FAQs – Incubation Program @ LIVE

What is LIVE?

LIVE is an Entrepreneurship Development Centre and Business Incubator at the Indian Institute of Management Kozhikode. This is established by IIM Kozhikode and is supported by Department of Science and Technology, Government of India.


What is LIVE HIVE?

LIVE HIVE is a smart co-working space and startup community at IIMK LIVE.


How does LIVE support entrepreneurship?

LIVE is envisioned as a Business Incubator with a purpose of creating a National Centre of Excellence that promotes innovation, new business venturing and entrepreneurship. Apart from Incubation Program for Start-ups, it seeks to carry out activities that promote entrepreneurship on IIMK campus and among greater community, conduct training and research in the domain of entrepreneurship, foster idea generation through competitive events, extend pre-incubation support to shape ideas, conduct accelerator/ cohort-based programs and other assistance to entrepreneurs that can help their ideas turn into successful enterprises.


What is the Business Incubation Program all about at LIVE?

Incubation program at LIVE intends to provide support and services to the Startup enterprise in good faith to pursue its objective to promote entrepreneurship. LIVE incubation program would support the startup firm for a maximum period of two years from the year of its first support. The incubation program at LIVE is designed to support start-up enterprises in Business Model Validation and Product-Market fit stages. In the figure below, Enterprises in the stages within the dotted square are likely to benefit from the Incubation Program


What benefits Start-ups get in the Incubation Program at LIVE?

Start-up firms incubated at LIVE would be provided with smart, wi-fi enabled, co-working spaces with meeting/ conference rooms and other necessary office facilities at highly subsidized rates. Apart from the office spaces, Start-up enterprises would be provided mentorship support by subject matter experts from IIMK faculty and/or industry. Start-ups at LIVE apart from benefitting from community of peer-start-ups, the faculty and the students in various programs at IIM Kozhikode can benefit from Networking events, seminars and workshops. LIVE would support Start-ups financially by funding from the funds it manages or provide access to investors – angels and venture capitalists. Recognition is one of the benefits Start-ups can look forward to as selected enterprises at LIVE would be considered bonafide Startups and can use the affiliation to benefit from government schemes and programs for start-ups and to promote the business by appropriately using ‘incubated at IIMK LIVE’.


What is the eligibility requirements for applying to Incubation Program at LIVE?

Incubation Program at LIVE is open to any entrepreneur/ Start-up and is not restricted to the ones promoted by IIMK students/ alumni/ faculty members. Those associated with IIMK may get priority for the similar merit of the idea. The venture, however, should be ready with proof-of –concept/ prototype and should be a registered firm (should be registered in 3 months’ time from confirmation of admission) to be eligible.


I am not associated with IIM Kozhikode as student/ alumni/ faculty. Can I apply for the LIVE Incubation Program?

Yes


I am a student/ alumni/ faculty of IIM Kozhikode. Do I still need to apply for the LIVE Incubation Program?

Yes. There is only one admission process for all applicants. IIMK students/ alumni/ faculty may get priority subject to merit of the business idea.


Is there a technology, industry or sectoral focus?

While LIVE seeks to develop resources to focus on a few thrust areas so that it can provide intensive support and services to the Start-ups part of the incubation program, at this juncture – for the first round of admission – it would not restrict applicants based on technology/sectoral focus. It is, however, important that the business idea/ product is innovative.


What is the admission process to the Incubation Program at LIVE?

Admission to incubation program at LIVE is likely to be a competitive process and admission would be strictly based on the selection process. Those ventures/ entrepreneurs who apply formally to the program only would be considered for admission selection process.


What is the deadline for application for admission to LIVE Incubation Program?

LIVE invites rolling applications for its Incubation Program throughout the year and there is no deadline for application. Selection, however, would be done on a quarterly basis and decision would be communicated accordingly. Next round of selection would be in first week of March 2017 and Applications made till February 21, 2017 would be considered for that round. Applications received after February 21, 2017 would be considered for the next round of selection in June 2017.


How do I apply to the Incubation Program at LIVE?

Ventures/ Entrepreneurs may register on this website itself to apply online by sharing some basic details or you may download the form, send the filled up/ signed form by email (scanned copy) or by mail at the IIMK campus address.


How much seed capital can I get if I get selected in the Incubation Program at LIVE?

As of now, LIVE is in the process of developing its own funds and hence there is no seed capital promised by LIVE immediately. It has, however, access to various funding schemes by the Government of India specifically designed to support Start-ups. Start-ups would have access to the investor networks of LIVE.


What are the rentals for Office space for Incubatee firms?

Start-ups under Incubation Program would get the co-working space with high speed internet at highly subsidized rentals. It varies based on team size and type of facilities. You may write separately for more details.


Is there a meeting room/ conference facility available?

Yes


I have office space from which my startup is currently operatiing and I do not want to relocate to Kozhikode, can I still apply?

Yes, you may apply for VituaLIVE – virtual incubaton. Select the appropriate option while filling up the application form.


What is Virtual Incubation? What can I expect under this?

Virtual Incubaton, called virtuaLIVE, under LIVE’s buiness incubation program is designed to admit innovative, promising business ideas into the program without they being physically located at LIVE HIVE – the working space on IIMK campus. They are eligible to get mentorship support, access to professional services, entry to training and workshops and accss to funding opportunities.


What is the selection process? Will I get chance to present my business plan?

Shortlisted applicants would have to present the start-up idea and business plan to the selection committee at IIMK Campus in the first/ second week of march. Selection would be based on multiple criteria to evaluate business innovativeness, feasibility, strengths and market opportunity. The decision of the seleciton committee would be final. Selected startups would have to sign an agreement with LIVE.


Who would provide the mentorship?

Depending upon the type of Start-up and specific requirements understood during the selection process. Mentors (up to 2) may be assigned for consultation, coaching and connections. They would be from IIMK LIVE’s mentor network and would include IIMK faculty members, alumni, successful entrepreneurs, angel investors and others who can provide specific inputs to start-up enterprises.


Who should I contact for more information?

You may send an email to enquiry@iimklive.org


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