The Centre for Research on Start-ups and Risk Financing (CREST) at the Indian Institute of Technology Madras (IIT Madras) has introduced an ‘Intelligence Platform on Government Funding Schemes for Start-ups.’ This initiative aims to streamline and enhance access to government funding opportunities for startups.
The platform, developed in collaboration with YNOS, a startup incubated at IIT Madras, consolidates a wide range of startup schemes provided by the Indian government, making them easily accessible to entrepreneurs. The project is the result of extensive research conducted by a team of academics from IIT Madras’ Department of Management Studies, led by Professor Thillai Rajan, who serves as the Principal Investigator of CREST.
The platform functions as a comprehensive resource for entrepreneurs, offering valuable insights into government support programs for startups. It compiles data from various state governments, central public sector organizations, and central government initiatives. With close to a hundred distinct programs available from various entities, it serves as a one-stop destination for startup founders to explore funding opportunities.
Key features of the platform include detailed information on the types of startups benefiting from these programs, average funding amounts received, the startup’s age when funding was secured, the number of founders involved, and the founders’ ages at the time of funding.
In addition to providing this wealth of information, the platform also offers social media links and contact details for each scheme, allowing entrepreneurs to engage further if interested. By providing transparent insights into government-funded startups’ performance, it has the potential to attract private investors, including angel investors and venture capitalists.
The development of this platform was driven by the information challenges faced by entrepreneurs and stakeholders in India’s startup ecosystem. Previously, information was dispersed and challenging to access, failing to meet the needs of the stakeholders. CREST’s endeavor to create a globally recognized intelligence platform addresses these information gaps and supports the growth of early-stage businesses.
