Three startups mentored by the Kerala Startup Mission (KSUM) have bagged a seed funding of up to Rs 25 lakh each in the India Innovation Growth Programme (IIGP) at New Delhi.
The Kerala-based startups- Genrobotic Innovations, Irov Technologies and Sastra Robotics- were among the 16 winners, who will also get an opportunity to undergo an incubation process along with mentoring support.This would also enable them to scale up their operations and accelerate market penetration, a press release said.
The IIGP 2018 edition was a combined initiative of Department of Science and Technology (DST), Government of India, Lockheed Martin, and Tata Trusts. This programme aims to support the Government of India’s missions of “Start-up India” and “Make in India.” It provides an innovation ecosystem to enable innovators and entrepreneurs to develop technology-based solutions.
The 16 winners were selected from top 50 innovators, chosen from 3,000 applicants. Selected innovators were given an opportunity to attend a boot camp conducted by IIM-Ahmedabad, after which 16 were picked. Out of the nine startups from Kerala that participated in the event held last week, seven were supported by the KSUM.
These startups would now get an opportunity to test their products in the market with the help of leading scientists, technology experts, entrepreneurs and investors partnered with the programme. KSUM is the nodal agency of Government of Kerala for entrepreneurship development and incubation activities in the state. (Story Courtesy:ET)