Each Startup is given a basic program structure along with an agreed upon milestone to be achieved. The milestone varies for each Startup and is specific to their current state. In the period of 3 months, they are required to finalise the business plan, understand the cash flow for the next 5 years, have a visibility of funds and support required for Go-to-Market, making the venture Investor-Ready, making monthly milestones and then designing a customised program. At the end of the period, a panel evaluates the batch and selects those that achieve the milestones agreed. The Startups who perform well are selected for the next stage.
Startups who are not selected remain in the Incubator and get one more chance to clear the Stage 1 after 3 months along with other Startups. Startups who cannot move to the next stage even after 6 months will make way for new Startups.
An intense Incubation Course is designed for each of these Startups in which a dedicated Mentor from the Ambuja Neotia Businesses is assigned to the Startups so that the product gets suitably developed and validated. The chosen Startups get funding against equity which is at Fair Market Evaluation. The teams will collaboratively work for the target milestones that are mutually agreed upon. It is expected that at the end of this Stage the Startups will have a product which is tested and vetted by Ambuja and can now take the product to other customers with our validation and support. Networking sessions with Corporates, Investors, Mentors, and Experts will be arranged regularly. A Pre-Series Round is likely to happen at the end of the Incubation Program.