IIM Udaipur Incubation Center (IIMUIC) is situated at IIM Udaipur campus, floor 7 in the area of 10,000 square feet and providing facilities to startups which includes:
- 120 sq. ft enclosed cubicle or open cubicle or seating area with a minimum of 2 seats is provided (based on the requirement of the startup organization and the assessment of the necessity done by the Incubator management)
- Photocopy & printing
- High speed wifi, 24/7 power backup
- Lan connectivity
- Drinking water
- Well maintained washrooms
- Free or discounted access to events
- Comfortable workstations
- Invention studio / Makers Lab (electronics, mechanical, IOT)
- Reading area
- Meeting rooms with projector
- Conference rooms with projector
- Computer center
- Wide passage
- Seating areas
- Housekeeping service
- Open 24/7 with professional security
- Good open space and freedom to design your working environment and space
- Access to mess and other facilities available at IIMU campus
One of the defining core-values of IIM Udaipur is Entrepreneurship. At IIM Udaipur we strive to have a positive impact on entrepreneurship, fostering innovation and creating economic-value both in the region and the nation. We endeavour through our curriculum, efforts on entrepreneurship-building to create a socially responsible impact.
IIM Udaipur Incubation Center provides students and entrepreneurs freedom and institutional support that they need to explore for their entrepreneurial ambitions. This is reflected in all aspects of our programs; in-depth orientation to entrepreneurship from day-one, an inspiring range of elective courses, intensive mentoring etc.
Mentors who accepts the responsibility of guiding a mentee on aspects of business that the mentor may have a longer experience on. Mentoring is provided on the areas which requires improvements for the growth of the business and part of taking next step in the process, the areas like,
- Services/Product development
- Scalable business model design
- Role of partnerships - why, when and how, sustainable business development
- Market research-product / services
- Design thinking and process innovation
- The art of communicating effectively
- Company formation
- Legal, accounting
- Ip & patent
- Accounting and finance, taxation, financial planning and budgeting
- Business plan
- People management
- Hiring and search for co-founders
- Company valuation
- Financial options/ funding opportunity
- Consumer behaviour
- Digital marketing
- Valuation and venture capital
- How to raise money - equity and banking finance options
- How to pitch, startups mistakes and how to avoid them etc. as per requirements of the business.
IIM Udaipur Incubation Center support startups in legal and compliance management services like,
- Company registration documentation
- Other compliance etc.
- Book keeping services
- Filing IT Returns
- Payroll etc.
- Drafting agreements
- Hand-holding for business agreements etc.
- Filing of Patents, Copyright
- Filing of Trademark rights
- Filing of Design rights etc.
Invention Design Studio provides you with the tools, space, and skills to make almost anything. Makers are more than tinkers and hobbyists. We dedicated to providing an environment to learn, teach, work-on, build, and create next-generation technology; including software, hardware, electronics, art, sewing, metalwork, apps, games, etc.
- Electrical & Electronics Lab: We have all the facilities from a circuit/sensor making, testing to product designing and prototype development using 3D printer and Vacuum former.
- Mechanical Lab: Carpentry tools, lathe, cutting, welding machines
- IOT Lab (Software): High-speed computers with all the necessary software
- Design Studio: We have all the equipment for video making for marketing and promotions.
Every entrepreneur is not a technical expert and thus they are not aware or knowledgeable about the technicalities of the business. We provide support such as;
- Amazon web services credits
- Web Development
- App Development
- Electronic-based product development
- Access to a curated list of service providers
- Access to makers lab (IIMUIC)
- Any other technological support
Any business cannot be run alone and requires support for the launch, growth and scalability therefore, IIM Udaipur incubation Center is here as a connector of startups with the well-established and experienced practitioners of the industry as well as grooming of startups in the incubation process.
Investor is a person or any corporation who allocates capital to incorporation or startup with the agenda of financial return. There can be different types of investor, for instance mutual funds, hedge funds, venture capital, angel investor etc. These investors can definitely help the startup to raise capital for their businesses. Startup can also elevate their capital from other sources, for example, shareholders fund (equity and preference both), long term borrowing, debentures, current liabilities, public fund, bank loan etc. They support as a backbone to the entrepreneur. Here IIM Udaipur Incubation Center, connects startups to the investors when they are ready after all the mentoring where startups know their requirements and creating them pitch ready.