The Indian Institute of Information Technology (IIIT), Shree City has selected six start-ups in various fields for grant to pursue their ideas.
The institute has a technology business incubator to promote innovation and entrepreneurship.
A start-up using artificial intelligence to develop an intravenous drip system for centralized monitoring and automatic closure of intravenous fluid; A start up using IoT to develop smart green charging solutions for Li-ion battery devices; Introducing an aquaculture using an IoT smart monitoring system for feeding and monitoring aqua farms; A healthcare start-up using machine learning to develop an intelligent wearable device to maintain and maintain human posture; Environmentally based start-ups are a start-up beneficiary using IoT to develop an indoor air quality monitoring and purification system using hybrid green technology and an advanced soil monitoring and crop management system.
The director of the institute ji. Kannabiran said that 30 applications were received and evaluated in 30 stages based on the ability to develop a minimum viable product within a year.
Selected start-ups were taking advantage of emerging technologies to develop solutions. Each start-up will be mentored by a team of ₹ 7 lakh, product development support, domain experts and business consultants. He said that the beneficiaries would be negotiated with 200 companies located on the campus.
Chairman of the Board of Governors of the Institute. Balasubramanian handed over the grant documents on Saturday. He stated that the start-up ecosystem had seen tremendous growth during COVID-19. 44% of the deals signed by Indian companies are from start-ups.
“The number of innovations has increased so much that in six months the total number of innovations over three years has been achieved. I am confident that the selected start-ups will grow up to become units of the country. We will add start-ups funded by Knowledge Circle Ventures to various funding opportunities through venture capitalists and angel investors, ”he said.