IIM-K Launches New Fellowship Programme to Promote Innovation Based Entrepreneurship

Indian Institute of Management, Kozhikode’s (IIM-K) Laboratory for Innovation, Venturing and Entrepreneurship (LIVE) has launched a novel fellowship programme to promote innovation-led entrepreneurship.

As per the statement released by IIM Kozhikode, the fellowship programme — LIVE Innovation Fellowship for Entrepreneurship (LIFE) has been specially made for the first-generation innovative entrepreneurs who are dedicated to exploring and innovative idea that has the potential to evolve into a product that solves a real problem.

One of the key features of the LIFE programme is that it grants fellowship awards with a monthly stipend to aspiring entrepreneurs who possess the potential for developing technology or business model innovation into a business venture.

Further, the institution also offers pre-incubation support at IIM-K’s Entrepreneurship Development Center.

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LIFE Programme Important Highlights

As per the institution, the LIFE programme award recipient will be eligible for a grant in the form of monthly stipend which will be limited to Rs 30, 000 per month with a minimum level of Rs 10, 000 per month for a time duration of one year.

Additionally, the recipient will also get the pre-incubation support that will include subsidised co-working space, professional services support, and guidance to establish or implementing ideas and turn innovative breakthroughs into a business venture.

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IIM Kozhikode Faculty Remarks on LIFE Programme 

IIMK, Director, Prof. Debashis Chatterjee stated that the LIFE fellowship awards had been conceptualised to encourage passionate innovators who wish to convert their innovations into viable products or commercial offerings.

While Prof. Keyoor Purani, Executive Director, IIM-K LIVE told that the year-long fellowship programme would also have dedicated awards for start-up entrepreneurs from SC and ST communities to promote social inclusion under the LIFE programme. 

“If the awardees are able to start a new venture with a proof-of-concept or a Minimum Viable Product (MVP), they will also be considered for the prestigious Business Incubation Programme (BIP) for incubation of their start-ups at IIM-K LIVE,” he further added.

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About LIFE Programme

IIM-K LIVE offers a special offering called LIFE under the NIDHI-EIR programme of the Department of Science and Technology, Government of India.

The applications for the award of LIFE Fellowship programme are now open at www.IIM-Klive.org. Applicants interested can apply for this fellowship award by November 15.

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