Hyderabad: GITAM Deemed-to-be-University on Thursday signed a Memorandum of Understanding (MoU) with IIT Hyderabad to support 75 innovators to turn their ideas into startups.
The MoU was signed between GITAM’s entrepreneurship and innovation cell, Venture Development Center (VDC) and the iTIC Incubator at IIT Hyderabad, the varsity said in a statement.
The iTIC is a technology business incubator under the Indian Institute of Technology Hyderabad supported by the Department of Science and Technology.
The MoU comes as a part of iTIC incubator’s collaboration with Greenko Group to launch a new program called Bold and Unique Idea Led Development (BUILD).
Adding on to a financial aid of Rs 1 lakh, innovators selected for the program will be mentored, and provided with prototyping support and a co-working space, GITAM said.
At the end of the 12-month program, innovators could get a chance for preincubation support and further grants at iTIC Incubator at IIT Hyderabad.
The application can be done through the iTIC website, itic.iith.ac.in/build, before July 5.
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