Oil India Limited in Collaboration with FITT, IIT Delhi Launches DriftTECH To Empower Entrepreneurs

IIT Delhi, FITT with Oil India Limited has developed DriftTECH. This initiative is designed to tackle the evolving obstacles within the deep-technology and energy industries, with aim to catalyze the development and implementation of cutting-edge solutions. Get details here 

The Oil India Limited in collaboration with Foundation for Innovation & Technology Transfer (FITT), Indian Institute of Technology (IIT) Delhi has launched ‘DriftTECH’, a strategically designed programme to address the dynamic challenges in the deep-tech and energy sector. It aims to catalyze the development and implementation of cutting-edge solutions. Participants can apply for DriftTECH till March 31, 2024. The complete details can be check on the FITT website. 

The programme aims to assist startups, which are at the prototype stage or beyond, in developing innovative and impactful solutions for real-world sustainability issues. This will be achieved through a 24-month incubation period that emphasizes physical interaction. It is designed for startups from various sectors that integrate technology and innovation at their core.

Top 10 startups will be offered support from Oil India Limited and FITT, IIT Delhi in these areas: Product Development, Technical and business Mentorship, Access to High-end Lab facilities, GTM Strategy and exploring Product Market Fit, Corporate Industry Connect, Legal & and IPR Support, Angels and VC connect, Global Launch Support, Access to Industry Experts from the Senior Management of Oil India Limited pool.

About FITT, IIT Delhi 

IIT Delhi created the FITT as a special-purpose vehicle to facilitate, research translation, technology development, technology transfer & commercialisation, industry engagement, project management, startup incubation & mentoring, etc. The organisation has supported more than 250 startups and entrepreneurs through various funding and mentoring schemes. FITT is a nodal agency for various government and industry-funded programs for startups and brings extensive experience in startup incubation and program management.

Speaking about the initiative, Prof. Rangan Banerjee, Director, IIT Delhi, said, “We are delighted that Oil India is providing funds for Startups at FITT. We are keen to enhance our innovation ecosystem and support our students, researchers, and faculty to create successful startups that make a societal impact and generate revenue."

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