ISB’s DLabs gets Rs 5 crore funding
Hyderabad: The DLabs Incubator of Indian School of Business (ISB) has been awarded Rs 5 crore under the government of India’s Startup India Seed Fund Scheme. The scheme set up by the Department for Promotion of Industry and Internal Trade (DPIIT) enables startups to raise investments or seek loans. Under this scheme, DLabs Incubator Association will facilitate the allotment of seed funds to eligible early-stage startups.
The funds will be used for financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. Many innovative business ideas fail to take off due to the absence of this critical capital required at an early stage. Seed funds offered to such promising cases can have a multiplier effect in validating the business ideas of many startups, leading to employment generation.
Professor Bhagwan Chowdhry, faculty director, ISB DLabs, said, “Many good ideas don’t see the light of the day because they could not get early-stage funding. This grant will help us fix it”.
Supported by the Department of Science and Technology, Government of India, DLabs at ISB hosts a state-of-the-art space for entrepreneurs to interact, engage and collaborate with mentors, investors, and academia.
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