact page also lists an address at IIM Lucknow's Prabandh Nagar campus in Lucknow.

Read the dates

Several programme pages still show dates from 2022 and 2023. Check the current intake with the centre before you plan around a call.