IIT Bombay to enable startups and innovators in a post Covid-19 world
Startups and innovators that can offer technology solutions in response to needs arising in a post Covid-19 world will be groomed by the central government’s Ministry of Electronics and Information Technology’s (MeitY’s). MeitY launched a scheme for promoting innovations in the fields of healthcare, education, medtech and work from home to prepare for a world after the Covid-19 pandemic.
The central government has called for applications from innovators and startups under the Scheme for Accelerating Startups around Post COVID Technology Opportunities (SASACT) for developing or re-purposing technologies, tools, systems, solutions to respond to the post Covid-19 scenario.
A fund worth Rs 9.6 crore has been set aside under SASACT, which is a part of the measures issued by MeitY in response to post-pandemic requirements.
“The scheme is looking to groom startups based on Information and communications technology, hardware or software in the specific context of a post-Covid-19 world. For example, solutions on home-based healthcare, online tools, education technology, among others,” said Poyni Bhatt, chief executive officer, Society for Innovation and Entrepreneurship (SINE) at the Indian Institute of Technology, Bombay. SINE is one of the four agencies chosen by the MietY for implementing the scheme.
An eligible startup can avail a maximum support upto Rs 40 lakh for the proposed technology product or solutions. A total number of 40-50 proposals will be supported under the scheme said a statement by the MietY. The grant will be divided into two tranches that will be released in a phased manner based on designated milestones to be intimated at the time of approval of the proposal.
Some of the areas in which the government is looking for solutions include smart/ digital manufacturing including 3D printing, digital health/ Medtech, Edutech, Fintech, Work From Home (WFH) and other solutions that address concerns arising in the post Covid-19 scenario.