IMPunjab launches its Accelerator Program for three months with its first Startup cohort


September 2022: Innovation Mission Punjab is a unique private-public partnership. It aims to empower, build and act as a catalyst in startup communities in Punjab. Today, the Accelerator program was launched with 16 startups that are currently at the revenue stage and product-ready at their Kalkat Bhavan office in the city. A panel of experts representing various industries such as Agriculture, Education, Technology, FMCG, and Retail led the startups through the session. They discussed the viability of their businesses, and the best financial models.

Inaugurated in by Hon. Hon. Shri Bhagwant Man, Chief Minister of Punjab, inaugurated IMPunjab Accelerator. It will offer a three-month structured mentorship program, piloting opportunities and capacity-building programs. Investor interaction is also possible. Business services are available to support startups in the early stages. This program will help startups to build a solid foundation and scale up.

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Somveer, CEO & Mission Director at IMPunjab, spoke about the networking cohort program. He said that the IMPunjab accelerator is a dedicated program designed to grow the startup ecosystem in Punjab. We will start with 16 startups in the early stages of their development. Our goal is to help them build scalable models, market fitment, and get funding ready. Mentoring sessions will take place in person as well as via virtual mentorship sessions with experienced professionals from the startup community. We aim to have these startups funded and ready to scale by the end this program.

Contact and virtual sessions will be used to create work plans for startups throughout the month. They would also incorporate the lessons from clinics and diagnostics panels. To validate their financial and business models, all cohort startups will receive an experimental capital of 3 Lakh INR. Startups will be able understand all functions involved in a startup’s operation. This includes marketing, finance and sales. With financial projections for five years and in place, the startup will be able to invest.

The Mission hosted a first meeting with experts from the startup community. They included JS Vali from IIM-A and Divyaroop Bhatnagar, MD at YFactor Marketing, Abhay Sharma, Founder of TickTalkTo and Saurabh Chandra Rai. Sumit Karranji, Founder at Curlin, Rajendra Lora (Co-Founder & CEO of Freshokartz Agri), Amrit Tiwari, Assistant vice president – Investment, IIM Lucknow Enterprise Incubation Centre), Simarpreet Singh, Priyanka anand Chadha, Executive Director, Sattva Consulting Associates Principal, Sattva Consulting, Priyankaanand Chadha, Priyanka, Priyanka, Priyankaanand Chadha, Priyanka Anandchadha, Sattva Consulting, Sattva Consulting Associate principal, Sattva Consulting.

The Accelerator programme will end with the startups making a pitch to investors at Demo Day. Startups will have the ability to identify clear asks, roadmaps and post-funding costs, and to scale and grow their businesses. There will also be a dedicated demo day for interaction with institutional investors, venture funds and high-net worth individuals who have a clear goal to raise funds.

About IMPunjab:

IMPunjab has strong support from the Punjab Government as well as some prominent names in the private sector. Pramod Bhasin is the Mission’s Chair. He is also the founder of Clix Capital, Genpact and Asha Impact. Ajay Shah D.S., an economist and author, is part of the Board of Directors. Brar, Promoter Chairman, GVK Bio and Bobby Bedi, an award-winning film producer. Naina LalKidwai and Manoj Kohli are also on the Mission’s Advisory Board. Rajan Anandan and Ido Arahoni (architect of Brand Israel) are also part of it.

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