The Center for Innovation and Entrepreneurship (CIE) at IIIT-Hyderabad has announced the acceptance of four firms into the 14th cohort of the Avishkar Deep Tech accelerator.
The screening committee chose four businesses for the programme from a large pool of 150 applications.
According to a press statement issued here on Wednesday, the accelerator provides IIITH with research help, business mentorship, market access, and startup money of Rs 40 lakh.
Avishkar is a 6-month cohort-based accelerator programme run in collaboration by CIE, IIIT Hyderabad, Co-creation Consulting, and SucSeed Innovation Fund. It combines the deep-tech knowledge of IIITH’s research laboratories with the chance to engage inside the IIITH Foundation’s ecosystem while receiving in-depth business mentorship from Co-creation consultancy and investor contacts from SucSEED Indovation Fund.
Speaking on the occasion, Prof Ramesh Loganathan, COO CIE-IIITH said “Connecting research with startups is a key need to help realize deep-tech innovation that can succeed in the markets. Happy to see yet another cohort of Avishkar commencing”, he added.
The programme focuses on polishing the businesses’ business plan, team, and overall strategy, as well as making the firms ready for corporate financing. It supports the startup’s transition from seed to VC/Angel ready.
Hirex.ai, a cognitive voice-bot solution for automated hiring interviews, CometLabs, an AI-powered solution for hiring deeptech developers through competitive development events and bootcamps, Embedsense, an industrial IoT company providing remote monitoring, process optimization, and predictive maintenance in a moulding manufacturing setup, and WebNyay, an online dispute resolution ecosystem end-to-end digital platform for the resolution of complaints, are among the startups in this cohort.
Avishkar has allowed a number of alumni Avishkar enterprises that have now obtained external VC capital during the last six years. They are Revos (USD 4 million), Instoried (USD 8 million), Scholr (Acquired by India’s Edtech behemoth, Byju’s), and Paymatrix (Acquired by Muthoot), among others, according to the statement.