Successful incubation demands action on a number of fronts. To address the various needs of an innovation that is under incubation, L-RAMP offers two critical sets of services – Funding and Mentoring.

FUNDING
L-RAMP provides two kinds of funding – funding for proposal development and funding for incubation or project support (incubation) funding

Proposal development Fund
At this stage in an innovation’s life, a great deal of due diligence is required. The innovator and other stakeholders need to be sure what the idea is all about, what stage the idea is in, what potential the idea has and how to move forward with the innovation. Typically, grassroots innovators and student innovators have a good idea but require support to articulate it better and make a cogent proposal for incubation.

L-RAMP supports this need through Proposal Development Funding. Examples of where the fund could be used include making of designs and prototypes, conducting baseline market studies, or carrying out technology validation.

L-RAMP provides a maximum of Rs. 25,000/- for this activity and administers the proposal development fund as a grant.

Project Support
After standard due diligence procedures have been completed by L-RAMP for an innovation seeking incubation support, the innovation has to be approved for incubation by L-RAMP's Advisory Board.

Once the Advisory Board approves an application for incubation, the innovation qualifies for project support (incubation) funds based on a clear milestone-driven incubation plan. The level of project support funding can be up to Rs. 25,00,000/- and is provided as an interest-free loan, repayable when the enterprise has been established and is running successfully. Money that comes back to L-RAMP in this manner is again ploughed back in to support other innovators.

Incubation Services
Funding is only one-half of the incubation story. Successful incubation calls for a whole lot of support in other areas.

During incubation, L-RAMP offers a range of technical and business incubation services, directly or through a well-developed partner network. Among other things, technical incubation services include the following:

• Conceptualizing the idea

• Design inputs – arrange consultation with experts in designing

• Prototyping – identify the facility and manage prototyping

• Lab testing – identify test centres and arrange testing

• Field trials – identify suitable location and arrange trials

Business incubation support typically includes the following services

• Protecting the intellectual property rights of the innovator

• Conducting preliminary market studies

• Planning pilot marketing

• Identifying partners for marketing

• Providing access to a network of mentors

• Facilitating technology transfer to enterprises