The Ministry of Electronics and Information Technology (MeitY) has granted Rs 2 crore in funding to five startups incubated at the Atal Incubation Centre (AIC) of the Birla Institute of Management Technology (BIMTECH). This funding is part of the SAMRIDH program, which reflects India’s commitment to fostering innovation and entrepreneurship. The five startups that received the funding are Cunomial, Credit Siddhi, Origin Connect, Transport Simple, and Vacus.
They are part of a cohort of eight startups supported by AIC-BIMTECH under the program. Together, these startups have an aggregated valuation of Rs 75 crore, showing their growth potential and impact on India’s economy.
Funding boost for BIMTECH startups
Dr. Prabina Rajib, Director of BIMTECH, said, “The SAMRIDH program has enabled BIMTECH to empower startups with tailored resources and insights, helping them innovate and thrive in competitive markets.
Dr. Shalini Singh, Chairperson of the Center for Innovation and Entrepreneurship Development and Acting CEO of AIC BIMTECH, added, “At AIC BIMTECH, we provide comprehensive support for startups offering not just soft infrastructure and co-working spaces but also invaluable mentorship, extensive networking, opportunities for market access, investor connections, and a range of business development activities.
AIC-BIMTECH has nurtured over 400 startups and built more than 200 partnerships, creating a vibrant entrepreneurial ecosystem.
The eight startups under its SAMRIDH cohort—Cunomial, Credit Siddhi, Origin Connect, Transport Simple, Vacus, Fabrik, Detrocel, and Ecotio—are driving innovation, creating jobs, and generating revenue, contributing substantially to India’s economy. The funding granted by MeitY under the SAMRIDH program to these five startups shows the government’s commitment to innovation and the development of a strong startup ecosystem in India. BIMTECH’s efforts in fostering a supportive environment for startups highlight the important role of academic and incubation centers in driving economic growth and technological advancement.
