Grant for Cusat Startups

KOCHI:
Cochin University of science and Technology has come out with a Start-up grant with the objective of helping our students and researchers to convert their innovative ideas into full-fledged ventures. This fund, set up with financial support from RUSA, is managed by CUSAT-TBI under CUSATECHFOUNDATION. CUSATECH FOUNDATION is a section 8 company formed by CUSAT for Entrepreneurship development, Employability enhancement and to promote innovation.

This year’s grant was disbursed under two heads namely start-up grant and Covid Response Grant. The objective of the start-up grant was to encourage CUSAT staff, students and alumni to setup and run university- connected start-up companies leveraging on the expertise of CUSAT. Applications were received under idea grant for potential start-ups who have a brilliant idea / research output which they want to commercialize and under product grant for start-ups who have completed their prototype and are seriously looking at final product development and going to the market. Covid response grant is exclusively for the development of products and services
specifically useful in the fight against the corona virus pandemic. The final outcome of the work should be development of a prototype / formulation/ process/ Minimum Viable Product (MVP) which can be scalable for deployment.

The screening of the applications forms were done by expert panel set up by the Hon. Vice- chancellor consisting of academicians and industry experts. 24 start-ups under various domains like Electronic hardware, Bio Technology, marine Science, Polymer, Software applications were recommended under the present call. A total amount to the tune of Rs 40lakhs will be disbursed as grant in multiple installments.

CUSAT already has a vibrant Technology Business Incubator namely CITTIC with more than 50 start-ups. With financial support from RUSA, CUSAT is planning to upgrade CITTIC to a state of the art TBI under CUSATECH FOUNDATION. It will provide best of infrastructural facilities for start-ups and also help them grow making the best out of the facilities and resources available in the campus. An additional space of 3000 sq ft is already allotted in Students Amenity Centre and sanction is accorded for the construction of another10000 sq ft. A Fab lab sponsored by Kerala Start-up Mission is also under development. Prof.(Dr.) N Manoj is the Coordinator of the RUSA
Project in CUSAT and Prof.(Dr.) Sam Thomas is the coordinator of CUSAT-BI.