IIT Kanpur incubator crosses 100 startups mark with combined valuation over USD 1 Billion

The IIT K mission has helped foster next-generation innovations and merging profit with purpose
IIT Kanpur
IIT Kanpur

The IIT-K initiative to promote entrepreneurship and innovation by converting
ideas into products is spearheaded by Foundation for Research & Innovation in
Science & Technology (FIRST), a Section-8 company, supported by the institute.
FIRST was registered in 2018 as an offspring of the Technology Business Incubator
of IIT Kanpur popularly known by its brand name, Start-up Incubation and Innovation
Centre (SIIC).

The IIT K mission has helped foster next-generation innovations and merging profit
with purpose. The incubator is supported by a vibrant, dynamic IIT Kanpur
ecosystem that has inspired entrepreneurs to achieve excellence in product
innovation at par with global standards.


Congratulating the leadership for the sustained efforts, Prof Abhay Karandikar,
Director, IIT Kanpur, commented, "SIIC has compounded IIT Kanpur's efforts
towards establishing a unique incubation ecosystem with a vision to contribute to the
nation's growth. Every incubated company is welcome to harness IIT Kanpur's
infrastructure. We are proud of SIIC for taking entrepreneurship to the hinterlands of
India and creating a legacy of innovation."


Prof Amitabha Bandyopadhyay, Professor-in-Charge, Innovation & Incubation, IIT
Kanpur, added, "SIIC is a powerhouse of visionary talent that pushes boundaries to
create impact at the bottom of the pyramid. At SIIC, we wake up every day to
facilitate the conversion of ideas into products. We look forward to supporting more
promising technologies that put quality at the helm of innovation."


Currently, SIIC is home to more than 100 companies across multidisciplinary
domains of healthcare, agritech, cleantech, artificial intelligence, machine learning,
and waste to value. Historically, more than 50% of SIIC incubates have remained
active and sustainable for more than five years since the incorporation of the companies. At present, over 37% of SIIC incubated companies are in the revenue-
making stage.


Dr Nikhil Agarwal, the CEO, FIRST commented, “Our companies have solved
nation’s pertinent challenges through technology. When the first wave of COVID-19
arrived, Noccarc stepped up and developed a ventilator in 90 days. That victory
galvanized our belief to overcome formidable odds. This year, we partnered with
MSME manufacturers and set up oxygen plants pan India under the Mission Bharat
O2. With these initiatives, we are moving a step ahead in our vision of making India
an indigenously supported, state-of-the-art manufacturing hub.”

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