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IIT-H’s iTIC Incubator selects eight start-ups for incubation

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Info-tech

Our Bureau | Hyderabad, May 9 | Updated on: May 09, 2022

Besides funding, shortlisted start-ups get access to mentorship, co-working space, maker club and investor ecosystem

iTIC Incubator, a technology business incubator (TBI) promoted by the IIT – Hyderabad and supported by the Department of Science and Technology (DST), has selected eight deep-tech start-ups from different States for its pre-incubation and incubation support programmes.

The incubator will invest ₹25 lakh each in six start-ups, including Learn and Empower (game-based learning platform for children with hearing loss); LiqSure Systems (a water purification system using hydrodynamic cavitation principal for grey water treatment); and Milatronics, which is building automated feeding system for aqua farmers.

Pranahita Biotrinics, which is developing AI-powered low-cost testing kits for Covid-19 and other viruses, has also been selected for the incubation programme.

The incubator will invest ₹10 lakh each in three start-ups, who have developed proof of concept for their products.

“Our aim is to provide a vibrant platform for the start-ups to convert their ideas into successful businesses,” Suryakumar S, Faculty-in-charge – Incubation, Innovation and Start-ups at IIT-Hyderabad, said.

Besides getting the fund, the shortlisted start-ups will get access to mentorship, co-working space, maker club and the investor ecosystem.

The seven-year-old incubator has, so far, supported over 100 start-ups through its pre-incubation, incubation and acceleration programmes. Besides providing a financial support of ₹5 crore, it helped the startups raise over ₹50 crore in funding. “The iTIC start-ups have generated more than ₹100 crore in revenues and created over 800 jobs,” an IIT-H statement said on Monday.

Published on May 09, 2022

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