The Union Ministry of Mines announced on Wednesday that it has decided to fund research and innovation in startups and MSMEs in the mining, mineral processing, metallurgy and recycling sector (S&T-PRISM) and has brought out guidelines for the scheme.
Indian Angel Network (IAN) and IIT Kanpur, through its technology business incubator, Startup Incubation & Innovation Centre (SIIC), have come together to launch the “IAN-IIT Kanpur Future Tech Accelerator Program”.
The Accelerator Program was launched on January 16 last at IIT Kanpur’s Outreach Centre, in Noida, where Prof. Amitabha Bandyopadhyay, co-professor-in-charge, Innovation & Incubation, IIT Kanpur; Dr. Nikhil Agarwal, CEO, FIRST & AIIDE-CoE; Dr. Sanchita Chaudhary, VP Business Development, SIIC; Deepak Agarwal, Consultant, SIIC; and Mr. Rajnish Kapur, Managing Partner, and Mr. Pritish Sehgal, AVP, from IAN Fund, were present.
The eight shortlisted startups for the first cohort of IAN-IIT Kanpur Future Tech Accelerator Program announced are:
Yantram Medtech, Arthavedika Tech, ProPlant, Workers Union Support, Secure Blink, Starwinglobal Era, Arishti Info Labs and Cyber Nexa.
“IAN – IIT Kanpur Future Tech Accelerator Program” is 4-6 month long structured program that will onboard the shortlisted cohort of eight startups to offer:
One-on-one mentoring support, Investor connect, Business connect, and
Perfecting pitch decks for fundraising.
Commenting on the launch of the Accelerator Program, Prof. Amitabha Bandyopadhyay, co-professor in-charge (Incubation & Innovation), said here in a statement that “this Accelerator Program offers fundamental support to the early-stage startups aimed at making them revenue-regenerating businesses. I am positive that the shortlisted cohort will do justice to the objectives of this program and will emerge as successful startups. It is a much-required intervention towards strengthening the national startup ecosystem. As a partnering institute, I look forward to its successful execution and the outcomes we achieve through it. Best wishes”.
Rajnish Kapur, Managing Partner, IAN Fund*, added, “IIT Kanpur and Indian Angel Network (IAN) are excited to announce the launch of the “IIT Kanpur-IAN Future Tech Accelerator” program. This program is designed to help startups understand their target market, shape their product better, improve their storytelling ability for investors, and ultimately raise money up to Rs 30 crore. In our maiden cohort, the accelerator will be working with eight companies from sectors ranging from health tech to social impact.
“The partnership between IIT Kanpur and IAN brings together the expertise of one of India’s leading technical institutions with the experience and resources of one of the country’s most successful angel investment networks. This collaboration will provide startups with access to cutting-edge technology, industry connections, and mentorship from successful entrepreneurs and investors.”
Dr. Nikhil Agarwal, CEO, FIRST & AIIDE-CoE, said, “I would like to give my warm congratulations to the shortlisted cohort of eight remarkable startups under the “IAN-IIT Kanpur Accelerator Program”. The structured program will grant them exposure to two of the leading ecosystems in the Indian startup landscape, i.e. Indian Angel Network and IIT Kanpur. I believe this will be an amazing opportunity for them. I carry high aspirations from these startups. Such collaborations can tremendously transform the Indian startups by helping them in their journey towards becoming successful business models.”
The Program was launched on National Startup Day 2023 to commemorate the significance of the day in the rapidly evolving national startup ecosystem, with the aim to support these indigenous startups towards deploying their innovative technology solutions and making that market ready.