AVISHKAR VENTURE STUDIO

About this scheme

The Avishkar Venture Studio is a six-month acceleration program designed to help emerging technology startups advance their growth. It is operated by CIE IIITH, the Centre for Innovation and Entrepreneurship at IIIT Hyderabad. CIE IIITH functions as a key center for deep technology innovation, recognized as a dedicated deep tech incubator. Its purpose is to actively enable and support startups by offering an ecosystem that includes technological assistance, tailored mentoring, and networking opportunities, all aimed at fostering growth. CIE IIITH has a strong track record of supporting deep tech ventures, leveraging the academic and research excellence of IIIT Hyderabad.

The program offers significant seed funding, where startups can potentially receive up to 40 Lakhs. The exact funding amount is decided based on the startup's development stage, the quality of its pitch deck, and the validation of its technology. This financial support is a primary benefit, intended to directly aid the startup's growth and development throughout the acceleration period.

In addition to monetary support, Avishkar provides comprehensive non-monetary assistance essential for deep tech ventures. This includes direct mentoring from IIITH professors and resident mentors, many with over a decade of experience guiding entrepreneurs. Startups also gain access to advanced facilities, such as prototyping and research labs, crucial for technological advancement and product development. The program also facilitates extensive networking opportunities through various events and offers essential cloud credits, enhancing operational and development capabilities for selected ventures.

Who can apply

• To be considered for the Avishkar Venture Studio, startups must meet several key criteria designed to ensure readiness and alignment with the program's deep tech focus.
• First, the startup must be formally registered in India, which ensures compliance with local regulations and commitment to the Indian entrepreneurial ecosystem.
• A crucial requirement is the presence of at least one full-time founder, demonstrating dedicated leadership and a strong commitment to the venture's success.
• Ideally, applicants should have developed a basic Minimum Viable Product (MVP) and demonstrated some level of customer validation.
• This criterion helps ensure that startups have moved beyond the ideation phase and possess a tangible product or service with initial market feedback.
• Furthermore, the startup's core technology must be rooted in emerging technologies, specifically operating within focus areas such as Artificial Intelligence (AI), Augmented Reality/Virtual Reality (AR/VR), Robotics, Machine Learning, Computer Vision, broader Deep Tech applications, or Natural Language Processing (NLP).
• This focus ensures that the program supports innovations that leverage advanced scientific and engineering breakthroughs to address significant challenges.

Benefits & funding

• Up to 40 Lakhs in seed funding, along with technological assistance, tailored mentoring from IIITH professors and resident mentors, and extensive networking opportunities.
• Startups also gain access to advanced prototyping and research labs, and essential cloud credits to support their development.

How the application process works

The journey below is informational, compiled from the official program guidelines. Applications are submitted directly with Centre for Innovation and Entrepreneurship (CIE), IIIT Hyderabad, in your own name.

1. 1

   Applications are submitted online via Google Forms, followed by a thorough screening process.

2. 2

   Shortlisted applicants are invited for an in-person pitching session to a panel of experts at the IIIT-H campus.

3. 3

   Selected startups are notified within approximately one week.

Frequently asked questions