IIIT firm to distribute seed fund to start-ups
The Hindu
Foundation to give innovative start-ups financial assistance up to ₹50 lakh
In a significant achievement, AIC IIIT Kottayam Foundation, a primary incubation company of the Indian Institute of Information Technology here, has been selected by StartupIndia for distribution of seed funds to early stage start-ups.
Under the scheme, the foundation can support innovative start-ups, which will be eligible for a financial assistance up to ₹50 lakh or more, based on an evaluation by a special committee. The fund will support an estimated 55 start-ups over the next couple of years.
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