Himalayan Startup Trek, the annual flagship event of IIT Mandi Catalyst was cynosure of all eyes when it was inaugurated by Himachal Pradesh Chief Minister Jai Ram Thakur.
Himalayan Startup Trek was inaugurated virtually and Industries Minister of Himachal Pradesh Sh. Bikram Singh announced a seed fund of Rs 10 crore for startups from Himachal Pradesh.
IIT Mandi will be hosting this fund under Him Startup Yojana. Speaking during the inauguration of Himalayan Startup Trek, Chief Minister Jai Ram Thakur said IIT Mandi is a jewel of Himachal Pradesh.
I congratulate and applaud the Institute on virtually organising the Himalayan Startup Trek during the Covid times.’
I am happy to see how the Institute has made an impact with its startup initiatives on a national level, he said during the inauguration of Himalayan Startup Trek.
Chief Minister during the inauguration of Himalayan Startup Trek further said in the fast growing world, he urges the young startups to take a lead in utlising technology to find solutions for the community at large.
Concluding his address during the inauguration of Himalayan Startup Trek, he said ‘I hope to visit IIT Mandi in the near future and discuss how the state government can work even closer with the Institute to boost the entrepreneurial ecosystem in the state.’
Himalayan Startup Trek gets a great big boost
Industries Minister Bikram Singh speaking at the inauguration of Himalayan Startup Trek said he was happy to see IIT Mandi has incubated more than 100 startups in the past 4 years which have made a mark not just on national but on international level as well.
‘I congratulate the Institute and its team for this achievement and hope that these innovators will help the country grow.’
Industries Minister speaking further at the inauguration of Himalayan Startup Trek said The Him Startup Yojna will provide unimaginable opportunities to the startups from Himachal Pradesh.
It is interesting to note that IIT Mandi Catalyst already hosts Rs 10 crore fund sponsored by Department of Science and Technology of Government of India that has national focus.
Under the Him Startup Yojana, funding will be focussed to the regional startups that are in advance stages of product development and are looking to commercialise it in the near future.
Speaking about the collaboration of IIT Mandi and state goverment during the inauguration of Himalayan Startup Trek, IIT Mandi director Professor Ajit K. Chaturvedi said IIT Mandi Catalyst is continuously helping young minds in materialising their innovative ideas to create solutions for the society at large.
‘The fund under the Him Startup Yojna provided by the state government will prove to be a boon for the new ventures in the state.’
IIT Mandi Catalyst will consider providing incubation support to as many as 70 startups during this year’s Himalayan Startup Trek.
Himalayan Startup Trek is a three day event during which three day event 40 mentors/investors will meet these startups.
Startups that would be selected at Himalayan Startup Trek will undergo an incubation program during which seed funding will be provided to them.
A maximum seed support of Rs. 50 Lakh will be available to a single startup.
Dr. Anita Gupta, Advisor and Head (Innovation and Entrepreneurship), Department of Science and Technology, Government of India said given the talent, opportunity, challenges, and diversity, in India, we are charting the new pathways to promote entrepreneurship in the county.
Incubators like IIT Mandi Catalyst are navigating the challenging journey of young startups and providing mentors for them to succeed, she said speaking at Himalayan Startup Trek.
‘I am happy to see many startups incubated by IIT Mandi Catalyst and other incubators of DST have worked tirelessly to help tackle COVID in the country.’
Also read ‘Click here to know the great medical education scenario in our country‘
Dr Anita speaking further during the inauguration of Himalayan Startup Trek said all these innovative efforts have helped India rise in the Global Innovation Index.
Dr. Ajai K Garg, Director, Ministry of Electronics and Information Technology, Govenment of India said Covid has given us a great opportunity to enhance our strength using technological innovation and solutions.
IIT Mandi Catalyst is an important factor keeping the government and young entrepreneurs glued to work together for the betterment of Society.
I am glad to say MeitY startup hub is with Catalyst to support the young entrepreneurial India, he said during the inauguration of Himalayan Startup Trek.
In its incubation program, IIT Mandi Catalyst will provide business and technical mentoring to the selected startups shortlisted under the scheme through a competitive pitching process.
The next batch of incubation program will begin in the month of January 2021 and the startups will have an opportunity to raise funds from various funding schemes that the incubator hosts.
It is notable that IIT Mandi Catalyst is committed to building a strong ecosystem in the region.
In a short span of four years, Catalyst has incubated more than 100 startups and disbursed more than Rs. 3.5 crore funds.
Catalyst is currently hosting Nidhi-Seed Support System, Nidhi-Prayas Scheme, and TIDE 2.0 scheme of the Ministry of Electronics and Information Technology that has a national focus.
All these schemes provide funding for different stages of startups be it ideation, prototyping or commercialization.
Apart from this, Mr. Srikanth Velamakanni, Executive Vice Chairman, Fractal Analytics, Mr. Kartik Desai, Executive Director, Asha Impact and Ms. Rhea M Singhal, Founder & CEO, Ecoware India addressed the audience at the inauguration of Himalayan Startup Trek.