Startups should focus on solving everyday problems faced by the public rather than aiming at high-impact issues such as climate change, said A. Velumani, creator of Thyrocare, in Coimbatore city on Sunday.
Mr. Velumani, who presented agreements to 13 startups that were onboarded by the CODISSIA Defence Innovation and Atal Incubation Centre (CDIIC) in Coimbatore city on Sunday, said, “Entrepreneurs should take incremental steps to address daily issues. Financial prudence is key; managing resources effectively and addressing immediate needs will lead to sustainable success. Additionally, setting lower product prices can help startups sustain their business and gradually increase profitability,” he said.
The onboarded startups work in areas such as drone technology, space exploration, and patient transport solutions. Some of them are into robotics and cybersecurity. All the starups will work on solutions for the defence and commercial purposes.
The event also showcased 12 products from Bharat Earth Movers Limited (BEML), Palakkad, for indigenisation.
Major Pradeep M.(Retd), who incubated his startup at the event, said, “CDIIC is recognised by the Ministry of Defence, giving defence tech startups an extra edge. It is easier to get nominated or preferred for indigenous production here, as the CDIIC is reportedly the only defence product incubator in Coimbatore.”
A representative of the CDIIC said, “We have successfully graduated eight companies out of a total of 35 through our incubation programme, and five more startups will graduate in the coming months. Additionally, we pre-incubate startups in their development stages, and this year, we have two pre-incubators.”
