Programme

LJ Knowledge Foundation Antrapreneur The Business Incubator maintains and grows a support system for knowledge-based start-ups founded by Lok Jagruti Kendra. Admission in the incubator is subject to business plan review process. Maximum incubation support is for three years. On completion of three years, incubatees have to exit the incubator.

Antrapreneur – The Operational Strategy/Methodology

Phase 1

To create awareness about entrepreneurship and conduct activities aimed at entrepreneurship development. Facilitate idea generation and impart knowledge in business plan development and implementation to the aspiring entrepreneurs, by way of interaction with those successful and with expertise.

This is achieved by means of
  • Periodically organizing workshops, seminars and talks by entrepreneurs and people from diverse backgrounds.

  • LJIMS has incorporated unique activities like Archetype-Business model competition, Business idea competition, Development of Case studies by visiting business ventures and CRADLE series of lectures to support and provide platform for the same.

  • Facilitating visits to various sectors across the country to enable students to obtain ideas for new business ventures.

  • Arranging for part-time assistance, short-term and long-term internships with entrepreneurial ventures.

  • With this attempt will be made to give the students a first-hand exposure to the challenges faced by entrepreneurs through real-world projects with startups. This provides for a hands-on learning experience for them. This is an effort to not only add value to the students, but also benefit the startups by providing them the much needed management and technical assistance from the students and faculties of LJIMS. 

Phase 2

To provide mentorship for converting Ideas to Business Plans to Startups. Function as a guide for Students/Alumni/Venture Capitalist with creative ideas which can be transformed into successful companies.

This involves:
  • Offering assistance in writing a business plan to prospective entrepreneurs.

  • CRADLE [Capability Recognition And Development Lessons for Entrepreneurship], MAX (Marketing Excellence series), FINEX (Financial Excellence series have been introduced where we invite first generation entrepreneurs and key people from business houses to provide platform and network for entrepreneurs.

  • Networking with other entrepreneurial clubs like CIIE, Centre for Entrepreneurship Development, Government of Gujarat, Gujarat Council for Science and Technology, Industries Commissioner, Gujarat Innovation Society, Gujarat State Innovation Council. Intend to use these platforms to network with entrepreneurs.

  • The aim is to gain insights through their experiences and also to explore opportunities for professional interactions for the students.

  • Arranging interactions between students, entrepreneurs, venture capitalists, and others from the corporate world. 

Phase 3
  • Running a TBI unit to nurture and develop innovative ideas from the LJK community.

  • The TBI unit will help in the initial phases of the start-up to provide support for start-ups founded by LJK faculty, students and alumni.

  • Support provided includes infrastructure, networking, financial support, mentoring, etc.

Potential Stakeholder and Support Mechanism

Stakeholders could be:
  • Students

  • Faculty

  • Alumni

  • Entrepreneurs

  • SME’s

  • VCs

  • Industry

  • Government

The probable Stakeholders support mechanism is as follows:

A person having business plan but short of capital and infrastructure
  • Provide him/her infrastructure, common facilities and provide mentoring session for the same.

  • Provide a platform for him/her to interact with potential investor.<

  • Help him/her develop the business idea.

A person having capital but does not have a business idea
  • Generate business ideas which will be evaluated by our core team and help him select the business idea.

  • Provide a platform for him/her to interact with industry experts.

  • Help him/her develop the business idea.

A person having capital and business idea but need a direction for execution
  • Provide a platform for him/her to interact with industry experts.

  • Provide mentoring session and help him/her develop the business idea.

  • Provide training session as per the requirement to have skilled man power.

  • Consulting and Research for specific area or business process.

A person wants to invest, want good returns and remain as the stakeholder of the business venture without operational involvement
  • Generate business ideas which will be evaluated by our core team and help him select the business idea.

  • Help him/her develop the business idea.

  • Identify key people and workforce to execute, launch and manage the business idea venture and ensure that the investor get high returns.

Existing business venture requires support in functional areas, product launch, business expansions plans, training of manpower, etc
  • Provide training session as per the requirement to have skilled man power.

  • Consulting and Research for specific area or business process.

  • Provide mentoring session and help him/her support the product development and launch process.

  • Be part of operational execution of the expansion plans for the business venture.

Antrapreneur – The Process

We will assist students to apply to us for investment, incubation and mentoring support through our dedicated initiatives - depending on sector and stage.

We also keep exploring ideas and investment opportunities beyond the above programs and will be evaluating the business plan. 

The business plan will cover the following aspects - Student/Alumni TBI
  • Problem you are solving

  • Your value proposition - the magical technology or business model innovation that differentiates you

  • What enables you - the magical technology or business model innovation that differentiates you

  • Your revenue model - how will you make money, pricing etc?

  • Sales and Marketing Strategy - how do you plan to spread the word around about your solution, how would you sell it?

  • Management Team - Who are the main team members and advisors

  • Financial projections - What are your cash flow projections - expenses and revenues? How much money do you need to raise as investment? When would you start breaking even operationally?

