Incubig, a startup based out of the Goa Institute of Management is in news for being one of the four Indian startups to get selected for South Korean government’s acceleration programme, reports Team B&C
Incubig, a startup based out of the Atal Incubation Centre of Goa Institute of Management (GIM), Sankhlim, is crossed a major milestone in operations. The startup became one of the four Indian startups selected by the South Korea government for a global startup accelerator programme and the K-Startup grand challenge.
The K-Startup grand challenge is an annual event held in Seoul. At the end of the acceleration programme in December 2019, the Korean government hosts a demo day to felicitate the top startups. The 1st prize receives US $100,000, 2nd prize US $40,000, 3rd prize US $20,000 and 4th prize US $6,000.
The other three startups from India who made it to the K-Satrtup challenge with Incubig are MicroX Labs, Ekport.com and Xenon Automotive.
Founded by Ankit Lehra and Mohammed Zaffer, Incubig aims to solve the menace of patent infringement which is the biggest threat to innovation. By participating in the acceleration programme of the south Korean government, Incubig gets access to a grant of up to US $100,000, free office space, one-on-one mentoring, expert support, state-of-the-art R&D labs and the opportunity to work in a global startup campus.
On the way to Seoul, Ankit Lehra, founder, Incubig, said that, it feels really great to be recognized by a country, which is highly research-oriented. “We started Incubig with a mission to accelerate innovation on a global scale. Patent and research analytics play a key role in guiding and accelerating innovation. We are just making sure that this highly valuable analytics is accessible to individuals and organizations for making informed research and business decisions, at the right time. South Korea is one of the largest sources of patents applications. The next few weeks are focused on collaborations with leading corporations and universities, along with mentorship programs on specific areas of business.”
Elated with the honour to GIM, Apoorv Sharma, chief operating officer, said, “Incubig founded by the extremely innovative and talented duo Ankit Lehra and Mohammed Zaffer are involved in creating customised IP profiles of individual innovators and startups to provide 360-degree patent analytics relevant to their product and technology. Their unique analysis algorithms, patent-pending AI engine and result enhancement mechanisms enable them to deliver results of the highest quality, in a short time and at an affordable cost.”
Added Prof. Ajit Parulekar, director, GIM, “We are delighted that Incubig one of the many startups being nurtured at our centre have been selected to be among the four best Indian startups shortlisted to showcase their innovative concept in Korea. The incubation center at GIM will continue to serve as an active knowledge and resource catalyst for the development of promising entrepreneurs and will aid in accelerating the growth of early stage organizations from ideation to marketplace success.”
One of the premier B-Schools of India, GIM was selected by the National Institution for Transforming India (NITI) Aayog, for setting up an Atal Incubation Centre (AIC) under the Atal Innovation Mission (AIM) scheme. The AIC at the institute has world class incubation facilities at its campus in Sankhlim.
NITI Aayog’s AIM scheme including self-employment and talent utilization (SETU) is one of the flagship programs of the government to promote a culture of innovation and entrepreneurship. AIC at GIM provides pre-incubation facilities, common infrastructure and services such as technology development assistance, networking and mentoring, funding access, training and development, business support services (entrepreneurship development, marketing, finance and accounting, research, legal, regulatory, etc.) to innovators and startup entrepreneurs for developing solutions.
Started in 1993 by Fr. Romuald D’Souza, GIM is ranked among the top 10 private B-schools in India and among the top 20 business schools in the country. The institute offers a number of programs for the business needs of industry and is widely recognized for placing Goa on the forefront in education.