Centre for Innovation and Entrepreneurship (CIE) at International Institute of Information Technology (IIIT), Hyderabad, has announced the on-boarding of 4 startups for the 14th cohort of Avishkar Deep Tech accelerator. From 150 applicants, the selection committee shortlisted four startups for the program.
The accelerator offers IIITH’s research support, business mentorship, market access, and a seed fund of Rs 40 lakhs. Avishkar happens to be a 6-month cohort-based accelerator that hones the business plan, team, and overall strategy of the startups. It also helps the startups to turn business investment-ready. In short, Avishkar facilitates the startups’ journey from seed level to VC/Angel level readiness.
CIE, IIIT Hyderabad, Co-creation Consulting, and SucSeed Indovation Fund help wobbling startups find a strong foothold. Avishkar brings together the deep tech expertise of IIITH’s research labs and the opportunity of working with the ecosystem of IIITH Foundation while engaging in in-depth business mentoring from Co-creation consulting and investor connections from SucSEED Indovation Fund.
Hirex.ai, a cognitive voice-bot solution for automated hiring interviews, CometLabs, an AI-powered solution for hiring deep-tech developers by competitive development events, and boot camps are among the four startups chosen. Embedsense, an industrial IoT company providing remote monitoring, process optimization, and predictive maintenance in a molding manufacturing setup, and WebNyay, an online dispute resolution ecosystem end-to-end digital platform for the resolution of complaints and disputes in an efficient and inexpensive manner, are the other two startups picked for the program.
In the past six years, Avishkar has funded a number of alumni startups that got external VC funding. Some examples include Revos (USD 4M), Instoried (USD 8M), Scholr (acquired by Byju’s), and Pay matrix (acquired by Muthoot), to name a few.