IIT Kanpur flags off annual startup festival; 2 agreements on financial technology, MedTech research signed

NEW DELHI: Indian Institute of Technology (IIT) Kanpur commenced its annual startup festival ‘Abhivyakti’ on January 17. The first day of the event saw discussions, product launches, and collaborations between leaders, industry experts, academics, and students, the institute said.

Sudatta Mandal, deputy managing director of SIDBI Bank, presented a corpus letter of Rs 5 crore to IIT Kanpur at the event for defence startups. The funding will support defence-centric entrepreneurship and innovation, underscoring the growing importance of India’s startup ecosystem in the defense sector, the institute added.

Manindra Agrawal, director of IIT Kanpur, said: "At IIT Kanpur, we believe that the innovations we drive today will build the India of tomorrow. This festival showcases the power of collaboration and what can be achieved when bright minds come together."

IIT Kanpur Abhivyakti: Highlights

Two agreements were signed at the IIT Kanpur event where one aimed to enhance financial technology solutions, while the other – with the Government Institute of Medical Sciences – focused on collaborative research in MedTech innovations for better healthcare delivery, the institute added.

The technology institute also unveiled a phase change material-based thermal management system, developed by Sri Sivakumar, a professor at IIT Delhi. This newly developed technology will help in improving cold chain logistics by offering superior thermal conductivity for devices such as ice cream storage and food preservation, the institute added.

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Showing support to the small businesses and advanced energy-efficient solutions, the IIT Kanpur director also donated two ice-cream carts, equipped with the system to local vendors.

The annual event also hosted “SIIC-backed startups”, which showed innovative solutions across various industries, the institute added. As part of the annual function, guests toured the booths, engaged with startup teams and discovered cutting-edge products.