Winners of the India Innovation Growth Programme (IIGP) 2.0, showcased their award winning technologies under a Demo Day held in Bengaluru today. The innovations included 12 industrial and 4 social sector technologies, from 2017 and 2018.
The India Innovation Growth Programme (IIGP) 2.0 is a unique tripartite initiative of the Department of Science and Technology (DST), Government of India, Lockheed Martin and Tata Trusts. Supporting the Government of India’s missions of “Start-up India” and “Make in India”, IIGP 2.0 enhances the Indian innovation ecosystem by enabling innovators and entrepreneurs through the stages of ideation and innovation, to develop technology-based solutions for tomorrow.
Complemented by several implementation partners, Federation of Indian Chambers of Commerce and Industry (FICCI), Indo-US Science and Technology Forum (IUSSTF), Centre for Innovation Incubation and Entrepreneurship (CIIE) at IIM Ahmedabad, Indian Institute of Technology Bombay and the Tata Center for Technology and Design at the Massachusetts Institute of Technology; the programme aims to build an innovation pipeline in India through a high-impact programme focused on the social and industrial innovation ecosystem.
Launched in 2007, India Innovation Growth Programme (IIGP) has been one of India’s longest standing public-private partnerships. The programme has provided mentoring and handholding assistance to over 400 innovators coming from diverse sectors from across the country; generated over 350 commercial agreements and over $900 Million of economic value for India. (Source: Second Impact Analysis Report by Ernst & Young in 2015).
Through two annual parallel tracks viz. University Challenge and Open Innovation Challenge, IIGP 2.0 identifies and supports both industrial and social innovations.
As part of the Demo Day event, 16 start-ups made presentations about their technologies and also interacted with potential investors and the wider startup ecosystem of Bengaluru.
These start-ups attended an intensive one-week Bootcamp at IIM Ahmedabad which included classroom sessions focused on measuring financial performance, financial modeling and valuation, design thinking, leadership, business models, pricing, etc. as well as one-on-one mentoring sessions, pitching training and networking opportunities. 10 start-ups in 2017 and 16 start-ups in 2018 were selected as winners and received grants worth INR 25 Lacs each as well as an opportunity to participate in an intensive global exposure visit to the United States of America to learn and access the US start-up ecosystem.