The Atal Incubation Centre-PEC Foundation at Puducherry Technological University has been selected under Startup India Seed Fund Scheme (SISFS).
Under the scheme, an approval for ₹3 crore has been granted by the Experts Advisory Committee (EAC) of Department for Promotion of Industry and Internal Trade Government of India to AIC-PEC Foundation.
The foundation is among seven other incubation centres across India who presented their progress and key milestones achieved, at the 8th EAC meeting held in October.
According to a press note, the AIC-PEC Foundation was appreciated by the EAC for being the only active startup incubation centre in Puducherry offering the much-required support services to fledgling startups in the local ecosystem thereby providing employment and socio-economic growth in the society.
The allotted fund will be disbursed and managed by AIC-PEC Foundation to the eligible startups.
“We hope this will be of significant support to the startups, enabling them to graduate to next level and this is considered as one of the major milestones for the Puducherry Startup Ecosystem,” said V. Vishnu Varadan, CEO, Atal Incubation Centre-PEC Foundation.
Being chosen for SISFS support will really boost the local startup ecosystem and create greater opportunities for aspiring student entrepreneurs, said R. Sundaramurthy, Executive Director, Atal Incubation Centre-PEC Foundation.
The call for applications is full year-round and sector-agnostic and the startups can apply to three incubators simultaneously through SISFS website.
