Four student-led startups named Circle, Bag-It, Onpery and I-Stem receive Rs 50 lakh grant from IIT Delhi's endowment nurture fund initiative.
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Ishita Ranganath | November 16, 2022 | 04:39 PM IST
NEW DELHI: Four student-led startups from the Indian Institute of Technology (IIT) Delhi win grants worth Rs 50 lakh each. Startups named Circle, Bag-It, Onpery and I-Stem benefit from the Institute's endowment nurture fund initiative.
According to the IITD website, The endowment nurture fund aims to offer graduating students with an opportunity to be awarded seed funding for proposed ventures, encouraging them to embark on developing and nurturing their entrepreneurial ideas and aspirations, rather than seeking job placement.
The four startup companies to receive the grants are-
IIT Delhi alumni Indifi Tech, co-founder and CEO, Alok Mittal; Stellaris Venture Partners, partner, Alok Goyal and Athera Venture Partners, general partner, Parag Dhol were the members of the jury that selected the winners.
While speaking about this great initiative to promote entrepreneurship, IIT Delhi Endowment Management Foundation, CEO, Anurag Rastogi said: “The grant provides a cushion to IIT Delhi's student teams to take risk and experiment with innovative ideas, products, and/or business models; that in turn helps spread the culture of innovation and entrepreneurship among the student community."
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