MeitY provides Rs 44 lakh grant-in-aid to eight startups of SR Innovation Exchange
The grant was facilitated through TIDE 2.0, an initiative of Ministry of Electronics and Information Technology(MeitY)
Warangal Urban: A total of Rs 44 lakh was disbursed to entrepreneurs and student innovators under the Technology Business Incubation TIDE 2.0 MeitY Scheme by Technology Business Incubator SR Innovation Exchange (SRiX), Warangal, here on Thursday.
Speaking on the occasion, Dr G R C Reddy, Vice-Chancellor, SR University, said the grant was facilitated through TIDE 2.0, an initiative of Ministry of Electronics and Information Technology(MeitY), under the MeitY Startup Hub to promote tech entrepreneurship through financial and technical support to incubators engaged in supporting ICT startups primarily engaged in using emerging technologies such as IoT, AI, Block-chain, Robotics etc., in pre-identified areas of societal relevance.
“It’s exhilarating to listen to these bright innovators, TIDE grant will provide the initial ignition needed for them to develop a market ready product. Their presence on the campus makes academics vibrant providing an opportunity for our students and faculty to associate with these young innovators and entrepreneurs” he added.
Venkata Simhadri, CEO of Moschip Technology, congratulated the start-ups for their innovations and the receipt of the grant from MeitY.
In his address, Venkata emphasized the thrust on “ Make in India” and “Atmanirbhar Bharat” and encouraged the entrepreneurs to focus on developing technologies and products that can replace imported goods and appreciated the efforts of SR university.
“SRiX provides product designing, prototyping and testing infrastructure support for startups, our state of the art precision component manufacturing capabilities ensure that any innovator who is keen on the accuracy, precision of metal works don’t go empty-handed. CNC Lathe, CNC milling machines, Laser cutting the machine is available for innovators to get their products manufactured. Pioneer brands in 3d printing like Markforged, Ultimaker are available in SRiX, Makerspace for innovators. The whole gamut of power tools; chop saw, mitre saw, sanders, grinding to name a few are available,” said Sreedevi Devireddy, CEO of SRiX.
Sharing the details on the technologies these start-ups are working on, Sreedevi said, it is quite diverse from mixed reality, AI/ML & Data Analytics, BlockChain, Internet of Things (IoT) to drone technology. “We are pleased to announce that six startups have women co-founders and three of the winners are student start-ups of Warangal region,” she added.
Dr Archana Reddy, Registrar, SRU, Dr V Mahesh, Dean-School of Engineering, SRU, Dr Vishnu Vardhan Reddy, Dean-School of Agriculture, SRU, Col B S Rao, Dean-School of Business, SRU, and faculty members attended the programme.
The recipients of the grant are: Varaha Innovation Studios and Technologies, Youcode intelligence Solutions, Oakmont RSM Info Solutions, Viben QR Innovations, Garudaastra Aeroinventive Solutions, Cloudchip Technologies, MHFICTIO Creations and Gryptrx Solutions.
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