SRM encourages student entrepreneurs through newly launched programme

Currently, seven students and alumni companies are incubated in this centre and more than 20 student start-ups are in the pre-incubation stage. The centre facilitates entrepreneurship among the student community and creates an ecosystem that supports the budding student start-ups to commercialise their ideas.

The SIIC has trained faculty members in multiple disciplines as resident mentors for technical and business support. Through the institutional funding and DST funded NewGen IEDC, SRM will be providing seed grants to 10 student start-ups this year. SRMRIST will invest a tune of Rs 30 lakh a year through the centre to develop supportive infrastructure and environment for the young start up community.

In the first quarter of 2019, 80 start-ups have applied for this funding support. The centre identified the needs of these start-ups and has allocated seed grant for four student start-ups for the first quarter.

The companies Sure Local, Rizel Automotive, Monkwish and Mithril Energy have secured the seed funding of Rs 2.5 lakh each for prototype development and market validation of their product.

Along with this, a faculty start up StemOnc, working on development of customised drugs for Lung and colon cancer, were also given a grant of Rs 2.5 Lakh by SIIC.

The grants for these teams were distributed during the recent advisory board meeting. Dr Sandeep Sancheti, Vice Chancellor handed over the cheques along with Dr Naveen Vasishta, Director of DST, Dr SB S areen, Project Director and Co-Member Secretary of DST and Dr Muthamizhchelvan, Director (Engineering and Technology).

Furthermore, the centre is also open for students across other institutions to apply for seed grants for prototyping their innovative product ideas.