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Tuesday, December 5, 2023

IIT-Madras develops Intelligence platform to boost Start-up sector


IIT Madras researchers at the 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-up sector.

Developed and implemented in partnership with YNOS, an IIT Madras-incubated start-up, the government funding platform for start-ups brings together the entire spectrum of start-up schemes from the government to the doorsteps of the entrepreneur.

The platform has been developed based on several years of research and data collected by a team led by Prof. Thillai Rajan, Principal Investigator of CREST, and faculty, Department of Management Studies, IIT Madras.

The portal will help entrepreneurs to get a comprehensive understanding of the government funding landscape for start-ups. 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.

Mr. Amitabh Kant, India’s G20 Sherpa, launched the platform in New Delhi on Wednesday.

Speaking on the occasion, Mr Amitabh Kant said, “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. ”

“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, he said.

Consolidating information of all government schemes helps to communicate the aggregate impact

of these schemes in a very powerful manner, said, an IIT-Madras release here said.

The platform also gives the contact details and the social media links of the respective schemes.

This enables 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 simple click.

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