Startup news and updates: daily roundup (December 4, 2023)

Funding news

IN-SPACe announces seed fund scheme for startups

The Indian National Space Promotion and Authorisation Centre (IN-SPACe) announced a seed fund scheme for startups leveraging space technology in urban development and disaster management.

In collaboration with the National Remote Sensing Centre (NRSC) of ISRO, the scheme aims to provide opportunities for non-government entities that leverage space technology for societal benefits to graduate to the next level. 

Under the scheme, chosen startups will be granted seed funding to evolve an original idea into a prototype using space technology. They will also receive ISRO facility support, including Earth Observation (EO) data for concept validation, mentorship, and access to data algorithms as a technology transfer from the Department of Space.

The scheme includes the provision of offering financial assistance of up to Rs 1 crore, coupled with mentorship support, training, and networking opportunities.

Startup India, Avaana Climate and Sustainability Fund launch climate tech programme

Avaana Climate and Sustainability Fund, an early-stage VC investing in technology-led climate startups, has partnered with Startup India to launch the Grand Challenge for ClimateTech Innovation.

This initiative seeks to identify and support entrepreneurs, offering a platform for the climate tech industry to collaborate and pave the way for a net-zero transition

Winners will not only receive monetary prizes but will also gain access to mentorship from industry leaders and exposure to opportunities with influential stakeholders. 

“These startups are envisioned as pioneers, ready to assume leadership roles in groundbreaking technologies aimed at effectively addressing environmental challenges. We hope that startups embrace this opportunity and leverage it to make a meaningful difference,” Aastha Grover, Vice President of Startup India said.

Other news

KRAFTON India announces BGMI update featuring Ranveer Singh

KRAFTON India's BATTLEGROUNDS MOBILE INDIA (BGMI) 2.9 has introduced Ranveer Singh as the brand ambassador for the title and as a playable character, enabling BGMI users to immerse themselves in the “charismatic aura” of the star within the game.

The update introduces the Ranveer Singh discovery event, the Ranveer Singh crate, and a Play and Win event, enabling players to win rewards that capture the essence of the star. The collaboration also introduces emotes inspired by the actor’s popular dance moves and his voice pack, among other exciting updates.

“We are thrilled to welcome Bollywood sensation superstar Ranveer Singh into the BGMI BATTLEGROUNDS and provide players with a truly immersive experience like never before. The introduction of Ranveer Singh’s essence in the game with this extensive collaboration represents our commitment to localising content for the Indian audience and creating moments that resonate culturally with our diverse player base,” Sean Hyunil Sohn, CEO of Krafton India, said.

Amazon Future Engineer to introduce advanced coding, AI modules in 100 KREIS schools

Amazon India has expanded the Amazon Future Engineer (AFE) programme, introducing advanced coding and artificial intelligence (AI) modules in 100 Karnataka Residential Educational Institutions Society (KREIS) Schools.

The company will also provide digital infrastructure enhancements for 30 KREIS Schools. This expansion will impact over 13,000 students in grades six to eight across 30 districts of Karnataka, Amazon said.

The enhanced module empowers students to create intricate computer applications, integrating advanced programming concepts such as control conditions, variables, and functions. Furthermore, through project-based learning, students will gain an introduction to the fundamentals of AI.

This initiative is implemented in collaboration with the Learning Links Foundation, which will conduct introductory coding sessions and grade-appropriate coding boot camps for students in person.

In 2021, Amazon launched AFE, a computer science education programme in India, collaborating with various education-focused non-profit organisations. So far, AFE has supported more than 1.5 million students and trained over 8,000 teachers across the country.

GradRight commits affordable access to top 500 global universities for 3 lakh Indian students

Ed-fintech company GradRight has committed to providing affordable access to the world’s top 500 universities for 300,000 Indian students over the next three years, at its ShiftED 2023 Conclave.

“Access to the right education at the right cost has been a singular challenge plaguing the Indian and global higher education space,” Aman Singh and Sasidhar Sista, Co-founders of GradRight, said.

“ShiftED is a showcase of our proposition for students, universities, and financing institutions, and marks the start of a movement that has the potential to shape the future of global higher education,” the duo added.

ShiftED hosted leaders of 16 US universities and over 30 Indian institutions, with over 2,000 students in attendance.

GradRight, founded in 2019 by Singh and Sista, brings together students, universities, and banks to make higher education more accessible and affordable for low and middle-income students by leveraging AI, ML, and community. Over the past two years, GradRight claims to have processed loan requests of over Rs 16,000 crore and assisted over 60,000 students.

Elsevier appoints Sandeep Sancheti as VP of Research Relations and Academic Ambassador

Elsevier, a scientific information and data analytics firm, has appointed Professor Sandeep Sancheti as Vice President of Research Relations and Academic Ambassador for India.

In his new capacity at Elsevier, Sancheti will strengthen the company’s network among academic leaders and funders across India.

Sancheti, with a long-standing career spanning over 40 years, is recognised for his leadership roles in esteemed organisations such as the Association of Indian Universities; Manipal University, Jaipur; NIT New Delhi; NIT Tiruchirappalli; NIT Calicut; and School of Planning and Architecture, Delhi.

Beyond administrative excellence, Sancheti is a distinguished researcher, contributing significantly to the field with over 80 research papers in national and international journals.

(This article will be updated with the latest news throughout the day.)