Cohort started with 4 startups in deeptech, medtech, media tech and mobility domains, selected from over 200 applications.
Startups will get up to INR 40L seed fund, strategy mentoring, research advisory and market access
Since 2016, 26 cohorts 48 startups, and about 53% raising follow-on funding.
HYDERABAD, India, June 6, 2023 /PRNewswire/ -- The Centre for Innovation and Entrepreneurship (CIE) at IIIT Hyderabad announced the onboarding of 4 startups for the Avishkar accelerator 2023 Summer cohorts of Deeptech, Mobility, Healthcare and Mediatech domains. Since the launch of Avishkar accelerator in 2016, there have been over 26 cohorts and 48 startups in AI, ML, IoT, and digital health with about 53% of them raising follow-on funding.
The Accelerator Kickoff was held from 29 May - 2 June 2023 with CIE's panel mentors and experts from the industry. From an overwhelming application pool of 120+ startups, the selection committee shortlisted 6 startups for the program. The shortlisted startups were from domains of real-time data collection of patients' movements, Brain Health management, lithium-ion cell manufacturing, C-V2X, AI & Digital Twins and Web tools for mobile.
As a part of the Avishkar Accelerator, the selected startups will receive INR 40L seed fund along with a detailed 6-month plan that offers 4 streams of mentorship - Business Strategy, GoToMarket Plan, Technical Review and domain-specific mentorship. The program is facilitated jointly by CIE, IIIT Hyderabad, Co-creation Consulting, and SucSeed Indovation fund among other industry leaders. The program also opens avenues for startups through IIITH's research support and collated networks and Corporate Connects.
Prof. Ramesh Loganathan, COO of CIE-IIITH says, "Very happy to see Avishkar in its 7th year. A program that connects deep tech startups, research and market access, thru a structured 6-month accelerator program."
The startups shortlisted for this cohort are:
- NxtQ aims to provide accurate and real-time data about a patient's movements, allowing prosthetists and orthotics to create customized devices that better match their needs.
- Nirvesh Enterprises aims to provide Post Operative Brain Health Management. They plan to provide this through products related to neuro-care.
- Petrol Social aims to bring all the tools found on PCs and the web to mobile. Tools such as content creation platforms, and smart legos on mobile.
- Eranext Auto enables Vehicles To Communicate With Each Other And Their Surrounding Infrastructure, Including Pedestrians And Other Road Users.
About IIIT-Hyderabad: The International Institute of Information Technology, Hyderabad (IIIT-H) is an autonomous research university founded in 1998 that focuses on the core areas of Information Technology, such as Computer Science, Electronics and Communications, and their applications in other domains through inter-disciplinary research that has a greater social impact. Some of its research domains include Visual Information Technologies, Human Language Technologies, Data Engineering, VLSI and Embedded Systems, Computer Architecture, Wireless Communications, Algorithms and Information Security, Robotics, Building Science, Earthquake Engineering, Cognitive Science, Computational Natural Sciences and Bioinformatics, Education Technologies, Power Systems, IT in Agriculture and e-Governance.
About CIE IIIT Hyderabad: The Centre for Innovation & Entrepreneurship (CIE) was set up in 2008 and has since grown to be the largest academic incubator in the country. CIE-IIITH was supported by DST (TBI) and MeitY (TIDE) in the initial years. Today, there are very active programs focused on emerging technology startups, research-based startups, medical technologies, and social technology startups. In the past 14 years, CIE has housed over 300+ startups that have raised about 200 Cr in funding and created over 2000 jobs.
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