cities

Kerala start-ups bag seed funding

Three start-ups mentored by the Kerala Startup Mission (KSUM) have bagged a seed funding of up to Rs. 25 lakh each in the India Innovation Growth Programme (IIGP) 2.0 held in New Delhi recently, which will enable them to scale up their operations and accelerate market penetration.

The Kerala-based start-ups — Genrobotic Innovations, Irov Technologies, and Sastra Robotics

were among the 16 winners, which will also get an opportunity to undergo an incubation process along with mentoring support. IIGP 2018 edition was a combined initiative of the Department of Science and Technology (DST), Government of India; Lockheed Martin; and Tata Trusts, an official press note said.

3,000 applicants

The 16 winners were selected from top 50 innovators, chosen from the 3,000 applicants. The selected innovators were given an opportunity to attend a boot camp conducted by IIM-Ahmedabad, after which 16 were picked. Out of the nine start-ups from Kerala that participated in the event held last week, seven were supported by the KSUM.

Genrobotic Innovations Pvt. Ltd., which provides robotic solutions for sewer cleaning and other manual works, was founded by Arun George, Nikhil N.P., Rashid Bin Abdulla, and Vimal Govind M.K. in 2015. Irov Technologies Pvt. Ltd. uses its underwater drone EyeROV to inspect critical underwater infrastructures. Kochi-based Sastra Robotics India Pvt. Ltd. is a start-up founded by Aronin P. in 2012, whose product SR-Dimenzio helps perform human-arm actions for high-risk tasks requiring precision.

These start-ups will now get an opportunity to test their products in the market with the help of leading scientists, technology experts, entrepreneurs, and investors partnered with the programme.

Source: Read Full Article