IIT-Indore Boosts Innovation; 89 Startups Incubated, Creating 500+ Jobs
Indore (Madhya Pradesh): In a powerful push toward innovation and entrepreneurship, IIT Indore Incubation Centre is emerging as one of Central India’s leading startup ecosystems.
ACE Foundation, through the Centre for Entrepreneurship Education and Development (CEED), has played a pivotal role in nurturing startups. So far, 89 startups have been incubated, of which 38 have graduated, generating over 500 jobs. Among the 51 currently incubated, about 10 are in the market validation stage.
The Institute has attracted over ₹8 crores in funding, including ₹5 crores under the Startup India Seed Fund Scheme (SISFS). With over 85 startups incubated, the Centre is at the forefront of providing critical support in the form of mentorship, funding access, technical guidance, and government linkage.
As part of its mission to promote early-stage innovation, IIT Indore is proudly serving as a Host Institute for the MSME Idea Hackathon 5.0, an initiative of the Ministry of Micro, Small and Medium Enterprises (MSME), Government of India.
The Hackathon aims to support innovative ideas that have the potential to be developed into viable businesses. In this, applications from individuals and startups will be invited and selected ideas may receive financial assistance of up to ₹15 lakh along with incubation support from the Institute.
The last date for filling of the application is July 31. In Idea Hackathon 4.0, one idea, Low-Cost High-Speed Camera Technology for Education, Training, and Research, got selected under IIT Indore for a grant of Rs. 15 Lakh.
IIT Indore director Prof. Suhas Joshi said “IIT Indore Incubation Centre offers a thriving environment for entrepreneurs to grow their startups. We are happy to support the innovative ideas with the structured incubation programs and personalized mentorship.
We also help startups provide access to funding through investor networks, VCs, and government schemes and support in prototyping, product validation, and go-to-market strategies. The startup will have collaboration opportunities with IIT Indore’s faculty, labs, and research ecosystem.”
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