KL Deemed Univ. Hosts Startup Funding Event
New Delhi, June 2024: ACIC-KL Startup Foundation of KL Deemed to be University recently hosted the ‘Future Forge Startup Mahotsav,’ marking a significant moment in India’s innovation and entrepreneurship journey. This event celebrated the allocation of funds to startups shortlisted from the Startup India Seed Fund, AICTE Yukti winners, and the Grassroot Innovators Fund. A total of INR 45 lakhs was distributed to these promising startups, supporting their growth and development.
KL University’s Future Forge Startup Mahotsav is a collaborative effort to nurture the startup ecosystem in India. By providing financial support and encouraging a culture of innovation, the event presented the commitment to driving entrepreneurial success in the country.
Startups from various locations, including Vizag (Ciaan Cyber Tech Private Limited), Pune (Happy Parent Lab Private Limited), and Bareilly (Wuelev8 Innovation Service Private Limited), received support from the Startup India Seed Fund. Grassroots Innovators Ideathon winners included Tarani Adhya Agro Pvt Ltd, Saida Wind Power Solutions Private Limited, and Aerogen Solutions. Holesoles, part of ABTechVille, uses IoT to address drainage system issues, offering real-time solutions for startups, students, and corporations, thereby enhancing technical skills.
While distributing the awards, Dr. G. Pardha Saradhi Varma, Vice Chancellor of KL Deemed to be University, highlighted the significance of the event, stating, “The Future Forge Startup Mahotsav exemplifies our commitment to nurturing innovation and entrepreneurship among young minds. By providing the necessary resources and support, we aim to empower startups to achieve their full potential and drive economic growth. This initiative is a testament to our dedication to creating a thriving ecosystem for future entrepreneurs.”
Several startups expressed their gratitude for the funding. “This support is crucial for our growth. It not only provides us with the financial resources we need but also validates our efforts and motivates us to push forward,” said one of the beneficiaries.
One standout recipient, Wuelev8 Innovations, was recognized for its innovative approach to addressing the talent gap in the industry. Using AI-based gamification, hackathons, and open innovation challenges, Wuelev8 Innovations nurtures skills, matches job seekers with opportunities, and helps industries find fresh, collaborative talent to solve their problems. Another notable startup, CIIAN Cybertech, is advancing in the field of AI Blockchain Powered Data Privacy solutions. Its focus on cutting-edge technology ensures that data privacy is a top priority in today’s digital age.
The ACIC-KL Startup Foundation continues to conduct various programs throughout the year to support and nurture startups, further strengthening the ecosystem. Mr. Ramankanth, CEO of ACIC-KL Startup Foundation, along with the staff, ensures an effective selection process and prudent utilization of funds.
KL Deemed University is dedicated to facilitating an environment that promotes innovation and provides the necessary support for startups to thrive. The evaluation process ensures that the most promising startups receive the resources they need to succeed.
Future Forge Startup Mahostava, a national-wide event organized by ACIC KL Startups Foundation in collaboration with KL (Deemed to be) University, stands as a beacon of support for startups across India. This innovative platform aims to provide financial backing to startups meticulously shortlisted through the Startup India Scheme, Yukti scheme, and Seed Fund Scheme after a rigorous process of application, scrutiny, panel evaluation, and shortlisting.
The journey to selecting the most promising startups was no easy feat, with a staggering number of over 400 applications pouring in from every corner of the nation. The event’s organizing committee faced the daunting task of sifting through this pool of talent to identify the crème de la crème.
“Future Forge Startup Mahostava is more than just an event; it’s a testament to the incredible potential and spirit of innovation that thrives within our startup ecosystem,” remarked Mr. V. Ramanakanth , CEO of ACIC KL Startups Foundation. “Through meticulous scrutiny and rigorous evaluation, we’ve identified startups that not only demonstrate innovative prowess but also hold the promise of making a significant impact on society.”
The event’s association with KL (Deemed to be) University adds a unique dimension, bridging the gap between academia and industry to foster a culture of innovation and entrepreneurship. By providing a platform for startups to showcase their ideas and receive financial support, Future Forge Startup Mahostava paves the way for the next generation of pioneers in the startup landscape.
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