New Delhi: A contract for the "Startup Gateway Free Cities" initiative has been signed by the Indian Institute of Technology (IIT) Kanpur and the ministry of housing and urban affairs (MoHUA) in New Delhi. The MoHUA will serve as a monitoring organisation for 20 startups as part of this programme, with the top 10 startups from the 30 finalists in the "Swachhata Startup Challenge" being disqualified.
Additionally, MoHUA will contribute financially to the expanding global innovation ecosystem in the waste-to-wealth sector. IIT Kanpur's Startup Incubation and Innovation Centre (SIIC), a technological business incubator, has a contract with the ministry.
According to a statement from the institute, SIIC IIT Kanpur is a partner in managing the Program as part of the endeavour to support 20 chosen innovators and startups by providing mentoring, administrative support, and handholding support for a year. IIT Kanpur noted that during the program's implementation, 55 companies will be discovered and given the necessary support for their expansion.
According to the institute, the goal of this partnership between MoHUA and SIIC, IIT Kanpur, is to support 75 startups working at the intersection of technology and social innovation to address India's waste management issues by enhancing waste management effectiveness, boosting social impact, and enhancing value chain transparency.
All year long, the "Startup Gateway for Garbage Free Cities" portal will be accessible. Twenty entrepreneurs will get financial support as part of the initiative's initial batch. The webpage will host the start of this initiative's second phase, where any prospective business can simultaneously apply under the appropriate incubation mode, it was said.
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