IIT Mandi Catalyst to disseminate INR 2 Cr among 9 selected startups

ⓘ Featured Image: Dr. Puran Singh, Faculty-in-charge at IIT Mandi Catalyst; Credits: LinkedIn

The first technology incubator in Himachal Pradesh, India, IIT Mandi Catalyst has recently selected 9 startups to disburse INR 2 crores under the NIDHI Seed Support System Programme of the Department of Science and Technology (DST). The NIDHI programme aims to provide financial support promising ideas. Selected startups will have to spend 3-month period in residency at IIT Mandi to show their ideas.

Last year, IIT Mandi Catalyst was awarded the NIDHI Seed Support System programmed under which total funding of INR 10 Crore was provided for the commercialisation of startups. In August 2019, IIT Mandi Catalyst announced that it would distribute the funding in coming 5 years in a phased manner.

Talking about the selected startups, Dr. Puran Singh, Faculty-in-charge at IIT Mandi Catalyst, in a press statement quoted,

“These startups have been with us for anywhere between six months to about three years. They have benefitted from valuable technical mentoring from faculty and business inputs from industry mentors. They are ready to scale up. I wish them the best. There are many more startups in the pipeline that are building their product and maybe funded soon.”

Listed below are the 9 startups selected by IIT Mandi Catalyst, out of which 5 startups are from the Himalayan region. IIT Mandi Catalyst will deploy INR 90,00,000 among these 5 Himalayan startups alone.