Amrita University commits for $350,000 in seed funding for five start-ups

Kochi: Amrita University’s Technology Business Incubator (TBI) has committed $350,000 in seed funding for five promising start-ups, which were shortlisted out of 720 startups from across the country that participated in the fifth edition of annual PitchFest organised by it.

The five winning startups are Cookifi, Swasti Agro & Bioproducts, Bizbee, Nextsky Technologies, and Miqasa Home Automation.

“We hold a PitchFest every year to support the Government’s ambitious ‘Startup India, Standup India’ action plan. This year, we increased the total funding outlay from $200,000 to $350,000 considering the high quality of start-ups that made it to the Top 30 list out of 720 startups which applied for the PitchFest,” said Dr. Krishnashree Achuthan, CEO of Amrita University’s Technology Business Incubator(TBI).

Out of the 720 startups which applied, the Top-30 startups were shortlisted and invited to pitch on Day-1 of the PitchFest. The Top-13 startups were shortlisted for Day-2. Finally, the Top-5 startups were selected for funding by Amrita University.

Source: The Economic Times