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Newsletter - April 2016
Technology Startups @IITM
IITM Incubation Ecosystem
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Ranked #1 engineering college in India, IIT-Madras is now home to 98 Tech Startups, incubated at IITMICRTBI and BI. 23 companies have graduated, with many having raised angel/VC investment and/or achieved sustained revenue growth (Details: see previous issue of the Newsletter).
HIGHLIGHTS
> Ather Energy unveils first 'Made In India' smart electric scooter 'S340' 
> Umesh Sachdev, co-founder CEO of Uniphore, chosen among India's Top 8 innovators under 35 in 2016
> Uniphore recognized amongst India's Top 20 Emerging Global Companies by London & Partners
> Stellapps Technologies among the top 26 key market players globally in Dairy Tech sector, says Grant Thornton 2015 Report
> Kalyan Vaidyanathan, founder CEO of  Nadhi wins the CIDC Vishwakarma Award 2016 by Construction Industry Development Council
> Ministry Of Shipping & Invest India Announce Finalists Of MIS 2016 - DP Prize Startup Contest > Planys wins 2nd position
> Qarth Technologies which runs a mobile payments app called 'XPay' has been acquired by Ola
> Enability wins the Nina Saxena Excellence in Technology Award 2015 instituted by IIT-Kharagpur for iGest, an intelligent gesture recognition device for persons with motor and speech impairments
DeTect Technologies wins 2nd place out of 100 startups nationwide at The Global Student Entrepreneur Awards 2016
E V E N T S                                                                                                Read more .....
  • IITMIC Co-sponsored E-Summit 2016, including Startup Bootcamp hosted by RTBI & E-Cell (1-3 April'16) at IITM
  • Think Like a Start-up series – to encourage budding entrepreneurs through interaction with startups, Mentors and incubators - hosted by IITMIC and RTBI (in association with E-CELL, CSIE)  (3 sessions: Feb & March’16). Topics discussed: 1. Start-up Now or Later? 2. How to find the right co-founder? 3. How to find the right Mentors? Read more
  • IITM Start-up Mixer (16 Mar'16): A bimonthly event hosted in partnership with IITMEF mentors, RTBI & BI. Intended as an extension of formal mentoring clinics at IITMIC, 'Mixer' is a platform for IITM Incubatees & Nirmaan students to expand their mentor network & discuss new perspectives with alumni/industry/startups. (Next Mixer: 18th May'16)
  • Tech Saloon – Monthly talks by innovators / Entrepreneurs (Feb - April 16) : ‘Higgs Boson, Innovation at IITMIC (Docsapp & Planys), Saloni Malhotra’

M I L E S T O N E S

> Industry (CSR) donation to IITMIC: INR 2.56 cr 
(Cholamandalam Finance, Goldman Sachs, Titan, ANSYS & Banca Sella)
> Seed fund to IITM incubatees:
- Startup Fund (alumni donations): ~ INR 2 crore given as seed grants to 31 incubatees (₹5-10 lakh
-  RTBI / IITMIC accelerator funds (supported by GoI & CSR):  ~ INR 4 cr invested --> 24 companies funded ₹15-25 lakh each

IITM incubated Startups raise Angel and VC investment:

-
Cygni Energy:  INR 2 crore
- Airwood: INR 4 crore in seed series
- Planys Technologies: INR 1.75 crore from Keiretsu Forum Chennai & Singapore Chapters
Ather Energy: $12M from Tiger Global
- Hyperverge: $1M as Seed Series from NEA Milliways & NayaVentures
- Uniphore: Series A investment from Kris Gopalakrishnan & existing investors
- Myeasydocs: $1M in Series A
- Stellapps: Series A from Omnivore Partners
- Swadha Energies, Gyan Data, Skillveri, Edsix Labs & Greenvironment raises Angel investments
I N   T H E   N E W S  (Mar-Apr 2016)
The Hindu Business Line  A ‘ROVer’ of a different kind, this > Planys, cofounders and debutant product: 'Mike' underwater robot for immersed structure inspection featured
The New Indian Express Time for Check-up? Try Start-up App for 'Direct' Doctor's Consultation >  Now, a Healthcare Platform to Consult a Doctor on the Go > IITMIC company DocsApp featured
The Hindu Business Line IITMIC alumni Mentors (IITMEF) featured: S Gopal > and Dr Srikanth Rajan > 

CB Insights 24 Mar 2016 56 Startups Making Cities Smarter Across Traffic, Waste, Energy, Water Usage, and More > Ather Energy is one of the top 55 companies listed. 
Times of India 30 Mar 2016 Fitness trackers give voice to speechless > Enability's iGest featured
Times of India Use Nanotechnology to help people > Prof T Pradeep, founder of IITM startup Innonano featured (facebook
Stellapps entered African Dairy market in January 2016. It has also signed a deal with “SmartDairy” based out of Netherlands to set up automated farms in Kenya.  
Prof Ashok Jhunjhunwala, Faculty-in-charge & Co-chairman, IITMIC, RTBI & IITMRP conferred Eminent Engineer Award 2016 under the Research and Consultancy category by the Engineering Council of India
From an IoT device to automated refrigerators, this startup builds innovative products for large corporations > RTBI incubatee, Growtech featured
INCUBATION SUPPORT
Upon admission incubatees offered shared office space & infra at IITMRP on case-by-case assessment basis. Basket of Support & Services is available to incubatees including access to seed funds and MENTORING (IITMEF alumni mentors & industry heads).
Apply for Incubation at IITMIC: link | RTBIlink | Bioincubatorlink
@IITMIC
/IITMadrasIncubation
Website
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Our mailing address is:
IITMIC: office@incubation.iitm.ac.in
RTBI: info@rtbi.in
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