Apply for AIC ISB Seed Fund Incubator

Introduction

In India’s fast-evolving startup landscape, where ideas are abundant but execution is everything, early-stage entrepreneurs often face one critical challenge — access to the right ecosystem. Funding, mentorship, and market validation are as essential as innovation itself.

That’s where incubators like AIC ISB Association step in — bridging the gap between promising ideas and successful businesses.

The AIC ISB Association, established at the Indian School of Business (ISB), Mohali, is part of the national network of Atal Incubation Centres (AICs) supported by the Atal Innovation Mission (AIM), under NITI Aayog. It offers incubation, acceleration, and seed fund support to startups working on impactful, scalable innovations.

If you’re a founder aiming to raise your first round of funding, get structured incubation support, and build your venture under ISB’s rich ecosystem — this detailed guide will walk you through every step of applying for AIC ISB’s seed fund and incubation program.

1. About AIC ISB Association

The AIC ISB Association (AIC ISB) serves as ISB’s dedicated platform for startup incubation, innovation acceleration, and ecosystem development. It blends ISB’s academic excellence, industry network, and entrepreneurial expertise with AIM’s national vision for innovation-driven growth.

Vision

To nurture and scale high-impact startups through mentorship, funding, and access to global markets, fostering an innovation-led economy.

Mission

To support entrepreneurs with funding, mentorship, and capacity-building.
To connect startups with ISB’s vast network of investors, mentors, corporates, and researchers.
To promote innovation-driven entrepreneurship, focusing on both commercial and social impact.

Location & Ecosystem Advantage

Situated within ISB’s Mohali Campus, AIC ISB operates within a dynamic environment — surrounded by academia, research labs, investors, and business leaders. This unique setting makes it more than just a workspace — it’s an ecosystem of knowledge, credibility, and opportunity.

2. Why Incubation & Seed Funding Matter for Startups

Before diving into the application process, it’s worth understanding why joining a seed fund incubator like AIC ISB can be a game-changer.

In early stages, startups often struggle with:

Limited financial resources for product development or pilot runs.
Lack of structured mentorship and business guidance.
Difficulty accessing investors or corporates for validation.
Weak business fundamentals (unit economics, market entry, IP strategy).

AIC ISB’s incubation programs address all of these challenges. Through a mix of funding, business mentoring, and ecosystem exposure, the incubator ensures that startups evolve from “idea-driven” to “investment-ready.”

3. What AIC ISB Offers: Programs & Support

AIC ISB runs a portfolio of structured programs designed to support startups across their lifecycle.

a. Pre-Incubation Program

For idea-stage entrepreneurs — this phase focuses on ideation validation, business model design, and proof-of-concept support.

b. Incubation Program

For early-stage startups — offering workspace, mentoring, market validation, and seed funding.

c. Accelerator Program

For startups ready to scale — focusing on growth metrics, fundraising, and partnerships.

d. Seed Fund Assistance

One of the most critical offerings, aligned with the AIM Seed Fund Scheme, provides financial aid to startups developing prototypes, conducting market tests, or scaling early operations.

4. Understanding the Seed Fund Support

The Seed Fund is designed to empower startups at proof-of-concept, prototype development, or early traction stage.

Objectives

To bridge the funding gap between product development and investor readiness.
To help startups achieve early market validation or pilot-scale operations.
To de-risk startups and make them more attractive for angel or VC investment.

Typical Funding Size

Depending on program and startup readiness, support may include:

Up to ₹20 lakh for prototype or product development.
Up to ₹50 lakh for scaling or early market entry (depending on AIM’s guidelines and availability).

Mode of Support

Funding can be extended in the form of grants, convertible instruments, or debt-linked assistance, based on evaluation and program type.

5. Eligibility Criteria

AIC ISB follows structured eligibility parameters, aligned with NITI Aayog and DPIIT norms:

Startup Status – The applicant must be a registered startup under DPIIT (Department for Promotion of Industry and Internal Trade).
Legal Entity – Should be incorporated as a Private Limited Company, LLP, or Registered Partnership.
Age of Startup – Less than 10 years from the date of incorporation.
Innovation Criteria – The startup must work on innovative, technology-driven, or process-improvement solutions.
Stage – Early-stage with at least proof-of-concept or prototype ready.
Scalability – High potential for growth, job creation, and market scalability.
Engagement Readiness – Ability to participate in mentoring sessions and review activities at AIC ISB.

Sector focus areas may include HealthTech, AgriTech, FinTech, SaaS, DeepTech, EdTech, and Social Impact Innovation.

