T-Hub, India’s fastest-growing startup engine, today announced that it is accepting applications for the second edition of its India Market Access Bridge (IMAB) program. IMAB is a nine-month program that provides international startups with tangible business opportunities, market understanding and access to clients in India, while also mentoring them to scale. It is a tailor-made program for post-series A startups and scaleups focused on B2B enterprise products and technology solutions for sustainability.
IMAB will extend support to the founders of international startups and their teams to work on their India strategy virtually as well as locally with structured sprints in India. Through a series of carefully curated engagements, startups will receive support in localizing and customizing their products and business models, based on the local needs and customer demands. T-Hub will also assist them in securing their first customer in India, which will enable them to adequately grow in the country.
a�?The IMAB program provides international entrepreneurs who have scaled successfully in their home countries, an opportunity to grow and navigate through the high potential Indian market. We will enable them with unique possibilities to establish and accelerate their growth in one of the largest global economies through our collaboration with investors and corporatesa�? said Jay Krishnan, CEO, T-Hub.
B2B enterprise products and technologies in sustainability verticals are IMABa��s focus this year. A�More than 50% of Indian VC investments are in B2B enterprise product startups for technologies like Artificial Intelligence (AI), Internet of Things (IoT), Blockchain, AR/VR, and Cyber Security. Another area witnessing tremendous growth in India is the renewable energy industry. Despite being a subtropical country, harnessing solar power is a challenge due to the steep expense of setting up power plants and the low market penetration of solar equipment. There is a need for startups in the country to scale up with affordable and proven solutions in sectors such as renewable energy & power, pollution, water & waste management.
Selected startups will receive the following key benefits from IMAB:
- A dedicated mentor and dedicated Entrepreneur-in-Residence (EiR), who will support the startups during their program tenure in India
- A localized business model providing insights on the A�prospective customer-base
- No equity obligations for startups, as is the case with all T-Hub programs
- Provision to find and execute a Proof-of-Concept with a local client and support in the process of moderation including defining the rules of engagement, timelines, and responsibilities
- Regular access to corporate partners, industry leaders, investors, government engagement, demo days, media activities, and networking events
- Support for Indian business culture familiarization for a soft landing to the market
The international startup applicants will need to meet the following eligibility criteria to enter this scaling program:
- Product/solution is market ready and is generating revenues in the home market or elsewhere
- Previous venture capital investment is secured
- Proven distribution model in home or other markets
- The venture is ready to enter the Indian market and spent time and resources to make the journey a success
- At least one of the founders needs to be present in India during the program, different interventions might require Product Manager, Sales and/or technical and operational specialist to attend the program virtually or physically
- At least one of the team members required during all in-country interventions
- Focus on either of the two sectors – B2B Enterprise Product or Sustainability. Outstanding solutions in other sectors – HeathTech, Fintech, Smart City and Mobility, can also apply
Following are the measures thatA�will decide the list of selected startupsA�by T-Huba��s leadership team:
- Existing traction and proven month-on-month growth
- Proven business model with a high factor of transferability to India
- Prior venture capital investment with a runway for India market entry
- Ambitious team committed to their India journey
- Readiness to engage in PoCs and partnerships
T-Hub has successfully concluded the IMAB program for 5 international startups in 2017 from countries like US, Netherlands, South Korea, Austria, and Canada. Unispotter and Zyleck Technologies shared feedback on their respective experiences from the first IMAB program.
Chris from Unispotter said, a�?India is the fastest-growing market where the corporate and startup communities have a huge opportunity to grow and scale up. IMAB has helped us to form our strategy for entering the Indian market and develop our partnership strategy, which helped us to reach out to startups in the same space as well as connect with the right target group.a�?