IIM Jammu offers grant support up to Rs 50 lakh to high-potential startups
On March 3, 2026, the Indian Institute of Management (IIM) Jammu hosted the DST iTBI Ignition Fest 2026, an event aimed at fostering innovation and entrepreneurship in India. This initiative is part of the Department of Science and Technology’s (DST) Technology Business Incubator (iTBI) program, which seeks to support high-potential startups with substantial funding and mentorship.
Overview of the DST iTBI Ignition Fest 2026
The Ignition Fest brought together aspiring entrepreneurs and innovators from across the country, providing them with a platform to showcase their research-driven and scalable ventures. The event featured a distinguished Governing Board composed of senior representatives from the Government of India, national research institutions, banking sectors, intellectual property experts, and industry bodies.
Grant Support Details
One of the highlights of the event was the announcement of the DST iTBI Ignition Grant, which offers grant support of up to Rs 50 lakh to selected startups. This funding is aimed at helping incubatees develop their business models and accelerate their growth.
Eligibility Criteria
To qualify for the grant, startups had to demonstrate:
- Technological Depth: The ventures needed to showcase innovative technologies that have the potential for significant impact.
- Commercialization Readiness: Startups were required to present a clear path to market for their products or services.
- Scalability Potential: The ability to grow and expand in the market was a critical factor in the evaluation process.
- Measurable Societal Impact: Startups had to illustrate how their innovations could positively affect society.
Evaluation Process
The evaluation of the startups was conducted through a rigorous multi-stage screening process. A total of 18 high-potential startups were shortlisted to pitch for the grant. Each startup was assessed based on several key parameters:
- Innovation Quotient: The uniqueness and creativity of the startup’s idea.
- Intellectual Property Strength: The robustness of the intellectual property associated with the venture.
- Market Validation: Evidence that there is a demand for the product or service.
- Financial Sustainability: The viability of the business model in terms of generating revenue.
- Scalability: The potential for growth in various markets.
- Alignment with National Development Priorities: How well the startup’s goals align with the broader objectives of national development.
Governing Board Composition
The evaluation was overseen by the DST iTBI IIM Jammu Governing Board, chaired by Prof. B. S. Sahay, the Director of IIM Jammu. The board included notable figures such as:
- Dr. Anil Wali, CEO of BITS BioCyTiH Foundation
- Dr. Muqbil Burhan, Principal Investigator & Chairperson of the Centre for Entrepreneurship Innovation & Skill Development at IIM Jammu
- Shardul Rao, Scientist at the Department of Science and Technology, Government of India
- Dr. Saurabh Saran, Principal Investigator at CSIR-Indian Institute of Integrative Medicine – IIIM Technology Business Incubator
- Dr. Reema Mediratta, Scientist at the Indian Council of Medical Research
- Nidhi Jamwal, Assistant General Manager & Cluster Head at Jammu & Kashmir Bank
- Rakesh Wazir, Chairman of PHD Chamber of Commerce and Industry (Jammu Region Chapter)
- Dr. Vivek Sharma, Chief Innovation Officer at IIM Jammu
Mentoring and Support
The Ignition Fest served not only as a competitive evaluation platform but also as a strategic mentoring forum. Founders received constructive feedback aimed at refining their business models and strengthening their market-entry strategies. This mentorship is crucial for startups looking to navigate the complexities of launching and scaling their businesses.
Conclusion
The DST iTBI Ignition Fest 2026 at IIM Jammu represents a significant step towards nurturing innovation and entrepreneurship in India. By offering substantial grant support and mentorship, IIM Jammu is playing a pivotal role in empowering high-potential startups to achieve their goals and contribute to the economy.
Note: The information provided in this article is based on the events and announcements made during the DST iTBI Ignition Fest 2026, and is intended for informational purposes only.
