Indian Institute of Technology (IIT) Mandi Catalyst started its second startup exploration programme of 2021. The institute was given the responsibility by the Himachal Pradesh government to distribute Rs 10 Cr under the Him Startup Yojana that provides up to Rs 50 lakhs to the startups for commercialisation.
IIT Mandi Catalyst has supported about 140 startups in eight startup batches till now and this will be the ninth batch of startups in the last five years. As many as 23 startup teams including 11 from Himachal Pradesh working in sectors including Waste Management, Agrotech, Healthtech, Enterprise Management, and Cleantech will not only be receiving 50 lakh funding but also training from IIT Mandi.
The 23 startups selected by IIT Mandi Catalyst will go through a rigorous training and mentoring process over the next three months after which they will present their refined ideas on a demo day. Most suitable ideas will be further supported by IIT Mandi Catalyst through a one-year program under various funding schemes.
The guest of honor at the event, Rajesh Kumar Prajapati Director, Dept of Industries, HP encouraged the start ups teams from various parts of the country and congratulated them on their brave decision to start a venture. He also mentioned to the entrepreneurs that Himachal Pradesh got the seventh rank in the country for ‘Ease of doing Business’ in 2019 by the Ministry of Finance.