8 Start-ups Receive Prototyping Grant from SR Innovation Exchange2 years ago Saritha Keshamoni
A total of INR 44 Lakhs was disbursed to Entrepreneurs and Student Innovators under the Technology Business Incubation TIDE 2.0 MeitY Scheme.
Technology Business Incubator SR Innovation Exchange (SRiX), Warangal, announced today they have disbursed the grant-in-aid to 8 start-ups under TIDE 2.0 Meity scheme. An amount of INR 44 lakhs was rewarded under the scheme in the presence of Dr. AK Garg, Director, Innovation and IPR Division, Govt. of India, MeiTY.
SR Innovation Exchange (SRiX), an official TIDE 2.0 centre is in SR Engineering College, Warangal and is supported by DST (Department of Science & Technology, Govt. of India).
The grant was facilitated through TIDE 2.0, an initiative of Ministry of Electronics and Information Technology(MeitY), under the Meity Startup Hub to promote tech entrepreneurship through financial and technical support to incubators engaged in supporting ICT startups primarily engaged in using emerging technologies such as IoT, AI, Block-chain, Robotics etc. in pre-identified areas of societal relevance.
Congratulating the winners for receiving the grant, Sreedevi Devireddy, CEO of SR Innovation Exchange said “These innovative award recipients epitomize the entrepreneurial spirit that is flourishing in the Startup community. We are delighted to play our part to facilitate these start-ups to pursue their dream ventures. We received around 80 applications, we had a tough time shortlisting the winners. We disbursed an amount of INR 4 Lakh each to 4 start-ups, and another INR 7 lakh each to 4 start-ups, this will provide the initial ignition needed for them to develop a market-ready product.”
“SRiX provides the product designing, prototyping and testing infrastructure support for startups, our state of the art precision component manufacturing capabilities ensure that any innovator who is keen on the accuracy, precision in metal works don’t go empty-handed. CNC Lathe, CNC milling machines, Laser cutting machine are available for innovators to get their products manufactured. Pioneer brands in 3d printing like Markforged, Ultimaker are available in SRIX, Makerspace for innovators. The whole gamut of power tools; chop saw, mitre saw, sanders, grinding to name a few are available.” She added.
Sharing the details on the technologies these start-ups are working on, Sreedevi said, it is quite diverse from mixed reality, AI/ML & Data Analytics, Blockchain, Internet of Things to drone technology. We are pleased to announce that 6 startups have women co-founders and noteworthy is 3 of the winners are student start-ups of Warangal region.
The recipients of the grant are Varaha Innovation Studios and Technologies, Youcode intelligence Solutions, Oakmont RSM Info Solutions, Viben QR Innovations, Garudaastra Aeroinventive Solutions, Cloudchip Technologies, MHFICTIO Creations, and Gryptrx Solutions.
The Chief Guest Shri Dr. A.K.Garg ( Director – Innovation & IPR Division, Government of India, Ministry of Electronics & Information Technology ) in his address said “TIDE 2.0 is a scheme of GoI, aims to promote Tech Entrepreneurship. One of the objectives is to evolve an ecosystem to use emerging technologies for digital inclusion specially in Tier II & Tier III cities. It is so hearty to see that SRiX situated in this Tier II city Warangal is having such wonderful facilities for Research & Innovation. Some promising young minds are being supported today by SRiX under TIDE 2.0. I hope that it will establish an alternate economic hub in Telangana”.
Shri Venugopal Reddy Kandimalla, Senior Vice President, Global Head Healthcare and Lifesciences at Tech Mahindra Guest of Honour, at the event congratulated the startups and said “Very encouraged and happy to see start up’s using digital technologies to solve problems that are human-centric with far-reaching implications. Incubators like SRiX have a great role to play in encouraging entrepreneurship in rural India”.
SR Innovation Exchange (SRiX)is a technology business incubator under the aegis of DST (Department of Science & Technology, GoI), includes a MakerSpace, Internet of things Centre of Excellence, Rapid Prototyping facilities and other facilities to support product startups. SRiX is one of the 4 incubators in the country to offer the prestigious PGDM – IEV course approved by AICTE, offering students an academic-entrepreneurship driven opportunity to pursue a world-class PGDM and build their Startup at the same time.