Amrita University has won the national award for its Technology Business Incubator (TBI). On May 18, the President of India, Sh. Pranab Mukherjee presented the award to Krishnashree Achuthan, CEO, and Snehal Shetty, COO, of Amrita University’s Technology Business Incubator. The award is for excellence in technology and has been instituted by the Dept. of Science and Technology, Government of India.
The Technology Business Incubator of Amrita University was established in 2008. Being judged No. 1 in India in a short span of 8 years is a testimony to the tradition of all-round excellence at Amrita University. Till now, we have incubated more than 72 startups and mentored 216 startup ideas, with 0% loss from investments.”
Amrita University’s TBI is a joint venture with Dept. of Science & Technology, Govt. of India, and focuses on incubating startups in the areas of Information Technology, Cyber-Security, Networking and Social Media, among others. It has recently established a startup hub aimed at building the next wave of cybersecurity startups in the country.
The Dept. of Science & Technology, Govt. of India had shortlisted six six incubators selected to be made world-class under NITI Aayog’s Atal Innovation Mission (AIM). Amrita University’s TBI is one of them. NITI Aayog CEO Amitabh Kant explained that the objective is to transform the start-up ecosystem in India through financial scale-up support to upgrade them to global standards. Each startup will receive a minimum of INR 10 crore) over a span of two years to provide state-of-the-art facilities to the incubated startups.
Established in 2008, Amrita University’s TBI provides startups a national platform to showcase their ideas/products/services in addition to receiving receive funding on a large scale unlike other TBIs which only cater to regional markets. Till date, Amrita TBI has not incurred any loss from its investments. The Amrita TBI PitchFest, is an annual platform for startups across India to showcase their ideas. Started in 2012, the Pitchefest allows startups to qualify for seed investments in addition to getting incubation space at Amrita University’s Technology Business Incubator.