Monday, 26 February 2024

IIT-M develops intelligence platform on government funding schemes for startups

To help entrepreneurs get a comprehensive understanding of the government funding landscape

Researchers from the Indian Institute of Technology Madras (IIT-M) at Centre for Research on Start-ups and Risk Financing (CREST) have developed an ‘Intelligence Platform on Government Funding Schemes for Startups’ to boost the startup sector.

Developed and implemented in partnership with YNOS, an IIT-M incubated startup, the government funding platform for startups brings together the entire spectrum of startup 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-M.

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

Amitabh Kant, India’s G20 Sherpa, launched the platform. “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 startups that have benefitted from the scheme, average financial investment received, age of the startup at the time of getting funded, number of founders in the startup and the age of founders at the time of getting financial support”, said Kant.

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.

Published on : 26th October, 2023