MeitY-backed GAIN launches graduation, startup showcase under StartupToScaleup programme
‘StartupToScaleup’ is the first-ever accelerator programme from MeitY that supports startups that graduated from ‘Technology Incubation and Development of Entrepreneurs (TIDE)’ and Center of Excellence (CoE) schemes.
Global startup accelerator recently announced the ‘graduation come startup showcase’ for its ‘StartupToScaleup’ Cohort I and II. The GAIN helps emerging tech startups to scale globally by providing access to funding, business, and active mentoring.
‘StartupToScaleup’ is the first-ever accelerator programme from the Ministry of Electronics and IT (MeitY), Government of India to support startups that graduated from ‘Technology Incubation and Development of Entrepreneurs (TIDE)’ and Center of Excellence (CoE) schemes to help these startups to scale up globally.
The accelerator had 26 startups graduating from both cohorts. The 13 early-stage startups graduating from Cohort I include six edtech startups (Avidia Labs, Extra edge Technology, Herazien Technologies, Jpnme, Makerinme, Skaas), and seven healthtech startups (AarogayAI, Ayurythm, Bionic Hope, Heamac, Kallows, Pacify Medical).
In cohort II, they had 13 early to early growth stage startups from the following sectors: three from agritech (Borlaug Web Services, Whrrl, Piatrika), five from fintech (Hesa, Nvest, PayNearby, Fairexpay, Whatsloan), and four from Industry 4.0 (Exact space, LivNSense, Minto.ai, Doppelio).
During the startup showcase and investor pitch, 70+ investors confirmed their interest over email.
These include a few venture capitalists with unicorns in their portfolio of startup investments. The cohort II startups looking to raise funds from the fintech sector include Hesa Global ($12 million), Nearby Technologies ($11.5 million), and WhatsLoan ($1 million). Agritech startups include Borlaug Web Services ($6 million) and Piatrika Biosystems ($3 million). Industry 4.0 startups include: LivNsense ($3.5 million), Doppelio ($1 million), and Exact Space ($1 million). Investors interested in connecting with the startups can reach out to Carl Ebenezer P who takes care of investor relations and partnership at The GAIN.
Speaking at the event Dr Ajai Garg, Senior Director of Ministry of Electronics and IT (MeitY), Government of India said,
“What we need today is change the mindset on how do we see markets, not only global markets but domestic markets as well, how we can create markets for the startups through government procurements of innovation from startups, and also how corporations connect with startups and see their future growth in partnership with startups”.
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Edited by Kanishk Singh