GIET ACIC aims to provide a springboard to budding innovators and entrepreneurs who wish to launch themselves into the world of technology and social enterprises. Innovators’ bright ideas to develop a successful product or service based business solutions using advanced technology and social interventions can be groomed and mentored at GIET ACIC. GIET ACIC is designed to provide entrepreneurs all the necessary support and guidance to make their business ventures successful. The highly innovative and productive environment of GIET ACIC provides entrepreneurs the right ambiance to build up technology ventures at international standards.
GIET ACIC encourages social and tech startups with technology products/services innovations with in a time bound process that transforms the prospective entrepreneur to conceptualize the product/service offerings and ideas to develop a ‘Market viable prototype’ followed with rigorous go to market intervention to successfully launch their product and services and subsequently scaling up the venture into a scalable business model.
The incubations stages at GIET ACIC comprised of
a) Pre-incubation Stage (3-6 months)
b) Incubation Stage (6-12 months)
c) Accelerator Stage (3-6 months)
Pre-incubation Stage: (The journey from Idea to Prototype)
Pre incubation stage mainly focuses on ideation stage, where innovators having a potential innovative idea can be provided with a co-working space and necessary mentoring. During this period, the entrepreneur takes up the role of a ‘techno-evangelist’ who develops the idea to into a proof of concept and prepares a product or service prototype for demonstrating the technical feasibility of the idea proposed.
Incubation Stage: (The Journey from Prototype to Business Model)
The Incubation stage would be for 3-9 months for the startups engages in product development and prepare go to market strategies. During this stage, the entrepreneur takes up the role of a ‘Social Entrepreneur’ or ‘Technopreneur’, who brings all his efforts (such as technology, team, seed money) to build a market viable prototype (MVP’s).
GIET ACIC shall define a roadmap, allocate working space and facilitate funds or grants as applicable under various funding schemes and assign dedicated domain experts/mentors and business mentors . GIET ACIC also offer a wide array of value added services like entrepreneur trainings and workshops, skill development programmes, leadership programmes, R&D facilities, local and International business collaborations etc. The incubation stage enables the entrepreneur to be ready with an ‘innovative products or services’ in the form of marketable products/services that can primarily drive the market, and ready to pitch for an investor/VC in future.
Business Accelerator stage: (The Journey from Business Model to Scale up)
GIET ACIC Accelerator stage would be of 3-6 months, and shall provide a super highway for startups to scale up their business models and become successful ventures.
The focus of accelerator stage shall be on rapid growth and to address all organizational, operational, financial and strategic challenges that the startups may be facing. The startups shall be presented to VCs and investors for multiple rounds of funding.