AI Summer Residency by IIMA Ventures — Frequently Asked Questions
Answers to the questions founders most often ask about AI Summer Residency by IIMA Ventures — who qualifies, the funding amount, required documents and how the application works.
Frequently asked questions
What is the AI Summer Residency by IIMA Ventures?
It is a 4–6 week in-person AI residency program for STEM undergraduates held at the IIM Ahmedabad campus. IIMA Ventures runs it in collaboration with the Krishnamurthy Tandon School of Artificial Intelligence.
Who can apply for this programme?
Only STEM undergraduate students are eligible. Applicants should be comfortable building end-to-end prototypes and seriously interested in AI-first use cases. The programme accepts individuals, not teams or incorporated companies.
What is the application deadline?
Applications are accepted on a rolling basis — the programme is always open. However, it is advisable to apply early since the cohort is limited.
How much funding does the programme provide?
The funding amount is described as variable. The programme awards cloud credits, AI tool credits, and LLM/API credits rather than direct cash.
Does the programme take equity?
No, this is a grant-based programme. No equity is taken from participants.
What documentation do I need to apply?
The programme requires a STEM undergraduate background and a demonstrated commitment to building AI-first solutions. Formal registration or DPIIT certificates are not needed.
Is DPIIT or MSME registration required?
No, the programme is for individuals (students). DPIIT registration is not required, and MSME registration is not applicable.
At what stage of business should my idea be?
The programme is designed for the idea and product stages — suitable for early-stage AI concepts that can be developed into a minimal viable product.
Do I need to be physically present?
Yes, the residency is fully in-person at the IIM Ahmedabad campus, and full-time participation for the entire 4–6 weeks is mandatory.
How do I apply and what happens after I apply?
You apply through the IIMA Ventures website. Applications are reviewed based on your STEM background and interest in AI-first building. After shortlisting, a small cohort of undergraduates is selected to attend the in-person programme.
Who offers AI Summer Residency by IIMA Ventures?
AI Summer Residency by IIMA Ventures is offered by IIMA Ventures, an academic institution. It is provided as non-dilutive funding.