16 Oct 2020 19:54 IST

IIMK rolls out fellowships for entrepreneurs

The pre-incubation support includes co-working spaces at subsidised rates and monthly stipends

IIM Kozhikode has launched a fellowship programme to promote innovation-led entrepreneurship through the Laboratory for Innovation, Venturing and Entrepreneurship (LIVE). The Innovation Fellowship for Entrepreneurship (LIFE) by IIMK-LIVE has been conceptualised for first-generation innovative entrepreneurs who are committed to exploring an idea that has the potential to evolve into a product that solves a real problem.

Announcing the fellowship programme, Prof Debashis Chatterjee, Director, IIM Kozhikode, said, “The fellowship award has been conceptualised so that budding entrepreneurs are emboldened to chase their dreams with financial support, mentoring, and access to a thriving IIMK-LIVE network, which has been a cradle for many successful start-up journeys."

Prof Keyoor Purani, Executive Director, IIMK-LIVE, said that this year-long fellowship programme will have dedicated awards for entrepreneurs from SC, ST community to promote social inclusion. He further added that, at the end of a LIFE programme, if the awardees have been able to start a new venture with a proof-of-concept or a Minimum Viable Product (MVP), they would also be considered for the Business Incubation Programme (BIP) for incubation of their start-ups at IIMK-LIVE. The LIFE programme provides fellowship awards with monthly stipend to aspiring entrepreneurs for developing technology and bringing innovation into a business venture.

LIFE is an IIMK-LIVE offering under the NIDHI-EIR initiative of the Department of Science and Technology, Government of India. Interested can apply at ‘www.iimklive.org’ by November 15.

What does the LIFE fellowship programme offer

· The LIFE award recipient will be eligible for a grant in the form of monthly stipend upto ₹30,000 and a minimum of ₹10,000 per month for a period of 12 months.

· A LIFE award recipient gets pre-incubation support which includes co-working spaces at subsidised prices, professional service support, and guidance to launch their ideas into a successful business venture.

· Access to LIVE ecosystem network of investors, corporates, partner institutions, alumni and other associates.

· Access to entrepreneurship training and workshops at subsidised rates.