Chalgenius recently had an opportunity to have a candid chat with Vijay Vir Singh, the vice president of Amity Innovation Incubator to get an insight about its role in developing start-up ecosystem. Here are the excerpts of the interview
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Please tell us something about yourself?
I am an accomplished business professional with 16 plus years of experience in handling key positions & responsibilities across sales operations, product business consulting & strategy for large Indian/MNC’s building products for India & emerging market. For last 6 plus years, closely contributing to start-up ecosystem.
Please tell also something about your association with Amity Innovation Incubator?
In my present association as Vice President with Amity Innovation Incubation, I along with my team had been tasked for building Amity Innovation Incubator as the world class incubator across all major cities of India. We at present have 7 physical incubation facilities in India (Gurugram, Gwalior, Lucknow, Jaipur, Mumbai, Noida& Raipur) and few abroad (Dubai, US, Tashkent, Singapore) and plan to expand to 17 locations in India by end of 2021.Start-up associated with us get privilege to work from any of our physical locations.
How Amity Innovation Incubator is helping in the growth of start-ups?
We have created a robust ecosystem for start-ups at Amity Innovation Incubator.
Some of the major perks for start-ups to get incubated at Amity Innovation Incubator are as follows:
• Infrastructure support in multiple locations in India & Abroad
• Networking and Culture
• Access to Industry Experts/Mentors
• Links to Angel Networks and VC’s and direct access to Amity Capital Venture
• Round the year Accelerator/Incubation program
• Access to partner credits
What are the complete activities of Amity Innovation Incubator?
To support and promote entrepreneurship culture, Amity Innovation Incubator had a very well-defined calendar for start-up activities throughout the year.
Some of the activities that we had conducted in last few monthsare listed below:
• Online/virtual Webinar: More than 8 webinars are conducted every month
• Offline Sessions/Workshops/Events
• Dedicated Mentor Hours with every start-up
• Demo/Investors Day
• Her Start-up initiative (Dedicated Women Accelerator Program)
• Single use plastic incubation
• COVID Accelerator
• Student app lab initiative
How many start-ups have been incubated and how many have got funding?
Amity Innovation Incubator was established in the year 2007 under the aegis of Dr.Aseem K Chauhan (Chancellor, Amity University & President Amity Innovation Incubator) with a vision to support start-up ecosystem and contribute to the GDP growth in India. We are supported by Department of Science & Technology (DST), Atal Innovation Mission (AIM) & Ministry of Electronics and Information Technology (MeitY).
Over a decade, we have supported more than 300 plus start-ups from idea to growth stages. We have facilitated funding for more than 100 but our portfolio of investments to Amity Capital Ventures and Amity Innovation Incubator stands 55 plus. We also are privilege to have a huge network of investors who are supporting our start-ups.
How it is different from other incubators?
Amity Innovation Incubator is the very comprehensive incubator present in India with a world class 48000 Sqft of dedicated physical incubation space at its Headquarter in Noida.
We have our own investment vehicle (Amity Capital Ventures), mentors (more than 100 plus industry & start-up experts associated through our mentorworld.org platform), apart from having our in house dedicated IPR Cell.
What differentiate us from other incubators is the team behind the success of Amity Innovation Incubator. Our team is a combination of many Industry experts with diverse expertise in investment banking and handling start-up ecosystem.
Read this https://www.chalgenius.com/meet-a-couple-from-kolkata-who-are-on-a-mission-to-build-a-healthy-society-through-organic-food-products/
Do you think that job losses in Covid have opened fresh opportunities for people who wanted to start something of their own?
Yes, COVID has opened fresh opportunities for people. If we dig deep, we would observe the that Government bodies like DST, MeitY, AIM, Startup India have launched several start-ups related grand challenges and support programs. Even private players like NASSCOM, CIIE etc have launched several key programs for emerging start-ups. Academic incubators have started many promising and virtual programs for start-ups and several EDP have begun.
COVID has opened a fresh area of opportunity in the area of healthcare and hygiene. Several new start-ups have emerged focussing on mask creation, PPE Kits, Sanitizers, UV disinfectants and so on. Due to the availability of large talented pool in the country which got unemployed due to the pandemic, has started either focussing on creating their own venture or have started exploring fresh opportunities in the existing and well-established start-ups.
Read this https://www.chalgenius.com/this-startup-from-kolkata-holds-the-success-key-for-global-researchers-academicians/
Are you getting increased queries on start-ups now?
We are here to support start-ups and that’s our prime responsibility too. On an average we get 300 plus application every month. We select few and the start-ups that don’t get selected through our selection criteria, we make sure we guide them on some next course so that they can come back to us with those corrections &data points.
What is your advice for budding entrepreneurs?
What I think is the necessity above all for a budding entrepreneur is immense self-belief. You may create gaffes and blunders but never fall in the trap of losing self-reliance & self-esteem.
People spend too much time ruminating on ideas and miss the opportunity to execute in time. Speed is important if you are trying to pioneer a brilliant idea. Execute the idea and then work on perfecting it, or else you may lose out to someone who acts upon it faster than you. Ultimately, ideas belong not to those to think it first, but to those who act upon it first. So, execute.
Keywords: Chalgenius, Amity Innovation Incubation, Start-ups, entrepreneurs.
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