Hyderabad: iTIC Incubator at IITH investing more than INR 1.7 Cr in DeepTech startups
iTIC is investing INR 10 to 25 lakhs in various startups
Selected 9 startups at idea and prototype stages for the support
Startups selected are part of the NICE program, NIDHI PRAYAS program, and HDFC grant
Hyderabad: iTIC Incubator at IIT Hyderabad (IITH) recently selected 9 deep tech startups from across India to support them via their pre-incubation and incubation support programs.
A signing and onboarding ceremony was organized to facilitate and give a boost to top-notch startups. iTIC Incubator is investing up to INR 25 Lakhs each in the following 6 Prototype ready startups:
Learn and Empower which is working on building an accessible game-based learning platform for children with hearing loss, LiqSure Systems which is building a water purification system using hydrodynamic cavitation principal for greywater treatment, Milatronics which is building automated feeding system for aqua farmers, PranahitaBiotrinics is developing AI-powered low-cost testing kits for COVID and other viruses, Eaffocareis working on regenerative products for gums and periodontitis treatments.
iTIC is also investing up to INR 10 Lakhs each in 3 Proof of Concept stage startups namely Humus Biosystems which is working on water treatment using microbes and biomaterials, Raibo Systems which is working on developing surgical assistive robots, and Sridevi Machinery which is working on building automated power weeder.
Welcoming the Startups onboard, Prof BSMurty, Director, IITH said,“The focus of IITH is on translating the innovations into technologies useful for humanity. Hence, it is good to see startups working on themes of water treatment, aquafarming, assisted technology for children with special needs, affordable covid testing,etc being part of the list.”
Asserting the startup initiatives of IITH, Prof Suryakumar S, Faculty-in-charge, Incubation, Innovation &Startups, at IITH said,“Our aim is to provide a vibrant platform for the startups to convert their ideas into successful businesses. We are thankful for the financial support from establishments like NMDC and HDFC in making that happen.”
Other than investments the startups will be supported with structured mentorship, co-working space, access to a maker lab, access to networking and events, investor connects, and access to IITH infrastructure.