Antar Laab- Accelerator

Antrapreneur, will provide business counseling to lay a firm foundation of business skills, intellectual support to encourage innovative and independent thinking, training to hone their skills and thinking, Antar Laab - a space where ideas can grow and flourish through mentoring and finally networking to take these ideas further through access to markets, money or mentors.
The Antar Laab will take place at Antrapreneur, Lok Jagruti Institute of Management Studies, Ahmedabad.
During the Accelerator process, team and angel investors will provide active mentoring to our investee companies. Moreover, we will also involve relevant industry experts on our network as needed. During the course of three months, we will setup interviews and Q&A sessions with industry experts in some aspect of startup – founders, venture capitalists, and executives from different companies, journalists, company secretaries, accountant, patent specialists, lawyers and more.

All our activities will be geared towards providing our investee companies with:
Business support:
  • Work with start-ups on their business plan.

  • Help them design products that functional and user friendly, which will provide customer delight and keep bringing them back.

  • Bring technical mentors/experts to help architect product that are secure, perform as expected under heavy load and scalable to support large user database.

  • Impart our knowledge and use our network to market product through press, digital and social media channels.

  • Teach to define and measure customer-driver metrics and acquire initial customers through our network as well as distribution on different platforms.

Infrastructure support:
  • Help you find and hire first employees.

  • Provide infrastructure support in terms of office & meeting place, broadband connection, server hosting etc.

  • Get your company incorporated if it’s not already done.

  • Bring consultants who can help you decide what to do, patent and when.

Investment support:
  • Introduce our startups to right investors

  • Teach them how to pitch and close a deal

  • Provide a chance to showcase their product and business plan in front of early stage investors.

ANTAR DRISHTI – THE TBI DEMO DAY

The Accelerator ends with a big bang in Antar Drishti – The Demo Day. It is a one-day event where we invite prominent early stage Angel/VC investors and corporate to participate. Antrapreneur’s Antar Laab - Accelerator startups pitch their revised business plan in front of the investors. Our startups get to meet and interact with prominent investors of their domain on this day.

FUNCTIONS OF ANTRAPRENEUR
  • To organize Entrepreneurship Awareness Camps, Entrepreneurship Development Programmes and Faculty Development Programmes in the region for the benefit of students.  

  • To develop and introduce curriculum on Entrepreneurship Development at various levels of the parent institution and other institutes in the region.

  • To conduct research work and survey for identifying entrepreneurial opportunities

  • To guide and assist prospective entrepreneurs on various aspects such as preparing project reports, obtaining  project approvals, loans  and facilities from agencies of support system, information on technologies, etc.

  • To organize guest lectures, TV & Radio talks, Seminars, etc. for promotion and growth of S&T based entrepreneurship.

  • To arrange visits to industries for prospective entrepreneurs.

  • To extend necessary guidance and escort services to the trainees in obtaining approval and execution of their projects.  

  • To act as a Regional Information Centre on business opportunities, processes, technologies, market, etc. by creating and maintaining relevant data bases.

  • To provide testing, calibration, quality assurance, design, tool room, pilot plant and other facilities for entrepreneurs besides expertise in intellectual property rights, patents search, etc.

  • To render advice to sick enterprises and assist the entrepreneurs in rehabilitating them.

  • To conduct skill development training programmes leading to self/wage employment

THE FOLLOWING POINTS DESCRIBE OUR INCUBATION PROGRAMME.

Who can apply for incubation programme?
A team which consists of at least one member from LJK community who could be

  • LJK students

  • Alumni

  • Faculty

  • Permanent Staff

  • Research Partner Institute

OR
A start-up where none of the founders are from IIT Bombay, but start-up has linkage with LJK.


What is the process for admission in LJ Knowledge Foundation Antrapreneur The Business Incubator?
Applicants have to submit business plan to LJ Knowledge Foundation Antrapreneur The Business Incubator. Admission to the business incubator is based on evaluation of business plan carried out by external reviewers with relevant expertise.


How long can a start-up stay in the incubator?
An incubatee company can stay in the incubator for a maximum of three years.Pre-incubatees can remain so till they achieve certain business milestones.


Do the incubatees have to be incorporated companies?
Yes. A team may approach for incubation without being a registered company but once incubated, all incubatees have to be registered as a private limited company within 3 months of incubation.


When will an incubatee company exit the incubator?
Incubatees have to exit LJ Knowledge Foundation Antrapreneur The Business Incubator on completion of three years’ term or if the companies do not perform during the incubation period.


What are the facilities and support we get from incubator?
Incubatees get physical infrastructure and business support.  During pre-incubation, potential entrepreneurs also get office space, assistance in preparation of business plan, and business advisory support. Virtual incubatees get advantage of business support from LJ Knowledge Foundation Antrapreneur The Business Incubator.


What do we have to pay for incubation support?
Companies have to pay consideration for incubation which is combination of subsidized rent, small equity and revenue share.


Where do I find more details about incubation programme?
For more details, please refer to  LJ Knowledge Foundation Antrapreneur The Business Incubator _Policy and Procedures