CM Bhagwant Mann Launches IMPunjab’s Accelerator Mission
The Accelerator will also provide startups with INR 3 lakhs as experimental capital to validate business models. Located in Kalkat Bhavan, the accelerator is a vibrant, state-of-the-art hub with 12,000 sqft. of contemporary workspace and offers a 400-seater Auditorium, a 2-level networking area, activity zones and meeting rooms
Honorable Chief Minister of Punjab, S Bhagwant Mann inaugurated the IMPunjab’s Accelerator at Kalkat Bhavan, Mohali, Punjab. Innovation Mission Punjab (IM Punjab) is a unique private-public partnership that aims to build, empower and act as a catalyst for startup communities in Punjab, with a vision of making it among the top states for startup hubs in India.
The Accelerator is providing structured and strong mentor support, piloting opportunities, capacity-building programs, catalytic capital, investor interaction, and business services to support early-stage startups build a strong foundation and scaling. The Accelerator will also provide startups with INR 3 lakhs as experimental capital to validate business models. Located in Kalkat Bhavan, the accelerator is a vibrant, state-of-the-art hub with 12,000 sqft. of contemporary workspace and offers a 400-seater Auditorium, a 2-level networking area, activity zones and meeting rooms.
Inaugurating the Accelerator, Hon’ble Chief Minister S. Bhagwant Mann, said, “Punjab has a unique culture of entrepreneurship; with major startups of the country founded by Punjabi entrepreneurs. We need to provide the right support to our people to help them build their startups. World-class facilities like IMPunjab Accelerator and leveraging the strengths of Punjab we will be able to create jobs and bring investments and create economic development and positive social change in the state.''
The Mission has onboarded more than 500 startups with its ongoing initiatives like StartupDay, Enabling Drives and Monthly Innovation Challenges and is supporting entrepreneurs and early-stage startups across the state. With the launch of physical space, the Mission is also commencing its first accelerator program to provide deep support to the top 16 startups of Punjab and make them investment ready.
The startups selected in our first cohort hail from various hubs in Punjab including Mohali, Ludhiana, Jalandhar, Amritsar, Bathinda, etc. and have a varied sectorial representation from Healthcare, Edtech, Agritech, CleanTech, FinTech and logistics and many other areas. The Hon'ble CM graced the occasion by interacting with emerging startups during the Accelerator walkthrough such as AddVeda (a chemical-free ayurvedic brand solutions for healthy living), Countryside Express (a logistics company ensuring last-mile delivery to rural parts of the country), Scratchnest (B2B solution to drive end to end visibility of products), Terafac Technologies (plug and play tabletop factory to provide exposure to real industries), among other notable startups.
Talking about the uniqueness of the Mission, Pramod Bhasin, Chairman, IMPunjab said, “We are working to build a vibrant and thriving ecosystem for startups in the entrepreneurial state. The Mission, with its networks, both physical and virtual accelerators, is bringing world-class mentors and global investors to provide all the support startups need to scale. We have already started supporting the startups and approximately 30% of these startups are led by women. We also want to thank Startup Punjab and Govt. of Punjab for supporting us.’’
The Chief Minister also awarded prize money to the winners of Punjab’s ideathon ROAR and also interacted with startups showcasing at the event from various towns and cities of Punjab.