UPES Runway Receives INR 4.90 Crore Grant to Promote Inclusive Tech Startups

UPES will contribute INR 1.02 crore, while DST will provide INR 3.88 crore for setting up an Inclusive Tech Startup incubator.

UPES Runway Incubator receives a grant for the development and operation of an inclusive technology business incubator (i-TBI) from the Department of Science and Technology (DST). The grant was received under the National Initiative for Developing and Harnessing the Innovation (NIDHI) inclusive TBI (iTBI) scheme. The UPES will grant INR 1.02 crore while DST will grant INR 3.88 crore for setting up the incubator.  

Incubator to Aid Startups in Deep Technology

This incubator will deliver exhaustive support and aid to startups specialising in deep technology. Further, the incubator aims to focus on Artificial Intelligence (AI) and Machine Learning (ML), Sustainability, and AgriTech. UPES i-TBI will focus on pioneering concepts which intersect social, economic, and developmental challenges with technology. It will offer required training, financial support and guidance to empower to develop scalable solutions. Additionally, the startups incubated under UPES-Runway-iTBI will also offer a seed support grant to fuel their growth and development once they are incubated.

“Fostering a healthy startup environment, and enabling innovation and growth for aspiring entrepreneurs has always been our priority. There is a huge untapped potential which can shape the entrepreneurial landscape, boost the economy and address the country’s biggest challenges. This is a concerted effort to empower budding entrepreneurs and innovators to translate their ideas into disruptive businesses, all while developing a robust skillset that blends business acumen with technical know-how,” said Rahul Nainwal, CEO of Runway Incubator.

First Cohort from June 1, 2024

The first cohort of applications for UPES-Runway-iTBI will begin on June 01, 2024. This process aims to incubate at least 30 start-ups at a time and offer state-of-the-art facilities like labs, ‘Design, Dies & Development (3D)’ rooms, co-working space and recreational facilities.

The i-TBI initiative by DST supports is aligned with Atmanirbhar Bharat Mission by covering all 5 I’s - Intent, Inclusion, Investment, Infrastructure, and Innovation.  

UPES Runway Incubator, ever since its existence, has supported over 250 startups across diverse sectors such as Ed-tech, D2C, Fintech, AI/ML, Social Impact, Healthcare, Biotech, Fashion and Lifestyle, and Sustainability. 

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