IIT Palakkad's non-profit company announces Rs 15L grant for unique tech-based ideas

IIT Palakkad Technology IHub Foundation (IPTIF), a non-profit organisation set up by IIT Palakkad as a platform for tech-based start-ups and entrepreneurs, on Thursday announced a Rs 15 lakh grant for unique ideas in the fields of robotics, machine learning, software engineering and embedded systems.

IPTIF will be providing the grant as a prize to the winner of its workshop-cum-pitch event called 'Aarambh', to be held from October 30 to November 27, applications for which have been invited from start-ups and entrepreneurs.

Applicants are being invited to pitch their unique ideas on Intelligent Collaborative System (ICS) solutions for safety and energy, IPTIF said in a release.

The ideas would be evaluated on the basis of their innovativeness, technical competence, social impact and commercial viability, it said and added that the last date for the pitch event was October 24.

Interested teams can apply from the event website, IPTIF said in the release.

Besides Aarambh, the organisation is also inviting applications for its Entrepreneurs-In-Residence (I-EIR) programme which IPTIF claims will help entrepreneurs to pursue their ventures without any additional risk that is there in technology-based business.

The other features of the programme are: co-working spaces for developing ideas into a marketable product, Rs 30,000 stipend for a duration of 12 months, technical and business mentorship from experienced engineers and entrepreneurs as well as mentorship and handholding, the release said.

Interested individuals/ teams can apply via the following link -- https://tinyurl.com/iEIR2021, it said and added that the last date to apply for the programme was November 1.

''The initial shortlisting of the teams/ individuals will be based on eligibility and suitability of the applicant to the programme. Further evaluation of the shortlisted teams will be based on qualifying criteria such as innovation, deniability of idea, experience, among others.

''Applications from women entrepreneurs, innovators under the age of 30, and innovators with CPS technology business ideas that have considerable potential for social impact, will be given preference in the selection process,'' the release said.

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