UIncept, an Indian Incubator and Accelerator, Launches Incubation Program for EdTech Startups

UIncept is an incubator and accelerator based in Gurugram, India. It is currently inviting applications for an Incubation program for edtech, e-learning, skill-tech, and other allied?startups in Idea and Early stages.

Any company or individual with an idea or an existing solution in the given fields with the potential to become a scalable business model can apply for this 11-month program.

Applications are accepted till 15the June 2019. In July the program will kickstart with 20 selected startups, in the UIncept’s Gurugram campus. This is the fourth edition of the program by UIncept.

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Overview of the 11-month incubation program by UIncept

Following is the overview of the program:

First Quarter: In the first quarter, the focus will be on developing a problem statement and carrying out opportunity analysis. Startups will be guided by UIncept’s experts and will get the opportunity to use progressive technologies to build their products and services.

Second Quarter: In this time period, startups will use Design thinking to create a Minimum Viable Product (MVP).

Third Quarter: This is a crucial segment when growth strategies for the chosen startups will be discussed. The companies will do planning for demand generation, customer acquisition, marketing strategies, forecasting demand, and pricing variables.

Fourth Quarter: In this time period, startups will understand valuable things about financial valuations, private and public financing, pitch techniques, exit strategies, investor sessions, and calculation of break-evens. The program will end with a final investor session, where startups can actually give a product demo and raise funds.

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Facilities startups will get at the incubation program

• Each chosen startup will get a starter perk kit of $10,000 for product development. This includes free credits offered by perk partners.
• The modules will be tailored as per the needs of each startup.
• Faculty of prominent B-schools like IIM, IIT, MICA, and NID will teach strategies to startups on how to implement projects.
• Startups will also get to network with UIncept’s alumni startups, associated schools, colleges & universities, mentors, industry experts, growth hackers, and more.
• Startups can use lab facilities like 3D Printers, AR/VR headsets, IoT kits, etc.
• Workstations, conference rooms, recreational space, and training rooms are available for startups during the period of the program.
• Startups will get assistance for accommodation through partner living spaces.
• The final demo day of the UIncept incubation program will give an opportunity to the startups to raise investment for their business.

UIncept Overview

UIncpet has supported 24 startups, till date. These startups together have raised more than INR 30 crores in investments.

Some of the edtech startups supported by UIncpet in the past are University Connection, Propelld, Nurtr, and Studyapt. These companies have secured further funding or have become self-sustainable profitable businesses.

UIncept was launched in 2015 and was earlier known as UDGAM. Manish Gupta, Chairman JIMS Group of Institutions is the founder of UIncept. This ‘incubator and accelerator’ works with a vision to support startups that can provide solutions to real issues faced by the education industry, at present.

UnIncept’s long-term vision is to ‘change the way we learn with the help of technology, and create #ABetterTomorrow.’

At present, India boasts about 3,651 ed-tech startups working on different types of tools like assessment, VR, gamification, language tools, and parent engagement.

The online education Industry in India is expected to grow eight-fold in the next five years, as per a report published by Google and KPMG (Online Education in India: 2021, A study by KPMG in India and Google). The edtech market is likely to reach $1.96 billion by 2021.

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