Inviting growth-oriented startups to apply for Lab32,
one of India’s largest outcome-focused programs for emerging tech startups.
Growing a startup in a booming economy is hard enough; in the midst of a recession, it can seem like a Herculean task. Yet, it’s also true that some of the leading startups in recent times – WhatsApp, Uber, Instagram, Slack, Groupon, GitHub, Airbnb, Glassdoor, Pinterest, Venmo and others – were founded either during or immediately after the last great recession.
Lab 32 is a four-month long program for early- and mid-stage tech startups. It offers structured, meaningful, outcome-driven guidance on business goals set by startups themselves, in an intensive setting. Lab32 aims to help startups push their limits, achieve their goals faster and come out of the current situation better prepared for success. Set to kick-off in September 2020, this is the fourth batch of Lab32.
• Intensive, four-month long program
• Tailored advice
• Two track options (product & marketing)
• Bootcamps & series of interventions
• Hybrid program delivery
• Need-based support by other T-Hub teams
• Offers from service providers
The following startups are eligible to apply:
• If you have a technology product developed or in prototype completion stage
• If you have a technology based product and/or solution for, but not limited to, healthcare, finance, education, smart mobility, sustainability, social impact, and smart cities, using technology like AI, ML, DL, AR/VR/XR, Blockchain, etc.
• If you are a company registered in India
• If you are willing to participate actively during the program
• If you have a team with a minimum of two full-time members
• You are an entrepreneur or a member of a startup
• You have decided to pivot your business (create a new product or product use), or enter a new market
• You are unsure of the next steps and are stuck with the question – What do I do next?
• You stay awake at night asking either (or both) of the following questions:
• How do I make a product that my customers love?
• How do I find customers that would love my product?
The program will run for four months (with an extended two months of community support)
If you are struggling with the questions:
The program’s modules (training and consultations) will help you build better versions of your product, or discover and tap market opportunities, depending on the track you select (hold that question and read about that question further down this list). Apart from this, you will have a team at T-Hub that’s equally concerned and almost as committed as you for the success of your company, monitoring and helping you along the way.
The price is INR 75,ooo +tax for the 4 month duration of the program.
Apart from getting guidance in growing your business, here are some benefits that all participants get:
Yes and no. You have to select a track so that we can foresee the composition of the program and plan for it, but you can change to another track right until the end of induction.
Any seasoned businessperson will tell you this: at the beginning of your business growth, when resources are limited, you should pick one target and work towards achieving it. Chasing multiple targets (such as new product/service or new features AND trying to capture a new market or segment) will strain your resources and possibly drive you to failure. Hence, even if you could do both, you shouldn’t be doing both. So, no, you can’t do both tracks in this program. However, if you have chosen the product track and get your product to a stage where marketing is the next challenge, we can enrol you directly in the marketing track of the next batch of the program.
No. If your product is where it needs to be, you would already be in marketing track and if not, in product track. There is little reason for you to change tracks in between, however, we can assess your need and if suitable, consider it.
As a part of the program, you may be allowed to attend sessions from other tracks, but only if you eat your breakfast and your greens. Jokes aside, you can attend, as long as it is not conflicting with any other important agenda on our combined calendars.
Sure. As a part of your growth journey, you need help from professionals who are currently doing or have experience in having done (either for themselves or for their clients) exactly what you are attempting to do. These are working professionals who have been engaged by us to help you. You will have number of sessions over three months with the consultant assigned to you and the goal is that both of you collectively work towards achieving the success you define at the beginning of the program.
Glad you asked that question. No, they are different from mentors. The consultants you work with will provide the structured guidance you need to achieve your program goals. Should the need arise, we have a pool of experts that you can connect to, to resolve specific issues, concerns or questions you may have in any area of your business.
No, we are not. Mentor is an individual who, we believe, should be invested or committed to your growth and success and has a long, fulfilling relationship with their mentee. At Lab32, we consider mentorship as a long-term association between individuals and not purely business-objectives driven. This does not mean you cannot seek advice from experts or experienced people that we associate with. If you need them, they will always be around to help out.
In our collective experience, though a fair bit of advice given during such sessions is valuable and even beneficial to the companies, they can at best be considered as ‘advising’ and not ‘mentoring’.
For that, we have expert advisors. You will have access to advisors in the program to discuss your immediate problems (related or unrelated to the track you chose).
Lab32 will not have a Demo Day (Investor Day) since the focus of the program is on growth and not fund-raising. However, we may have an event that’s equally exciting. We are working on a plan for it and if it materializes, you’ll literally be the first to know.
No. The program’s focus is growth and not fund-raising, hence, you will not have any such formal sessions.
No. We don’t invest in any of the companies we work with. In other programs, we may create investor connection opportunities, but Lab32 is not focused on fund-raising. However, we will support every opportunity that our participants may have to connect to investors or raise funding.
If you need to raise funds and that is your primary objective, then T-Angel is a program that is designed to help you get investment ready (and attractive to investors). Applications for T-Angel will open up soon.
If there are circumstances and reasons, we may consider various payment options and decide on one mutually.
No. You will be given flexi-seats when you come for designated events to work from, while you are in T-Hub, but in general, seats are not a part of program. If you do want seats, you may connect with our community team at firstname.lastname@example.org to discuss it further
Well, yes, you do not have to work out of T-Hub if you do not want to. But if you want to, you can approach our community team (email@example.com) to discuss having a space in T-Hub.
While investor, corporate and Government connection opportunities are not a part of the program’s offering, we will do our best to facilitate a conversation with the other T-Hub teams that manage such connections.
You can mail the Lab32 team on firstname.lastname@example.org