The Indian Institute of Technology Madras (IIT Madras) researchers at Centre for Research on Start-ups and Risk Financing (CREST) have developed an ‘Intelligence Platform on Government Funding Schemes for Start-ups’ to boost the start-up sector.
This platform has been developed and implemented in partnership with YNOS, an IIT Madras-incubated start-up. This platform will provide the contact details and the social media links of the respective schemes, enabling the entrepreneurs to get more information about the scheme if they are interested. The entrepreneur can also download a detailed report on each and every scheme through a click.
The researchers hope that by providing entrepreneurs with a thorough understanding of the government funding ecosystem for start-ups, this platform will assist them. The product combines data from several state governments, central public sector organizations, and central government plans. There are almost a hundred distinct programs run by various organizations.
“The business owner can learn about every government program in one place with just a few mouse clicks.” Amitabh Kant, India’s G20 Sherpa, stated during the platform’s launch that the platform also offers comprehensive analytics, including the start-ups that have benefited from the program, the average amount of funding received, the age of the start-up at the time of funding, the number of founders in the start-up, and the age of founders at the time of receiving financial support.