AIC-Pinnacle incubator to get ₹45 million grant:
AIC (Atal Incubation Centre)-Pinnacle Entrepreneurship Forum, India’s leading incubation and investment platform supported by Atal Innovation Mission, NITI Aayog, Ministry of MSME, and Ministry of Electronics and IT, has been selected under the Startup India Seed Fund Scheme announced by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India. AIC-Pinnacle Entrepreneurship Forum will receive a grant of INR 45 million under this scheme.
In the same speech, Dr. Sudhir Mehta, Founder of AIC-Pinnacle Entrepreneurship Forum and Chairman of Pinnacle Industries & EKA, said: India has a strong startup ecosystem, and government programs are helping to support it. It is an honour to have been chosen for the Startup India Seed Fund Scheme. The SISFS grant will serve as a catalyst for us to achieve our goal of creating a vibrant and high-impact entrepreneurial ecosystem focused on innovation, incubation, and investment in key sectors. We hope to incubate and fund 19 early-stage startups over the next three years with this assistance. We will assist early-stage startups with prototype development, product trials, outreach activities, legal compliance, intellectual property support, market-entry, commercialization, and scaling up, among other things.”
“So far, we have provided over ₹80 million to 56 startups in sectors such as Automotive, Electric Mobility, Agritech, IT/IoT/AI, Clean Energy, Health-Tech, Social Innovation, and other emerging areas, transforming their ideas and vision into scalable products, services, and models.” With the SISFS grant, we look forward to assisting startups in tier-2 and tier-3 cities that are eager to tackle the pressing problems in “Bharat,” the region that will produce the next generation of entrepreneurs and is home to 70% of all Indians.” Dr. Mehta continued.
The AIC-Pinnacle Entrepreneurship Forum is a subsidiary of Pinnacle Industries Limited, a diverse group of companies specialising in auto components, electric vehicles, retail store solutions, and financial and engineering services. AIC-Pinnacle is one of the leading industry-backed incubators, with a highly experienced advisory board that includes 100+ veteran mentors, a 5000+ entrepreneur network, 15+ corporate partners, and a 500+ investor network. Its mentor pool consists of veteran industry experts from across the country who bring decades of knowledge and experience to nurture and prepare startups in a focused and practical manner with a real market environment and support. To name a few AIC-Pinnacle incubated startups, Krishigati, Arcatron, Ziffytech, Dynateq, Fountlab, Agrosonic, CargoFL, and Attron Automotive are making a national impact by solving ground-level issues with innovative technologies.
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