Furthering the vision of Prime Minister Narendra Modi’s Startup India Campaign, Manish Gupta, Founder of Jagan Institute of Management Studies (JIMS) launched his startup incubator, UDGAM last Wednesday at an event at the India Habitat Centre.
UDGAM envisages to support the entire concept enabling start-up culture to nurture, grow and sustain with aim at visibly contributing to nations economy. It looks to facilitate enthusiastic citizens with an entrepreneurial mind set to come with innovative ideas and support them to grow by providing them necessary support, financial as well technical. UDGAM provides to help start-up ideas shape into ventures right from ideas initiation, capital funding and providing direction to evolve product, networking, mentoring and creating infrastructure.
UDGAM’s launch event had been aptly named the ‘Weirdo’s Startup Meetup’ as the sole purpose of the event was to find weird ideas which can change the shape of the world. UDGAM wanted to find its first batch of incubatee startups through the event. Startups had been invited to pitch their ideas at the event. The selected startups were given an opportunity to be a part of UDGAM’s Incubation Program at Gurugram and Jaipur for six months, to be a part of an Entrepreneurship course of six weeks and also be provided financial support through seed funding.
UDGAM has been set up to nurture early stage organisations across sectors. Under the incubation program, UDGAM will provide startups with office space, assistance in marketing, networking, logistics, mentoring and recruitment and capital funding.
Talking about the launch, Manish Gupta, Founder, JIMS and UDGAM said, “ A lot of youngsters are coming up with brilliant ideas but what they lack is mentorship and the right direction. We aim to provide them a building platform from where they can take off and reach greater heights. The launch is also coming at a time when the startup funding is going slow. We don’t want great ideas to go in a rut just because there isn’t enough money in the market.”
“We plan to select startups from across verticals. The criteria for the selection remain market vision with a scalable ambition, a solid team committed to the project, creative ideas and capacity to grow.”
UDGAM aims to incubate startups that have a market vision with a scalable ambition, have a solid team committed to the project and creative ideas and capacity to grow. Any startup with a basic prototype can apply for the program.
In the span of next year UDGAM plans to nurture at least fifty early stage startups across Delhi and Jaipur and help them attain profitable models besides attracting talent and funding.