Encouraging and making way for budding entrepreneurs, IIT Kanpur is taking leaps to provide financial aid to Indian start-ups working towards scientific advancement with unique technological designs. Recently, IIT Kanpur’s Startup Incubation and Innovation Centre (SIIC) partnered with the central government’s Ministry of Micro, Small and Medium Enterprises (MSMEs), to furnish adequate financial aid under MSME Design Innovative Scheme.
More about the initiative!
The Design Innovative Scheme promoted by Ministry of MSME will provide grants to final year students from under-graduate and post-graduate levels, and to MSMEs operating in the design domain. The funds will be provided for a year towards the development of selected prototypes. The subvention provided to the students is fixed at ₹1.5 lakhs, whereas the MSMEs will be awarded ₹15-40 lakhs each. Participants can apply under fifteen identified themes of MSME Idea Hackathon 2.0.
IIT Kanpur is paving the path to promote the manufacturing industry by developing innovative technologies that will bring a significant global revolution to strengthen the self-reliant initiative.
Ankush Sharma, Prof-in-charge, Innovation and Incubation, IIT Kanpur
7 selected enterprises receiving the grant-in-aid for prototypes
Seven projects, by seven enterprises have been approved for prototype development. These include the following:
M/S Asatrobo Technologies Pvt. Ltd – ‘Drones for Drone Light Show’ : This project envisages the design and development of a drone that would be compatible with the software from UgCS (a leading firm for drone shows).
M/S Kanpur Writers – ‘Industrial Electronic Controller for Pen Point Welding Machine’ : This is an industrial electronic controller based on a high-speed micro-controller and cutting-edge components. The proposed device can weld up to 1.5mm in diameter.
M/S Water N Spices Foodsz Pvt. Ltd – ‘Automatic Stuffing Dispenser, IoT with a Remote Control’ : The automatic stuffing dispenser will come with stainless steel food grade 304 bucket and sensor-based nozzles inbuilt with a mixer and grinder, operated by IoT applications to mix, grind and dispense semi-liquid/paste/chutneys and other ingredients.
Villa Mart Pvt. Ltd.- ‘IoT based Portable Jaggery Maker’ : This will be a portable solution to extract juice and make jaggery. The juice is filtered through a mesh after the extraction, followed by cooking in a designated container.
M/S Agronxt Services Pvt. Ltd. – ‘Affordable Weather cum Insect monitoring station with Integrated Advisory and Prediction system’ : The product comes with 2G cellular connectivity that sends data to the cloud periodically. It is powered by a 7W portable solar panel with 4400mAH battery, and is equipped with a soil moisture sensor, 5 MP camera, IPX3 and IP65 core electronics components.
M/S LCB Fertilizers Pvt. Ltd. – ‘Nanocoated seed’ : These seeds contain a layer of super-absorbent polymer, reducing the demand for time-to-time irrigation.
M/S Acquafront Infrastructure Pvt. Ltd. – ‘RCC Floating Photo Voltaic (FPV) Beams’ : This start-up is developing a 100-kWh peak capacity floating Photovoltaic (FPV) grid using glass fibre reinforced concrete (GFRC) floating beams. Solar panels are mounted on top of GFRC floating beams.
MoU signed between IIT Kanpur and SBI to facilitate financial aid
At a recent press conference, IIT Kanpur and State Bank of India singed a Memorandum of Understanding (MoU) in support to provide financial aid to the budding entrepreneurs selected under the Design Innovation Scheme.
Startup Incubation and Innovation Centre, IIT Kanpur, has signed an #MoU with the State Bank of India to help the startup ecosystem @IITKanpur. Under the terms of the MoU, the bank shall support and finance startups to uplift #Science and #Technology. @vishakg pic.twitter.com/eiSpU9uKiJ
— Abhay Karandikar (@karandi65) October 18, 2022
According to a latest release, the deadlines to apply for the grant-in-aid have been extended and Startup Incubation and Innovation Center, IIT Kanpur is still inviting applications for the MSME IDEA Hackathon 2.0 supported by the Ministry of MSME.
Apply here.
Deadline to apply: 14th November, 2022
