The NIRMAN Accelerator Program is being launched by the Startup Incubation and Innovation Centre (SIIC) – the technology company incubator of IIT Kanpur with support from the department of science and technology, the Indian government.
The initiative will concentrate on manufacturing companies working in the healthcare and agricultural sectors to assist them in overcoming difficulties encountered along the journey from prototype to market.
Under the initiative, 15 startups will be chosen in total. They will have the chance to hasten the transition of their product from the lab to the marketplace. A cash prize of up to 10 Lakh will be given to the 15 startups in the cohort with the greatest performance.
Prof. Amitabha Bandyopadhyay, professor-in-charge, Innovation and Incubation, IIT Kanpur, responded to the program’s establishment by stating that “Our country has been facing enormous hurdles in the area of manufacturing. We need innovators and businesspeople working in the healthcare and agriculture sectors immediately if we are to address some of the pertinent developmental challenges and improve the status of manufacturing in India. I believe there is a lot of room for the NIRMAN Accelerator Program to use and profit from entrepreneurs working in the industry”.
The CEO of AIIDE and the Foundation for Innovation & Research in Science & Technology (FIRST- IITK), Nikhil Agarwal, stated that “SIIC has a wealth of expertise working with startups and prospective innovators to maximize societal impact. By working together, the department of science and technology hopes to revitalize the nation’s industrial sector. The initiative will undoubtedly inspire entrepreneurs to pursue manufacturing with the same zeal and fervor as SaaS, AI/ML. I encourage more startups to apply”.
The six-month program will be divided into four sections: leading to next-stage growth, engineering acceleration, resolving the compliance conundrum, and principles of product growth. The program will provide informational workshops, individualized mentorship support, in-depth tailored support for clinical validation, and links to businesses and investors. Applications for the program are already being accepted, and it will continue till August 5, 2022.