Home Contest ICAT Automotive & Mobility Product Acceleration Program

ICAT Automotive & Mobility Product Acceleration Program

by opportunitydiary

Application Deadline: 17 APR, 2022

The contribution of the automobile sector to the overall GDP of India stands at 7.1 percent and 49 percent of the manufacturing GDP, with an annual turnover of Rs 7.5 lakh crore and export of Rs 3.5 lakh crore.

While this is a very promising figure, there is also a side to this picture where the industry also is a large importer with significant imports in components and technologies.

The Accelerator initiative by the International Centre for Automotive Technology (ICAT), with active support from the Ministry of Heavy Industries (MHI), is a 2-year program focused on Product Development and Commercialization in the automotive domain by the participants.

Eligibility

Startups (Technology Readiness Level with Experimental Proof of Concept ready or beyond), SMEs, Industry participants may apply
Indigenous product development with import substitution achievement.

Application Procedure

The participants will need to include a commercialization plan also, either as an organization or in a collaborative manner with partners. Startups, SMEs, and Industry participants are invited to this acceleration program, contributing towards and helping realize the AtmaNirbhar Mission of the Government of India to support and catalyze indigenization in the Indian Automotive industry.

Incentives

  • Fiscal Incentives
    • 30% discount on testing and validation cost of developed products using ICAT test facilities
    • Up to 80% Grant of the total project cost (product development) upon acceptance by MHI.
  • Non-Fiscal Incentives
    • Mentorship Support
    • Support for technology commercialization/transfer of technology
    • Industry and Market awareness and exposure
    • Support and inputs from experts for product development/improvement

Relevant Stakeholder

  • Accelerator
  • Incubator
  • Investor
  • Validation Stage Startup
  • Early Traction Startup
  • Scaling Stage Startup
  • Corporate
  • Relevant Industry: Automotive

Relevant Service Type

  • Government
  • Manufacturing
  • Consulting
  • Engineering
  • Research

Official Website: ICAT Automotive & Mobility Product Acceleration Program

Related Articles

Leave a Comment