IIMA Ventures, formerly known as IIMA-CIIE, has extended support to 14 startups from Indore as part of its inaugural Cohort of the Indore Smart City Accelerator programme.
The initiative, aimed at leveraging entrepreneurial talent to tackle urban challenges, reflects a proactive approach towards nurturing innovation ecosystems tailored for smart city development. The accelerator programme is designed to provide holistic support to early-stage startups, with a particular focus on those catering to the needs of urban local bodies (ULBs). Through mentorship, guidance, and access to resources, IIMA Ventures aims to equip these startups with the necessary skills and insights to navigate the complexities of engaging with public sector clientele effectively. Key components of the programme include comprehensive training in areas such as business modelling, unit economics, Business-to-Government (B2G) sales strategies, tender application procedures, and investment readiness. This structured curriculum, facilitated by experienced angel investors and industry experts, is tailored to enhance the market readiness and scalability of participating startups.
The programme witnessed an overwhelming response during its launch phase, with over 100 startups vying for participation. The selected ventures showcased diverse solutions addressing critical urban challenges, including mobility, cleanliness, safety, security, and air quality. A rigorous selection process culminated in a three-day bootcamp, where entrepreneurs underwent intensive training to refine their business propositions and enhance their market viability.
Notably, three startups from the programme have been earmarked for pilot projects by the Indore Smart City initiative, highlighting the tangible impact of collaborative efforts between the entrepreneurial ecosystem and government entities. Aumsat Technologies, Arc Robotics, and Pod Pitara emerged as frontrunners, poised to make significant contributions to urban infrastructure and services. In a statement, IIMA Ventures reaffirmed its commitment to fostering innovation and entrepreneurship as catalysts for positive change. With the accelerator programme gaining momentum, participating startups are poised to embark on a transformative journey, empowered with knowledge, mentorship, and strategic insights. Supported by IIMA Ventures and other stakeholders, these ventures are well-positioned to navigate the complexities of the urban landscape, driving sustainable development and resilience in Indore.
