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Incubation: How It Works

L-RAMP’s involvement with your idea starts with an initial process of screening and selection which takes 3 months. This is followed by the actual process of incubation, which usually lasts for two to three years. The various steps in the process are:

An innovator presents his idea during Rapid ScreeningAn innovator presents his idea during Rapid Screening1. Screening

  • Rapid Screening Session: Once you have sent in your application, you will need to go through a round of preliminary screening. Here you will get a chance to present your innovation, the problem for which it was developed, its market potential and its user groups. An L-RAMP Project Officer will make an assessment of your idea, based on the screening.   
  • Evaluation: A report of the preliminary screening session will then be placed before our Steering Committee, which decides whether the idea is ready to proceed further. Even if your idea is not yet ready to proceed, it may be moved to a ‘pre-incubation’ stage, where capacity building will take place.
  • Detailed Screening: Ideas that reach the detailed screening are evaluated by various stakeholders, who include users, manufacturers of existing solutions, dealers, subject matter experts and marketers. This process may take up to a month.

2. Planning for incubation

  • Preparation of an Incubation Plan: Once your idea has passed this detailed screening, you will prepare an incubation plan, with the help of a Project Officer. L-RAMP often conducts a workshop to facilitate this process.
  • Meeting with an expert: You will then meet with the Steering Committee and a relevant expert. This is your chance to explain the type of support you will require. The expert will provide his/her view as well.
  • Funding: Projects with an investment limit of INR 2 lakhs need only the approval of the L-RAMP Steering Committee. Projects needing higher incubation funding are approved by the L-RAMP Advisory Board.
  • Signing an MoU: You will then sign a Memorandum of Understanding with project coordinators from IIT Madras and RIN (Rural Innovations Network) – the organisations collaborating on L-RAMP. Your incubation plan will be attached to this MoU.

3. Incubation (Average time period: 2-3 years) 

  • Savings Account: Your first step will be to open a savings account. All necessary incubation funds will be transferred to this account.
  • Project officer: Based on your incubation plan, you will begin work on your project. A Project Officer will be assigned to you, and he/she will assess your requirements and provide the necessary support in terms of networking and expertise.

4. Reviews

  • Progress report: Your Project Officer will visit the site of your project every month and make an assessment of your progress. This report may include photographs, drawings, and interviews.
  • Review: The decision to go ahead with the project will be made by the Chief Project Officer and the Steering Committee, based on the progress report.
  • Accounts: Once you have reached a particular milestone, or used the available funds, you will need to submit a report of your work, as well as an account of your spending. Only after this has been examined will the next installment of funds be released.
  • Conclusion: When all the activities in the incubation plan have been completed, your project is considered complete, and will be reviewed by the Steering committee and the Chief Project Officer. If there is potential for more work to be done, you will be able to submit a proposal to continue your idea-to-market journey.