by Ahmedabad, India – CIIE.CO, the Center for Innovation, Incubation and Entrepreneurship at IIM Ahmedabad, and SIDBI, the Small Industries Development Bank of India, have collaborated to launch a Rs 40 crore pre-seed fund for deeptech startups.
The fund is called the CIIE.CO-SIDBI Deeptech Fund will invest in early-stage deeptech startups that are developing innovative solutions in areas such as artificial intelligence, machine learning, robotics, and quantum computing. The fund will provide startups with capital, mentorship, and access to SIDBI’s network of corporate partners.
“We are excited to partner with SIDBI to launch the CIIE.CO-SIDBI Deeptech Fund,” said Nirav Mehta, CEO, CIIE.CO. “This fund will help us to support the growth of deeptech startups in India and help them to solve some of the most pressing challenges facing the world.”
“We are committed to supporting the growth of deeptech startups in India,” said Vikram Akula, Managing Director, SIDBI. “The CIIE.CO-SIDBI Deeptech Fund will provide startups with the resources they need to scale their businesses and make a positive impact on the world.”
The CIIE.CO-SIDBI Deeptech Fund will invest in startups that are at the pre-seed or seed stage. The fund will invest between Rs 25 lakh and Rs 50 lakh in each startup. The fund will also provide startups with mentorship from CIIE.CO’s team of experts and access to SIDBI’s network of corporate partners.
The CIIE.CO-SIDBI Deeptech Fund is open to startups from all over India. Applications for the fund will be accepted from [Date] to [Date]. To apply, please visit the CIIE.CO website.
Key takeaways from the story:
- CIIE.CO and SIDBI have collaborated to launch a Rs 40 crore pre-seed fund for deeptech startups.
- The fund will invest in startups that are developing innovative solutions in areas such as artificial intelligence, machine learning, robotics, and quantum computing.
- The fund will provide startups with capital, mentorship, and access to SIDBI’s network of corporate partners.
- The CIIE.CO-SIDBI Deeptech Fund is open to startups from all over India.
Implications of the story:
The launch of the CIIE.CO-SIDBI Deeptech Fund is a sign of the growing interest in deeptech startups in India. The fund is likely to attract some of the best early-stage deeptech startups in the country. It will also help to raise awareness of the potential of deeptech technologies.
The CIIE.CO-SIDBI Deeptech Fund is also likely to have a positive impact on the Indian startup ecosystem. The fund will provide startups with access to resources and support that they may not otherwise have. It will also help to connect startups with potential investors and partners.
The launch of the CIIE.CO-SIDBI Deeptech Fund is a positive development for the deeptech sector in India. The fund is likely to help to accelerate the growth of the sector in India and around the world.
