SRM University-AP launches fellowship to foster start-ups

SRM University-AP on Friday launched the Elon Fellowship aimed at fostering entrepreneurship among students by creating a start-up eco system.

Selected venture groups would get internal funding of up to Rs 50 lakh and external funding of Rs one crore each for the project development, a university release here said.

Under the Fellowship, over 60 venture teams would be provided a four-month extensive training to transform their ideas into prototypes and beyond.

SRM AP Vice-Chancellor Manj K Arora said on the occasion that the Fellowship would open new avenues in entrepreneurship and innovation.

“It provides students with a well-funded scheme that facilitates fruitful development of their creative ventures,” Arora said.

SRM associate director (Entrepreneurship) Udayan Bakshi said more than seven portfolio start-ups of their university crossed a total annual revenue of Rs 25 crore.

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