6. Step-by-Step Process to Apply

Here’s a comprehensive guide to help you apply successfully for seed fund and incubation support at AIC ISB:

Step 1: Explore the Programs

Visit the official website: www.aicisb.org
Navigate to the Programs section and identify open applications (Seed Fund, Incubation, or Accelerator).

Step 2: Review Eligibility

Read the eligibility criteria carefully — different programs may have additional conditions, like incorporation age, sectoral focus, or traction level.

Step 3: Prepare Your Documents

You’ll need to submit the following:

Startup Certificate (DPIIT)
Company Incorporation/Registration Document
Founders’ KYC (PAN, Aadhaar)
Business Plan or Pitch Deck
Traction/Financials (if any)
Proof of concept or prototype images/videos
Letters of intent or existing customer/pilot engagements

Step 4: Fill the Online Application Form

Submit your startup’s details via the online application portal. Include:

Problem & solution overview
Market opportunity
Business & revenue model
Funding requirement
Current traction and roadmap

Step 5: Evaluation Process

Applications are evaluated on:

Innovation & differentiation
Scalability potential
Founding team strength
Market feasibility
Financial sustainability

Shortlisted startups are invited for pitch presentations — either online or onsite at ISB, Mohali.

Step 6: Final Selection & Onboarding

Selected startups receive an official onboarding offer. The process includes:

Signing of incubation agreement
Allocation of mentor
Fund disbursement schedule
Workspace access and networking integration

Step 7: Growth & Review

Incubated startups undergo regular mentoring, workshops, investor sessions, and demo days.

7. Benefits of Joining AIC ISB

Joining AIC ISB isn’t just about funding — it’s about transforming your startup into a structured, investor-ready venture.

✅ Access to Seed Funding

Startups receive crucial early-stage funding to develop or scale their products.

✅ Structured Mentorship

Mentorship from ISB alumni, global business leaders, and domain specialists helps refine business strategy and investor readiness.

✅ Industry & Investor Connect

AIC ISB connects founders with venture funds, angel networks, and corporate partners for pilots and investments.

✅ Global Exposure

Access to international programs, partnerships, and startup summits through ISB’s global network.

✅ Research & Academic Collaboration

Founders can leverage ISB’s research ecosystem for product validation, impact studies, or market analysis.

✅ Brand Credibility

Being incubated at ISB, one of India’s premier business schools, adds immense credibility when pitching to investors or clients.

8. Impact & Success Stories

Over the years, AIC ISB has supported 100+ startups across multiple sectors. Some highlights include:

₹40+ crore cumulative funding raised by incubated ventures.
150+ mentors onboarded across sectors.
Collaboration with corporates, investors, and industry associations (like PHD Chamber of Commerce).
Focus programs in healthtech, SaaS, agritech, and social impact innovation.

This measurable impact showcases how AIC ISB has become a key driver of innovation in Northern India’s startup ecosystem.

9. Tips to Strengthen Your Application

Want to improve your chances of selection? Here’s how:

Be concise & clear – Explain your idea in measurable, problem-solution terms.
Show traction – Even a few users, pilot projects, or early customers can strengthen your application.
Demonstrate commitment – Full-time founders or dedicated teams are prioritized.
Highlight innovation – Focus on what differentiates your product technologically or operationally.
Know your numbers – Be clear about market size, unit economics, and funding utilization.
Customize – Tailor your application to align with AIC ISB’s programs and focus areas.

10. Contact Information

📍 Address:
AIC at Indian School of Business (ISB)
ISB Mohali Campus, Knowledge City, Sector 81,
Sahibzada Ajit Singh Nagar, Punjab – 140306

📧 Email: contact@aicisb.org
📞 Phone: +91-89770-11810
🌐 Website: www.aicisb.org

11. Conclusion

The AIC ISB Association represents the ideal blend of academia, industry, and innovation support. Backed by NITI Aayog’s Atal Innovation Mission, it provides the structured mentorship, funding, and strategic ecosystem that early-stage founders need to scale.

For startups seeking to move from prototype to product-market fit, or from seed stage to scalable growth, AIC ISB offers a rare opportunity to plug into one of India’s most credible incubator networks.

Whether you’re a young founder, a student innovator, or an early-stage entrepreneur — your journey to scale could begin at AIC ISB.
Prepare your business plan, refine your pitch, and take that leap — because your startup deserves the best possible start.

How to Apply for Seed Fund & Incubation Support at AIC ISB Association