14 start-ups provided Central funds for innovation projects

The Atal Incubation Centre at Pondicherry Technological University has facilitated financial assistance to 14 start-ups in Puducherry. Of the 14 start-ups, 8 have received assistance of ₹ 1.2 crore each as convertible debentures and 6 of them received a grant of ₹60 lakh for innovation, Executive Director, AIC, Pondicherry Engineering College Foundation, R. Sundaramurthy said here on Friday. “The funds are provided by the Centre. These start-ups together have given direct employment to around 165 people,” he said while participating in the inaugural session of the fourth edition of the Start-up Summit organised by the Confederation of Indian Industry. Mr. Sundaramurthy said the AIC has started working closely with the Education Department to promote innovation in schools. The government has established Atal Tinkering Laboratories at 22 government schools. The AIC would work in close coordination with the department to assist students in using the laboratory for innovation, he said. The AIC would also provide training to teachers to assist students in the development of technology and innovative ideas, he said. Director of Industries P.T Rudra Goud in his address said the culture of entrepreneurship has to be inculcated in people at a young age. The schools can play a proactive role in nurturing the spirit of entrepreneurship, he said. “We can also think about starting entrepreneurship courses at all levels. Start-ups are not only going to benefit individuals but also the country in terms of revenue generation and job creation,” Mr. Goud said. Mission Director and CEO Startup TN Sivarajah Ramanathan, Chairman CII, Puducherry A. Joesph Rozario and Chairman CII Puducherry Startup Summit M. Kalaiichelvan were among those who attended the inaugural session.