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RIN applies a process that is at once scientific, systematic and imaginative in all aspects of incubation - right from scouting to the final provision of services.

Selection Criteria:

RIN employs a rigorous selection criteria while evaluating innovations that will be considered for incubation support. The following are the major criteria that we use to assess any innovation and innovator.

Impact: the innovation should create a significant impact on society and in specific the rural lives

Sectoral Focus: RIN primarily focuses on innovations in the agriculture, dairy, water and energy sectors. However, we also consider a very few compelling innovations under an open sector.

Grass-root nature: we are more keen to support those innovators and entrepreneurs who lack access to technology, funding and markets that are essential to incubate the innovation.

Innovativeness: the idea or the product should be new, different or an improvement over current solutions available

Viability: the innovation should demonstrate the potential to be financially viable and business viable within atleast 5 years

Commitment: we seek the full commitment of the innovators. We also look for a coherent plan of action from the innovator that will help incubate and scale-up the innovation.

Ability of RIN to deliver value: we select only those innovations where we can add significant value in the form of funding, networks or mentoring.

Process Chart


Start
Scouting
-Reach out to innovators through direct and partnered scouting
-Receive Application for Assessment from innovators and send to screening department
                         File On Innovator
Screening
-Stage 1: Preliminary Assessment
-Stage 2: Technical Feasibility
-Stage 3: Synergy with RIN
-Stage 4: Commercial Feasibility
Develop Innovation Feasibility Report
Board of RIN to approve selection of innovation
                        Letter of Interest

Incubation
-Sign MoU and define the broad goals for incubation, then proceed to below modules:
a) Writing business plans
b) Fundraising and seed funding
c) Technology Refinement
d) Technology Transfer/s
e) Strategic Marketing
-Third party and/or RIN completes Impact Assessment Report after incubation module complete

                                     Impact Assessment Report
Exit
-Prepare exit proposal if any of the following criteria is met
a) Funds infused
b) Principal employees hired or inducted
c) Assignment of marketing rights
d) Technology transfer complete
-Obtain approvals from innovator and Board
-Conduct and document exit interview
- Incubated innovators become role models
 



Programmes at RIN

The idea to market journey is a long and arduous one. Neverthless it is exciting and challenging! All our core programmes are dovetailed with this journey.

Lemelson Recognition and Mentoring Programme (www.lramp.org): this programme aims at seed funding and mentoring ideas and enabling them to reach the market. This programme is a collaborative venture of the Indian Institute of Technology Madras (www.iitm.ac.in) and RIN and is funded by the Lemelson Foundation (www.lemelson.org) As part of this programme, RIN reaches out to innovators through a hub and spoke model with nodal centres in four reputed institutions. They include the Tamil Nadu Agricultural University (www.tnau.ac.in), Vellore Institute of Technology (www.vit.ac.in), PSG College of Engineering (www.psgtech.edu) and Gandhigram Rural Institute (www.ruraluniv.org)
 
Innovation to Market Programme: this programme aims to scale-up innovations through partnerships with those institutions that have a rural presence across India. The partners include Tata Kisan Sansars (www.tatatkk.com), Basix (www.basixindia.com), International Development Enterprises India (www.ide-india.org). This programme is being funded by Hivos (www.hivos.org) and Sir Dorabji Tata Trust (www.tata.com/0_our_commitment/community_initiatives/tata_trusts/dorab_tata_trust.htm).
 
Samruddhi: this programme aims to create village level prosperity by improving last mile linkages. In this project, RIN will make accessible innovations to rural farmers in selected districts of Tamil Nadu through partnered or direct retail channels.
 
Srishti: this project will offer to innovators services such as engineering and product design, fabrication, field trials etc., so as to build better new products. This project is a partnership between Vortex Engineering (P) Ltd (www.vortexengg.com) and RIN.