LetsAccelerate, an initiative of LetsVenture, collaborated with Sikkim’s Department of Commerce & Industries to launch an AIC (Atal Incubation Centre) at the Sikkim Manipal University. Based at Rangpo in Sikkim, SMUTBI (Sikkim Manipal University Tech & Business Incubator) saw the inaugural cohort kick-off with a digital launch on April 4. SMU-TBI is the first AIC in the North East and is backed by NITI Aayog and the Government of India under the Atal Innovation Mission (AIM) and its aim is to become the focal point to mentor startups and foster an ecosystem for entrepreneurship in the region.
SMU-TBI will incubate early-stage tech and non-tech ventures by providing infrastructure, consultancy, and seed grants. The incubation center encourages young entrepreneurs to delve into generating “Valued Human Resources” rather than traditional manpower. “Innovation is the key to successful entrepreneurship ventures. Through our 3-month incubation programme, young thinkers can hone their skills to become employers and not employees,” says Tej Chingtam, CEO of AIC-SMUTBI.
Shanti Mohan, co-founder of LetsVenture, added: “By partnering with incubators like AIC SMU-TBI, LetsVenture looks to play an active role in fostering entrepreneurship in the Noth-Eastern region of the country. We believe this will also eventually boost job creation opportunities and give higher visibility to the many aspiring entrepreneurs. This is the beginning of what we see as a long term commitment from LetsVenture in the North-East”
LetsAccelerate will work closely with SMU-TBI to add value by enabling funding for startups from the region. “We bring value for startups. At LetsAccelerate, we provide all the building blocks of a successful incubator and an outcome of that is easing the journey of fundraising for startups. We help incubators design, implement and manage strong engagement programmes by bringing in the best mentors and subject matter experts,” said Prajakt Raut, Managing Partner of LetsAccelerate.
What’s on offer at SMU-TBI?
- Funding: The AIC can offer funds of up to INR 25 lakh to the startups that stand out
- Co-working: Startup teams can use the Sikkim Manipal University campus for working and being incubated
- Mentorship & Consultancy: Startups will get the exposure to be mentored by experts across India, Singapore, and the silicon valley
- VC Network: Scaled funding will be facilitated by various angels and VCs through LetsVenture and other partners
- Branding: The AIC understands the value of branding. Case-specific best practices will be suggested to startups for helping them grow and improve their brand image
- Partnered Services: Partnered services such as accounting, legal services, etc. can be availed by startups at a discount
16 start-ups across agriculture, FMCG, tourism, technology. are a part of the inaugural cohort.
- AgriDhaan Global
AgriDhaan aims to improve farming practices by providing accurate information on soil fertility, water, and climate to predict the best possibilities for a good harvest. The company will also improve the availability of farming equipment in the market
Pahiya is focussed on providing ease of transport for people who travel solo or in pairs. The idea is to provide e-bikes for rent at lower rates
- Amazing Adventure
Amazing Adventure aims to structurize adventure tourism through its web application. The app will communicate package details with information about itineraries and travel guides, and also receive payments from customers
- CAS Collective
CAS Collective is a group of MSEs that is engaged in bamboo works under the National Bamboo Mission (NBM). The company will use home-grown bamboo to build and sell bamboo handicraft collectibles, furniture, and other value-added products
- Chakras Farm
This start-up has a vertical aqua-phonic farming technique. The adoption of this technique will help farmers produce completely organic products, avoid using pesticides, and save up to 95% water when compared to traditional farming methods
Cloudbelly aims at providing the best cost-to-nutrition meals from cloud kitchens at the door-steps of customers
- Gladiolus Language Nectar
Gladiolus Language Nectar aims to help individuals to learn Indian and Foreign languages. It creates apps that gamify the process of learning grammar for 9 languages including French
- Heal Bridge
Heal Bridge is focused on creating a well-designed website to help patients find the right doctor at the right time. People can get appointments for doctors, clinics, diagnostic centers, and also vet clinics. Blood samples can be collected from home itself and the report will be delivered through WhatsApp or at home
- Hidden Lamp
The company aims at providing an ecosystem where students can give shape to their ideas. For this, they will organize STEM awareness camps, develop trainers to train young minds, design DIY kits that align closely with theoretical concepts and help students improve critical thinking
- JUM Mobility
Jum will provide e-bike and kick-start scooters that are quick, pollution-free, and easy to use on a rental basis. They are also facilitating an IoT based user app through which users can easily find and dock rented e-bikes
Kuzu aims to bring together traditional knowledge and advanced technology for dedicating brands to the textile needs in the mountainous regions of the world
The company is building a platform for the connected cars ecosystem. It can be used by vehicle manufacturers to improve vehicular safety and enhance driving experiences
- Menla (LA)
Menla aims to provide accessible communication content on personalized healthcare across Sikkim by 2024. The motive is to connect mountain communities and promote preventive healthcare awareness
- Shield Tech Infosec Solutions
The company aims at undertaking a dynamic approach to make a positive impact in the cybersecurity space. They will provide a platform for professional cybersecurity training, and cybersecurity solutions and services in both government and private sectors
Earthier aims to produce Yacon syrup (indigenous to Himalaya) to help patients fight sugar diseases, and become healthier as a whole. The company is now looking forward to improving packaging and revenue streams
The objective of this startup is to make fresh, whole leaf and aromatic teas available & affordable for the world. They use natural ingredients & extracts blended with teas to offer plain, herbal, superfoods, health & wellness based teas for hot & cold beverage consumers.
These companies are being mentored by experienced entrepreneurs, investors and senior professionals. The mentor panel includes Shanti Mohan, Paras Malhotra, Syna Dehnugara, Priyanka Ahuja, Shiraz Javed, Akhil Vohra, Shivam Dang, and Prajakt Raut.
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