Frequently Asked Questions
We are looking for sector agnostic innovative startups that are not financially/machinery/land intensive. If you are working full time on your idea for past few months, your chances of getting shortlisted is higher than others.
YES, We ask minimum 2 people, including one of the founders, from the team to move to Delhi for 6 weeks during which we intensively work with them to get the startup into the best shape possible. Innovate Delhi culminates in an event called Pitch Day, at which the startups present to an audience that shall include India's top investors.
During the 6-week program, we host fireside chats with mentors such as startups founders, investors and influencers from the startup world to speak.
Since, I will be moving to Delhi for this program what about my accommodation in Delhi?In addition to the sustenance stipend of Rs 60,000 per startup, we shall also provide accomodation as hostel rooms in the IIIT-Delhi Campus.
All the selected 10 startups will be provided work places and access to high-speed internet and labs for an efficient workplace.
Apply online for the summer 2016 program. It is once in a year oppurtunity
We have a standard deal - IIITD will grant of Rs.60,000 in return for your participation in 6-week accelerator program Innovate Delhi 2016. While we may deviate from this exceptional cases, it will still be the case for almost all of the companies we fund. The money is more like financial aid to ensure that people who do need money can cover their living expenses while Innovate Delhi 2016 is happening.
Pitch Day is the big day. It is going to be a day where investors from the country will flock at IIIT D to invest in startups selected for Innovate Delhi 2016.
There is no specific thing startups are expected to be able to present on Pitch Day. So the goal on Pitch Day is simply for startups to present their product or service as convincingly as they can for the stage they are at.
Between and after the presentations on Pitch Day, founders and investors mingle and talk further. The goal for startups is to introduce themselves. Most of the convincing investors to invest happens in subsequent meetings.
Not for Innovate Delhi 2016. We make the decision based on the application form and personal interviews. Investors love demos.
No, we won't sign an NDA. No venture firm would at this stage. The informal commitment to secrecy on our application form is more than any VC would make.
"An idea for startup, however, is only a beginning. A lot of startup founders think the key to the whole process is the initial idea, and from that point all you have to do is execute. VCs know better. If you go to VC firms with a brilliant idea that you’ll tell them about if they sign a NDA, most will discontinue talking. That shows how much a mere idea is worth. The market price is less than inconvenience of signing an NDA" - Paul Graham, Cofounder, Y Combinator.
In fact, we like you. We can probably help any startup that hasnt already raised a Series A.
Yes, you can.
Yes, but the odds of being accepted are lower. A startup is too much work for one person.
We'll consider your application. However, your chances are at least 10 times better if you have a tech team/ tech cofounder in place.
It is much better if you find one yourself through friends of friends than if we introduce you to someone. Teams thrown together for a purpose of starting up usually fall apart under stress. You need some kind of personal connection.
Sorry, at least two from the founding team (at least one founder) has to move to Delhi for 6 weeks because what we do, we have to do it in person. We would not be able to do justice to your startup by not making you move.
Unfortunately, we can't meet every startup that wants to participate in Innovate Delhi. There are just too many. Essentially the application process is the way we decide which of them to meet in person.
Unfortunately, we can't have conversations with everyone about their ideas. If you apply and we invite you to interviews we'll certainly talk about your idea with you though