The Quantum Insider: Accelerating Quantum Innovation in India
Attention all Indian Quantum Startups!
Are you a startup in the quantum technology space looking to take your innovation to the next level? Look no further! The I-HUB Quantum Technology Foundation (I-HUB QTF) at IISER Pune is inviting Indian startups to apply for their cutting-edge incubation program. With a deadline of August 31, 2024, this opportunity is not to be missed!
Selected startups will receive a wide range of benefits including infrastructure, mentoring from industry experts, and invaluable industry connections, all aimed at accelerating their growth and success in the quantum technology ecosystem.
The goal of this initiative is clear – to position India as a global leader in quantum technology by fostering innovation and commercialization in this rapidly evolving field.
India’s Department of Science and Technology (DST) has launched a call for proposals specifically targeting startups specializing in quantum technology. Through this program, DST aims to onboard innovative companies into the I-HUB QTF at IISER Pune, aligning with the National Quantum Mission (NQM).
Focus on Quantum Innovation
I-HUB QTF, a Technology Innovation Hub (TIH) dedicated to quantum technology, is actively seeking startups in quantum computing, quantum communication, quantum sensing and metrology, and quantum materials and devices to join their physical or virtual incubation program. This initiative, a part of the National Mission on Interdisciplinary Cyber Physical Systems (NM-ICPS), offers crucial resources like co-working space, infrastructure support, mentorship from quantum experts, and connections to industry players.
The ultimate goal is to seed, nurture, and scale up research and development in quantum technology, thus fostering a vibrant and thriving startup ecosystem in India.
Eligibility and Application Process
Startups must be registered with the Department for Promotion of Industry and Internal Trade (DPIIT) or commit to registration before receiving any funds. Indian ownership of at least 51% and Indian-held intellectual property are key criteria for eligibility. Additionally, startups must demonstrate a viable business model with potential for market fit and scalability.
Applications must be submitted by August 31, 2024, along with a signed Non-Disclosure Agreement. The selection process involves pre-screening for eligibility followed by detailed evaluation by the Investment Evaluation & Monitoring Committee (IEMC).
Support and Selection Criteria
Selected startups will receive an extensive support package, including access to state-of-the-art facilities, mentorship, and connections to industry and investors. The evaluation criteria include market need, technical feasibility, potential impact, novelty, team strength, and fund utilization plan.
Shortlisted startups will undergo further interactions with IEMC members and domain experts, culminating in equity-sharing discussions with I-HUB QTF. The entire process from application to fund disbursal may take up to three months.
Accelerating Quantum Innovation in India
This initiative is a significant step towards establishing India as a leader in quantum technology. By supporting promising startups, I-HUB QTF aims to drive innovation and commercialization in a field with broad implications for industries like cybersecurity, materials science, and communication networks.
As the quantum technology sector evolves rapidly, initiatives like this are crucial to ensuring that Indian startups are well-positioned to seize emerging opportunities.
For more information and to apply, visit the I-HUB QTF website or contact the program directly via email at [email protected].