Eight students of the Indian Institute of Information Technology (IIIT), Sri City with entrepreneurial aspirations have been selected for the grant announced by the Centre for its flagship startup programme.
The Technology Business Incubator – Gyan Circle Ventures functioning at the IIIT has been selected as a Group II Centre (G2C) under the TIDE 2.0 scheme of ‘Startup Hub’ being promoted by the Union Ministry of Electronics and Information Technology (MeitY), with an initial funding for five years.
The eight students selected at the TBI on Friday received grant from Ravindra Sannareddy, Managing Director of Sri City, which is also the institute’s industry partner. He assured to extend all support to the students by connecting the new startups with the 190 companies in the Sri City for testing the products or identifying the first set of customers.
The applicants would get ₹7 lakh to work in their chosen areas such as healthcare, energy, environment and agriculture.
One more applicant has been selected as ‘Entrepreneur in Residence’, a college student who would work from the campus. “The first batch of cohort applications were received in January for startup grants and thirty promising applicants were considered and evaluated for viability, while eight of them were finally selected,” explained IIIT-S Director G. Kannabiran.
