Incubation - Frequently Asked Questions

Listed below are questions about…

1. The process of applying for incubation
2. The support L-RAMP can provide you
3. How L-RAMP assess the impact of incubations

The Application Process

Who can apply for incubation?

We accept applications from all innovators (including individuals like students, teachers, farmers, artisans, housewives and also enterprises) that have no access or limited access to funds, technological support and markets.

How do I apply?

You can download the application form here
Fill it in and post it to us at:
Lemelson Recognition and Mentoring Programme (L-RAMP)
2nd Floor, IC&SR
Indian Institute of Technology, Madras
Chennai – 600 036
Tamil Nadu
India
Tel: 91-44-2257 8389 

How are applications evaluated?

Evaluation criteria include:
- Innovativeness/originality of the idea
- Technical and economic feasibility
- Potential social impact
- Potential for commercialization
Proposals are selected based on the decision of the L-RAMP Steering Committee and Advisory Board. 

How much time does L-RAMP take to process an application?

Once you apply, you can expect an initial response from us within 2 weeks. The complete process of screening and selection takes 3 months.

Is there any last date for the submission of the application?

No. The application is accepted throughout the year.

Do I have to pay an application fee along with my application?

No.

What happens after I submit my application?

You will first be called to make a detailed presentation of your idea to one of our representatives. The technical strength of your innovation will be assessed, following which a report will be made to our Steering Committee. The committee will then reach a final decision regarding the provision of support for your innovation.

Support from L-RAMP

Does L-RAMP support all innovations?

We primarily support innovations which fall under one of the following four categories:
1. Agriculture
2. Dairy
3. Energy
4. Water
However, we are also open to exceptional ideas in other sectors, or those based on business models.

What kind of support does L-RAMP provide?

We provide funds, mentoring and access to our network of contacts. Mentoring includes technical mentoring support for product/service development and business mentoring support for selling your product/service. 

What type of funding support does L-RAMP provide?

We provide interest-free loans. 

What is the upper limit on the funding support provided by L-RAMP?

We provide funds up to Rs.25,00,000 (25 lakhs). 

How do I pay back the loans I take from L-RAMP?

When your innovation is commercialized, L-RAMP collects 5% of the sale value or 25% of the technology transfer earned until the entire loan amount is recouped. 

At what point will L-RAMP withdraw its support?

Our goal is to see innovators’ ideas come to life. Once the product/service is able to generate enough revenue to sustain itself, our support is no longer required. 

Are there circumstances under which L-RAMP will withdraw its support before the incubation process is complete?

Yes. If an innovator fails to reach expectations, exhibits a lack of transparency, indulges in unethical practices, or fails to repay loans as per the schedule, we will be forced to withdraw our support. 

What is the process for this premature withdrawal?

Before the decision is made, Advisory Board approval is needed. Two weeks notice will be provided to the innovator, and the reason for the withdrawal will be documented, along with the preparedness of both innovator and L-RAMP for project closure. Finally, an exit interview will be organized which will be attended by the L-RAMP team as well as the team of the innovator(s) and entrepreneur(s) 

Is there a role for me with L-RAMP even after I succeed with my product/service?

Yes. You can help us scout for new innovators, mentor them and track the progress of innovations. You can also take part in training programs, exhibitions and seminars, and become a brand ambassador for us!

Assessing The Impact Of Incubations

How does L-RAMP assess the impact of its incubations?

We consider four broad categories of impacts:

1. Social: Equity in access to innovations selected under the project. Equity may be measured with respect to gender and social classes, or an improvement in the standard of living (women in particular).
2. Market and Economic Status: Employment generation, income effects, cost of products and cost-effectiveness, changes in market structure (for example, building and sustaining local markets and reducing dependence on external markets)
3. Environmental and Health: Reduction in pollution level (noise, soil, water, air), enhancing quality of life (for example, reduction in drudgery, access to sanitation, access to basic infrastructure), occupational safety.
4. Cultural: Impact on work culture, and life-style of people.