Hyderabad: Centre for Innovation and Entrepreneurship (CIE) at International Institute of Information Technology, Hyderabad announced, on Wednesday, the onboarding of 4 startups for the 14th cohort of Avishkar Deep Tech accelerator.
From an application pool of 150 startups, the selection committee shortlisted four startups for the programme. The accelerator offers IIITH’s research support, business mentorship, market access and seed fund of rupees 40 lakhs.
Avishkar is a 6-month cohort-based accelerator that focuses on honing the business plan, team, and overall strategy of the startups and getting the startups business investment-ready. It facilitates the startups’ journey from a seed level to a VC/Angel level readiness.
It is facilitated jointly by CIE, IIIT Hyderabad, Co-creation Consulting, and SucSeed Indovation Fund. It brings together the deep-tech expertise of IIITH’s research labs and the opportunity of working within the ecosystem of IIITH Foundation while engaging in in-depth business mentoring from Co-creation consulting and Investor connections from SucSEED Indovation Fund.
During the launch of the programme, 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,”.
The startups in this cohort are Hirex.ai, a cognitive voice-bot solution for automated hiring interviews, alongside CometLabs, an AI-powered solution for hiring deep-tech developers by competitive development events and boot camps.
Embedsense, an industrial IoT company providing remote monitoring, process optimization, and predictive maintenance in moulding manufacturing setup and WebNyay, an online dispute resolution ecosystem end-to-end digital platform for the resolution of complaints and disputes in an efficient, speedy, flexible, and inexpensive manner, are the other two startups that have been selected by the committee.
Avishkar, through the six years, has enabled a number of alumni Avishkar startups. That have since raised external VC funding. Revos (USD 4M), Instoried(USD 8M) Scholr(Acquired by Edtech giant of India, Byju’s), Paymatrix (Acquired by Muthoot) among others.