Mumbai: The Department of Science & Technology, Intel India and Society for Innovation and Entrepreneurship (SINE), a technology business incubator at Indian Institute of Technology (IIT Bombay), have collaborated to launch Plugin is a one-of-its-kind incubation program exclusively for hardware startups in India. Plugin will facilitate hardware & systems-based innovation. The incubation program was launched on 5 August 2016 in New Delhi.
Plugin program provides incubation with a focus on moving from proof of concept to final product, business model validation, and commercialization. The selected companies will get access to Intel India Maker Lab in Bengaluru & SINE facilities in Mumbai.
Promoters of hardware systems-based startups, including but not limited in the areas of electronics product, IoT, Embedded Product systems, Design, Computing, etc. which broadly fall under the category of electronics sector are eligible for applying for this program. These could be in domains such as MedTech, SMART Cities, Automobiles, CleanTech, Industrial IoT, Consumer IoT, and other relevant technology areas.
Applications for the hardware startups program have been accepted from 6 August 2016 and will end on 23 September 2016. Up to top 50 applications will be reviewed in details by an expert committee and up to 20 applications will be selected for incubation. The incubation program is open to teams/start-ups less than 3 years old,
As per the Plugin program, grant of at least 6 lakhs per company will be given upon enrollment. Individuals admitted to the program will have incorporate a Pvt. Ltd. to avail funding. The financing support per company may be readjusted according to the number of companies in the Program. In addition, there will be prize pool of about 40 lakhs available to up to top four performing companies after 6 months.
For more details on the incubation program and application procedure, promoters and confounders should visit the official page of Plugin program, which is given below.