10 December 2019, Vellore TN, VITTBI:
VITTBI promotes entrepreneurship and provides nurturing startups through its structured Technology Business Incubation program. The support includes access to state of the art equipment facility, mentoring, seed funding, innovation grants, team building and industry connect.
Under ECell, VITTBI promotes entrepreneurship through activities such as interaction with startups, hackathons & makethons, awareness camps and e-summit.
Student Startup Venture grant:
VIT has provided a corpus of Rs.1 Crore for idea to prototype activities of students under Student Startup Venture initiative. More than twenty five students/ teams have received support under this grant.
Any graduating student/ team of students starting a venture and signing up for incubation support are provided with an additional grant of Rs.5 Lakhs towards the venture initiative.
Five student startup ventures have come through these initiatives and two teams were provided with an additional seed funding support of Rs.85 Lakhs in the last one year.
VITTBI has established a BioNEST Bioincubation facility with the support of Biotechnology Industry Research Assistance Council (BIRAC) during 2017 and is a PRAYAS Centre under Department of Science and Technology’s NIDHI-PRAYAS program.
Under this innovators / startups are provided with a grant of upto Rs.10 Lakhs towards building a prototype of their ideas and start a venture. VITTBI would launch NIDHI Seed Fund Support scheme in 2020 to provide seed funding up to Rs.1 Crore per venture
The ecosystem in the campus and the focused support provided to student at every stage in their idea to market journey has resulted in good amount of interest among students to stay back in the campus to build their ventures. Few innovative ventures started through campus incubation program and their rapid growth is shared in this document.
Please visit www.vittbi.com for detailed info..
Some of the Student Startups at VITTBI:
ALFALEUS TECHNOLOGY PRIVATE LIMITED: Sandal Kotawala & Dewang Gupta, graduates of 2018 from VIT
- Develop portable medical devices to test for visual functions of eye (C3 Field Analyser)
This product has received very good feedback from Ophthalmologists and has sold more than 30 devices in the last one year. Sandal was a recipient of Rs.1 Lakh idea to prototype grant and Rs.5 Lakhs student startup venture grant. This company was facilitated through mentorship (both inside the campus and at Aravind eye hospital) , a team consisting of large number of students and access to R & D facilities. It has won several national and international awards for its innovative solution and SWISSNEX & DST award of Rs.10 Lakhs is a prominent one among the awards.
ENRECOVER ENERGY RECOVERY SOLUTIONS PRIVATE LIMITED: Abhijeet Chaudhari and Nikhil Chougale, graduates of 2017 from VIT.
Pioneering in building waste heat recovery products that will utilize industrial waste heat and convert to electricity. This company got his first assignment from Tata Steels and has been acquired by a solar major this year.
FINDMIND ANALYTICS PRIVATE LIMITED: Anubhav Mishra and Rahul Tiwari, B.Tech students from VIT, Vellore
FindMind is an analytics firm which uncovers hidden facts and patterns out of data and strives to provide tech-based solutions
This team has won a prize money of Rs.15 Lakhs from Finnovatica, an innovation challenge organized by Fullertron, Mumbai last year.
They have been selected under a Legal tech accelerator program by one of the leading law firms in the country and this would help them to launch their legal analytics product.
RENAURA WELLNESS PRIVATE LIMITED: Nishant Gupta and Palash Pandey, graduates of 2015 from VIT, Vellore
RENAURA tackles the problem of hair fall caused due to hard water and iluvia professional is in the stands now at select salons and retail outlets. RENAURA Raised seed funding from VITTBI and angel funding from a Bengaluru based firm.
ARACIV TECHNOLOGIES PRIVATE LIMITED (VICARA): Adarsh Warrier and Abhishek Satish, graduates of 2017 from VIT, Vellore.
- KAI, a controller worn on the palm that uses proprietary gesture recognition technology to augment digital interaction by enabling intuitive gesture based controls.
ARACIV raised angel investment last year and successfully closed a crowd funding round through Indiegogo this year.
ASHVA TECHNOLOGIES: Anmol Saxena & Sandeep Reddy Goluguri, graduates from VIT (2017 batch), Vellore have founded ASHVA WEARTECH
At ASHVA, their mission is to drive humanity towards the next stage of evolution by overcoming defects and augmenting natural human body capabilities through intelligent wearable technologies.
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