IIT-BHU to Release Rs 5 Crore Grants to Tech Startups & Research Projects
Varanasi: The Indian Institute of Technology (IIT) BHU is set to bolster innovation and support the development of commercially viable technologies across various sectors. This initiative includes agriculture, health, defense, telecommunications, power, education, finance, and drone technology. Through its I-DAPT Hub Foundation, IIT-BHU will release grants totaling approximately Rs 5 crore to selected tech startups and research projects.
Overview of the Grants
This substantial financial support aims to strengthen the region’s innovation and entrepreneurship ecosystem. The project director of the hub, Professor RS Singh, announced that they received a total of 136 applications from across the country under its Startup Incubation Program, which was launched in July. Following a rigorous evaluation process, 22 startups were shortlisted for these grants.
Research Projects Selected
In addition to the startups, 12 research projects were selected from 21 applications submitted under the Call for Research Proposals category on the I-DAPT website. The total grants awarded to these selected startups and research projects will amount to around Rs 5 crore.
Key Contributors
Professor Singh acknowledged the contributions of the I-DAPT team, including CEO Shachi Mishra, project manager (Technology) Anilabh Agrawal, and project manager (Startup) Ram Chandra Parida. Their efforts have been instrumental in supporting the initiative and fostering a conducive environment for innovation.
Ongoing Opportunities for Innovators
Professor Singh emphasized that innovators and researchers are encouraged to continue applying under the ongoing Call for Research Proposals and Chanakya Fellowships. The next cohort of the Startup Incubation Program, which was launched on November 12, has expanded its support, offering funding of up to Rs 1 crore for each deserving startup.
Alignment with National Initiatives
Highlighting the institute’s commitment to national priorities, IIT-BHU Director Professor Amit Patra stated that the primary objective of the I-DAPT Hub Foundation is to nurture a robust innovation ecosystem aligned with key national initiatives such as:
- Make in India
- Viksit Bharat
- Atma Nirbhar Bharat
Conclusion
The initiative by IIT-BHU is a significant step towards enhancing the entrepreneurial landscape in India. By providing financial support to startups and research projects, the institute is not only fostering innovation but also contributing to the overall economic development of the region. This financial backing will empower innovators to bring their ideas to fruition, potentially leading to breakthroughs that can impact various sectors.
Note: The information provided in this article is based on the latest announcements from IIT-BHU and is subject to change as new updates become available.
