Amrita University’s Technology Business Incubator to Invest $350,000 in Five Startups
BENGALURU / February 8, 2017 – Amrita University’s Technology Business Incubator (TBI) has committed $350,000 in seed funding for five promising start-ups, which were shortlisted out of 720 startups from across the country which participated in the fifth edition of annual PitchFest organized by it. The five winning startups are Cookifi, Swasti Agro & Bioproducts, Bizbee, Nextsky Technologies,and Miqasa Home Automation.
Said Dr. Krishnashree Achuthan, CEO of Amrita University’s Technology Business Incubator (TBI): “We hold a PitchFest every year to support the Government’s ambitious ‘Startup India, Standup India’ action plan. This year, we increased the total funding outlay from USD 200,000 to USD 350,000 considering the high quality of start-ups that made it to the Top 30 list out of 720 startups which applied for the PitchFest. The quality of starts-ups which participated this year has been amazing even though the startup climate is a bit dampened currently.”
Out of the 720 startups which applied, the Top-30 startups were shortlisted and invited to pitch on Day-1 of the PitchFest. The Top-13 startups were shortlisted for Day-2. Finally, the Top-5 startups were selected for funding by Amrita University.
The NITI Aayog CEO Amitabh Kant addressed the participants through video-conferencing.
The 2017 Amrita TBI PitchFest Winners
Twostart-ups, Iotranic and HappyOffice, got SpecialMention Awards at the event. Iotranic helps hospitals provide personalizedmaternal care by solutions to address the different needs of pregnant women inurban and rural markets. HapyyOffice is an automated smart employee feedbacksystem that allows you to take real-time action for improving employeeengagement and retention in less than 5 minutes a month.
Anotherstartup, AmbuPod got Sector Impact Award. It operateslow-cost, quality-based and easily-accessible micro ambulance and mobileclinic, which has been built to take healthcare into remote areas of India.
AmritaUniversity’s Technology Business Incubator has grown to be amongst the top-fivemost prolific start-up incubators in India due to its commitment to promoteground-up innovation, creativity and entrepreneurship.