Scheme for Accelerating Startups Around Post COVID Technology Opportunities

Inviting Digital Tech Startups driving Industrial Digital Transformation to apply for SASACT

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Call For Digital Tech Startups driving Industrial Digital Transformation

Forge is catalysing national-scale Industrial Digital Transformation by enabling Industry to collaborate with Digital Tech Startups driving Industrial Digital Transformation to partner with Industrial Companies in strategic innovation and investment initiatives such as joint technology and product development, commercial partnerships, equity investments, and strategic acquisitions.

We invite Digital Tech Startups driving Industrial Digital Transformation with validated end user products aimed at responding to the post COVID Digital era to apply for SASACT (Scheme for Accelerating Startups Around Post COVID Technology Opportunities) launched by MeitY in partnership with STPI.

FORGE ADVANTAGE

Grants & Funds

Product Acceleration, Market Development & Venture Scaling Grant of upto INR 40 Lakhs

Value Added Services

Value-added services and resources worth INR 20L min.

Co-Creation Opportunities

Co-creation opportunities with Buyer/Anchor Companies leading to paid pilots

Prototyping Labs

Access to industrial-grade prototyping lab and pilot production facilities

Expert Mentorship

Access to industrial-grade prototyping lab and pilot production facilities

Co-Working Facilities

Access to co-working facilities & business support services

Collaborate with Partner Companies

Access to capacity and resources of Partner companies in scaling up commercial production, System Integration, market/business development, channels for distribution, sales, lifecycle support etc.

MBA Admission

Optional admission to Anna University affiliated,AICTE approved MBA in Innovation, Entrepreneurship & Venture Development

Venture Incubation Approach

In light of the ongoing crisis, Forge as a partner incubator aims to nurture impactful Digital Tech Startups driving Industrial Digital Transformationto become full-fledged ventures capable of responding to the post COVID Digital era.

To achieve this vision of MeiTY GOI, the startups selected for SASACT after a rigorous process of evaluation to assess their overall abilities, core competencies and execution capacity to translate their potential to outcomes in the form of market-ready solutions are managed with a Product Management approach, and not Project or Financial Management approach.

The definition of milestones in terms of specific goals and deliverables to be achieved by the startup as part of the program is influenced primarily by helping the startup to achieve Product-Market Fit on an accelerated trajectory to transform into a high-growth company.

In essence the program will focus on helping Startup with:

  • Achieving Product-Market Fit - A standardised solution (near 100% common factor) backed by evidence of repeatability in revenue generation and emerging as the leader in key customer segments.
  • Gaining Sustainable Competitive Advantages - Advantages over competitors that will be hard to match, duplicate or beat in creating, delivering and capturing value arising from capabilities, resources, and partners in technology, product, and commercial operations.
  • Distinctive Value-Cost Advantage - Creating a substantially high technical/operating value leading to business/financial impact with low TCO over product lifecycle, plus a competitive edge in pricing and revenue model over your competitors.
  • Rapid iterations to continuously test and calibrate the product designs etc.

Forge shall continuously offer value-added interventions as part of the SASACT program to the selected startups aimed at actively managing and mitigating risks to help them emerge as a winning technology/product in the industrial market and a high-growth industrial technology company.

WHO CAN APPLY ?

Eligibility Criteria for Applicant :

  1. The applicant should have a working technical prototype which is being proposed to reposition in light of the changing business paradigm of post-COVID-19.

  2. The Grant scheme does not envisage supporting Ideation stage startups.

  3. Startups (in the Scaling Stage) that have already tested their prototypes (hardware/software innovation) with any user agency through deployments and trials.

  4. Start-ups recognized under the Start-up India programme and having an operation in the Industrial Technology domain.

  5. Startups who’s innovations score higher than 50 in the Forge Industrial Innovation Rubric, backed with substantial evidence for the scores.

APPLY NOW

Apply on or before 20th September 2020. We evaluate applications as we receive them on a rolling basis!

APPLY NOW

Forge Industrial Innovation & Ventures Rubric

The Forge Industrial Innovation and Venture Rubric is a diagnostic tool to guide startup founders and innovators, by taking them through a rigorous process of evaluating the inherent risks and the opportunities related to technology, product, commercial viability, market readiness of their product innovations.

Download your Copy | Watch the Instructor Video

WHY FORGE?

Driving Industrial Digital Transformation initiative as a pan-national program in India, by enabling Industry to partner with Innovators (Individuals, Teams & Startups) in strategic innovation and investment initiatives such as joint technology and product development, commercial partnerships, equity investments, and strategic acquisitions through Open Industrial Innovation, an unconventional approach.

100+

Startups Incubated

200+

Product Innovations

10Cr+

Investments Won

50k+ sq.ft

Innovations & Ventures Hub

Product Innovations

To date, we have supported Industry Partners to engage with Innovators to create 47 deployment-ready industrial product innovations ready for trials and validation. We have 150+ startups in our national network involved in developing breakthrough technologies and innovative products covering AI, IoT, edge computing, robotics, power electronics, visual intelligence, 3D additive manufacturing, advanced materials, AR/VR etc.



Partner Incubator

Forge has been recognized as the Partner Incubator for Innovations for Defence Excellence (iDEX) by Minisrty of Defence. As the Strategic Incubation Partner for Corporate Open Innovation programs, Forge has engaged with Bosch for its Accelerator program, managed the execution of the Schneider Innovation Grand Challenge and is in the process of implementing a similar innovation challenge for Astra Zeneca.



SIPCOT Industrial Innovation Centres at Chennai & Hosur

More significantly, Forge has been nominated as the Partner Incubator by SIPCOT, a Govt. of Tamil Nadu undertaking under the aegis of the Industries Department, for the establishment of Industrial Innovation Centres in each of the SIPCOT Industrial SEZs. The initiative is aimed at unlocking the massive potential for socio-economic growth by combining TN’s strengths in manufacturing excellence with technology leadership attained through catalyzing innovation, venture capital and entrepreneurship among its highly talented youth. To begin with, two SIPCOT Industrial Innovation Centre (SIICs) are being set up in the top manufacturing clusters in Tamil Nadu - Chennai and Hosur, and these Deep-Tech Incubators are expected to be fully operational by January 2021.



Contact

Our Address

FORGE.FACTORY, G Floor, KCT Tech Park, #3 Athipalayam Road,
Chinnavedampatti, Coimbatore, Tamil Nadu 641049

Email Us

program@forgeforward.in

Call Us

+91-7397798907