IIT Delhi invites Startups to participate in Sona Comstar Innovation Program to develop urban mobility solutions

By : |September 10, 2020 0

Smart, safe, and clean mobility solutions are of paramount importance specially in the urban regions which are grappling with challenges like traffic and pollution caused due to the ever-increasing population in such centers. There is an unmet need to have a multi-faceted approach in improving urban mobility to make it faster, efficient, and clean. Thus, Sona Comstar has partnered with IIT Delhi to support the development of innovative solutions from startups in this area.

Problem Statement

IIT Delhi and Soma Comstar believe that we need innovative mobility solutions that can change the way we travel. Thus, we need improvement over existing solutions in various areas including, but not limited to

a) Improvements in EV technologies like extending range through battery capacity improvements, and battery management, fast charging infrastructure, efficient motors, mobile charging solutions for emergencies, etc.

b) Vehicle diagnostic solutions to understand maintenance issues.

c) Autonomous functions in vehicles especially pertaining to safety, convenience.

d) Innovative last mile connectivity solutions for safer reach.

If you have concepts or ideas relating to e-mobility, smart mobility, solutions for safe, clean, and eco-friendly mobility with IP potential; if the product has strong translational or commercial prospects, IIT Delhi invites you to take part in the challenge. The product or process innovation should aim to have a substantial market potential or disruption.

It should be replicable at an economical cost and satisfy a specific need. The startupreneur must have clear objectives in terms of validating their proof of concept. The project should focus on generating the necessary technical data needed for de-risking i.e., reducing uncertainties in the technology, which in turn will be helpful to demonstrate it to investors/ funding programs for startups.

Further, IIT Delhi and Sona Comstar will not consider exploratory projects. That is, they should not lack technological depth or novelty. Also. it should not have serious ethical or EHS risks.

Who can participate?

All startups need to be registered as a Pvt. Ltd. entity under the Companies Act, 2013. It also shouldn’t be more than 5 years of age. Further, the cash in-flow in terms of funding/grants/revenue from sales or operations should not be exceeding ₹ 2.5 Cr.

An Indian Citizen should hold the majority stake (>51%) and control of the startup company. Also. the major shareholders/ promoters or directors (having >20% stake) should not be directors/promoters of ineligible companies.

Timeline of the event

The last date to apply is September 15.

Both the hosts will provide incubation and funding support over a period of 24 months. They will release the fund in installments against milestones as per the objectives of the project. The startup will need to comply with the incubation rules of the institute.

Benefits of the program from IIT Delhi

The Entrepreneurs will get the technical advice and mentorship from the Institute’s faculties. The latter will work as scientific advisors with the startups. A network of IIT Delhi, industry leaders, and other institutions will review, evaluate, and monitor the process. FITT will organize periodic events to provide learning, visibility, and networking opportunities for the incubatees.

FITT will hold business mentorship programs and workshops to help the startups improve their business plans and market outreach. The FITT IP Cell will assist the incubatees with IP services on a need and availability basis. The program will also connect the startups with FITT’s network of investors/VCs.

How to apply?

You will have to make submission of application forms over e-mail to bbif.fitt@gmail.com with the subject of your e-mail as “APPLICATION FOR SONA-COMSTAR-IIT DELHI INNOVATION PROGRAM (SCIDIP)”.

To download the application form and read more about the program, visit the official website.

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