23 Startups Secure INR 5 Cr from IIM Kashipur FIED for Innovation & Growth This initiative, backed by the Startup India Seed Fund Scheme (SISFS) under the Department for Promotion of Industry and Internal Trade (DPIIT), aims to accelerate entrepreneurship, technological innovation, and business growth in India.
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IIM Kashipur, through its Foundation for Innovation and Entrepreneurship Development (FIED), has successfully disbursed INR 5 crore in funding to 23 startups across multiple sectors.
This initiative, backed by the Startup India Seed Fund Scheme (SISFS) under the Department for Promotion of Industry and Internal Trade (DPIIT), aims to accelerate entrepreneurship, technological innovation, and business growth in India.
The funding has been allocated through a mix of Convertible Debt (CCD & OCD) and Grant-based financing, providing critical financial support to early-stage startups.
Among the recipients, IKAYU Foodlabs secured INR 50 Lakhs to advance food processing innovations, while Silverhook Innovations received INR 25 Lakhs for its contributions to education technology.
Startups in the clean tech and agri-tech sectors also received support, including D'Carbpnising Center India and Learning Buddy, which were awarded INR 20 Lakhs each. Navdurga Agri Implements received INR 20 Lakhs to foster agricultural innovation, while Witness The Fitness was granted INR 30 Lakhs to promote health and wellness.
Several startups in the healthcare and renewable energy sectors also benefited from the funding. Vigorus HealthTech, Upnetra Care, and Studiovity each secured INR 50 Lakhs for their efforts in healthcare IT, general healthcare, and collaboration platforms, respectively.
Gravid Mother and Baby and Greenext Materials Energy were awarded INR 20 Lakhs each for their contributions to wellness and renewable energy. D Square Ventures received INR 30 Lakhs for its artificial intelligence initiatives.
In addition to these investments, grants were provided to emerging startups across diverse industries. Awigi LLP received INR 10 Lakhs for healthcare solutions, while Svara Resource Aid Tech Management & Operations secured INR 6 Lakhs for waste management.
Qmamu Technologies, Bivestors, and Settlezy ADR Institute received INR 10 Lakhs each for IT services, fintech, and commercial services, respectively. Other grant recipients included Doodlingo EdTech and Bandiz Technoz, with INR 6 Lakhs each for education technology, and Testamatic Labs, which secured INR 15 Lakhs for IT solutions.
Dr Kunal, Assistant Professor, IIM Kashipur, stated, "This funding opens the doors for startups to take further initiatives for growth and development. The entrepreneurial landscape in India is rapidly evolving, and funding support like this plays a critical role in empowering startups to scale their innovations. IIM Kashipur FIED remains committed to fostering groundbreaking ideas that drive industry growth and create lasting impact."
Through this initiative, IIM Kashipur FIED reinforces its commitment to nurturing startups by offering financial assistance, mentorship, and networking opportunities, driving India's innovation landscape forward.
