History of RTBI
IITMS Rural Technology and Business Incubator (RTBI), a Society Registered under the Tamilnadu Societies Registration Act, 1975 is set up to design, pilot and incubate scalable business ventures with a rural / social inclusive focus.
Significantly it provides leadership, funding, and an incubation eco-system suitable to entrepreneurs at any phase in their venture, including at the very early concept stage as well as linkages and mentorship.
Our Facilities & Services
The institution provides access to the academic library and other on-campus facilities and the Industrial Consultancy Division of the Institute as well as the professional expertise and other business and technical resources of senior faculty members at IITM as an in-kind contribution.
Advice and Mentoring
WHO CAN APPLY?
RTBI is not an IIT Alumni-only Incubator, and is open to all qualified candidates. Candidates with a keen entrepreneurial spirit who are interested in technological innovations and applications are encouraged to apply online or walk-in. We specifically look for candidates with a:
Around 5-7 meritorious ideas and entrepreneurs aligned to the goals of RTBI are usually selected every year.
The entry of applications for incubation support at RTBI is majorly through online web applications received through our website, Walk-ins & Referrals through our network. After receipt in our online database, incubation applications are vetted by core team, if found fit as per RTBI selection criteria, goes through the following stages of review (shown as below), then presented to the incubation committee for final decision and approval.Post the committee approval a formal incubation agreement is executed.
The RTBI Core Team meets with the candidate, and provides an overview as to the focus of RTBI and how the candidate could potentially fit in. The candidate then meets with current incubatees with RTBI to gain a better understanding of the environment. After an initial screening of the potential candidate by the Admin Council, the Chairman conducts a face-to-face interview. The Incubation Committee of RTBI is involved in the finalization process of selection of these candidates for incubation. The decision is based on the strength of the business plan and face-to-face interactions with the candidate regarding commitment and alignment to RTBI’s rural development initiatives. Finally, the Incubatee-Incubator relationship is formalized in the form of an MOU.
A startup at RTBI goes through 3 phases, once inducted: the Exploratory Phase, the Venture-in-the-Making Phase and the Startup Phase. In all the three phases of incubation, it is the leadership at RTBI that supports individual entrepreneurs to not only explore their innovations but also prove the commercial viability of their product or service. The average time since the first contact to induction of an entrepreneur (on meeting all the requirements) ranges from a month to two months. The total incubation period for an entrepreneur is typically 18-24 months.
Startups Incubated at RTBI