Wednesday, 29 MAY 2024 | PNS | DEHRADUN
The UPES has claimed that its Runway Incubator has secured a grant from the Department of Science and Technology (DST) for the establishment and operation of an inclusive technology business incubator (i-TBI) under the National Initiative for Developing and Harnessing the Innovation (NIDHI) inclusive TBI (iTBI) scheme.
UPES will contribute Rs 1.02 crore, while the DST will provide Rs 3.88 crore for setting up this incubator. NIDHI is a programme initiated by the DST to transform ideas and innovations into successful start-ups.
“Fostering a healthy start-up environment, enabling innovation and growth for aspiring entrepreneurs has always been our priority. There is a huge untapped potential which can shape the entrepreneurial landscape, boost the economy and address the country’s biggest challenges. This is a concerted effort to empower budding entrepreneurs and innovators to translate their ideas into disruptive businesses, all while developing a robust skill set that blends business acumen with technical know-how,” Runway Incubator CEO Rahul Nainwal said.
Launched in 2021, UPES Runway Incubator has supported over 250 start-ups across diverse sectors. “This incubator will offer comprehensive support and resources to start-ups specialising in deep technology. This effort is aimed at fostering ventures focused on Artificial Intelligence (AI) and Machine Learning (ML), sustainability, and AgriTech. These sectors are known for their capacity to spur innovation and tackle urgent global issues. UPES i-TBI will concentrate on pioneering concepts which intersect social, economic, and developmental challenges with technology,’’ a communique from UPES stated.
