IIT Madras Researchers Develop Intelligence Platform to Support Start-Ups; Check Details Here

New Delhi: A group of researchers from Indian Institute of Technology (IIT), Madras Centre for Research on Start-ups and Risk Financing (CREST) have developed an ‘Intelligence Platform on Government Funding Schemes for Start-ups’ to boost the start-ups sector in the country. 

The portal by IIT Madras was launched by Amitabh Kant, India's G20 Sherpa on October 25, 2023. During the event, Amitabh Kant highlighted, “At the click of a mouse, the entrepreneur can get to know about all the government schemes in a single location. Furthermore, the platform also provides detailed analytics such as the start-ups that have benefitted from the scheme, average financial investment received, age of the start-up at the time of getting funded, number of founders in the start-up and the age of founders at the time of getting financial support. ”

According to the press release by IIT Madras, the platform was developed and implemented in partnership with YNOS, an IIT Madras-incubated start-up. This platform will provide the contact details and the social media links of the respective schemes, enabling the entrepreneurs to get more information about the scheme if they are interested. The entrepreneur can also download a detailed report on each and every scheme through a click.

In an endeavour to boost the start-up sector, the Centre for Research on Start-ups and Risk Financing (CREST), @iitmadras, has developed an ‘Intelligence Platform on Government Funding Schemes for Start-ups’. It is developed in partnership with @YnosIn, #IITM-incubated start-up. pic.twitter.com/tX9m9CJtD0

— IIT Madras (@iitmadras) October 25, 2023

The product integrates information on the various central government schemes, central public sector companies, and also that of various state governments. There are more than 100 different schemes by different agencies.

Read: DoMS IIT Madras MBA Admission 2024 Open; Apply till Jan 31, 2023

“The information platform on government funding for start-ups contains comprehensive information on more than 100 schemes of various ministries and departments. Close to 10,000 start-ups have benefited from these schemes. Many of the start-ups that receive government support undergo rigorous verification and diligence. Prominently showcasing the start-ups that have received government support, also helps to get the attention of private sector investors such as Angels and VCs, for subsequent funding. Consolidating information of all government schemes helps to communicate the aggregate impact of these schemes in a very powerful manner,” adds India's G20 Sherpa Amitabh Kant.

Read: IIT Madras's Zanzibar Campus To Open In Early November

“The motivation for developing this platform was driven by the information challenges faced by entrepreneurs and other stakeholders of the Indian start-up ecosystem. Information was scattered, not easily accessible and did not address the needs of the stakeholders. CREST, an Institute of Eminence Research Centre of IIT Madras, chose to demonstrate its global research leadership by addressing this national challenge. The result was the creation of a global standard intelligence platform on the Indian start-up ecosystem that addressed the information challenges faced by early-stage entrepreneurs," said Prof A Thillai Rajan, Principal Investigator of CREST, and faculty, Department of Management Studies, IIT Madras.

Popular Courses at IIT Madras

Also Read:

• IIT Madras to Develop Early Pancreatic Cancer Detection Biomarkers; Check Here
• IIT Madras Foundation Partners with 5 Start-Ups for Upskilling in AI, ML, Data Science
   

Subscribe to Collegedunia to get the latest educational news and updates –