The UT Administration of Chandigarh was looking to institutionalize the startup spirit in the region and foster innovation led growth. The client envisioned the establishment of an Innovation and Entrepreneurship Centre as means to support research led innovation, growth stage startups and technology led Farmer Producer Organizations.
The client required scoping and plan development for creation of a start-up ecosystem within the Union territory through establishment of an Innovation and Entrepreneurship Centre in Chandigarh. The scope involved:
- Overall Concept Development
- Creation of Value Proposition
- Start-up Ecosystem Design
- Operating Model Development
- Designing of Organizational Structure
- Financial Plan Design including identification of potential revenue streams, cost structure and total investment requirement
- Review of State specific Start-up policies
- Creation of the First year Action plan
- Development of concept and value proposition through evaluation of the entrepreneurship ecosystem in the region, analysis of state specific start-up policies and review of seven similar initiatives in the country.
- Designed the start-up ecosystem through creation of an investor cum mentor network ingrained within the ecosystem to facilitate financial independence and ensure sustainability of the proposed initiative
- Designed the organizational and external support structure encompassing the
reporting structure design, role and responsibility design, and determination of the terms of reference and KPIs.
- Modeled a financial budget through identification of potential revenue and cost streams and determined the investment requirement
- Designed the Operating Model involving:
- Roadmap suggesting a tenable launch and execution plan
- Selection criteria for ideas/startups
- Program and support to be offered to the incubated/accelerated cohort
- Strategy and Implementation Plan
- Detailed Project Report
- Business Plan and Financial Model
- Concept Discussion and Alignment with 100+ stakeholders in Government, Industry, and Academia including NITI Aayog, NABARD and the office of PSA among others.
- Our deliverable enabled the client in kicking off the initiative through establishment of a section 8 company.