Home Dehradun IIM Kashipur’s Annual Entrepreneurship Summit clocks 29 LOIs

IIM Kashipur’s Annual Entrepreneurship Summit clocks 29 LOIs

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By Our Staff Reporter

Kashipur, 1 Mar: IIM Kashipur FIED (Foundation for Innovation and Entrepreneurship Development) held a one of its kind event, the 7th edition of Uttishtha 2023 – Annual Entrepreneurship Summit. The initiative was supported by the Union Ministry of Agriculture and Farmers’ Welfare. This unique and successful initiative of IIM Kashipur has successfully clocked 29 LOIs worth Rs 5 crore funding for 15 national agri-startups. IIM Kashipur’s Uttishtha 2023 also hosted over 100 startups and nearly 20 VCs to exchange their interests. The event also witnessed the National Business Plan Pitching Competition, Investors’ Meet, and Entrepreneurs’ Conclave.

Prof Kulbhushan Balooni, Director, IIM Kashipur, said, “IIM Kashipur’s FIED platform has gone to a big level, especially the ‘Uttishtha’. We are creating a socio-economic impact in the home state by promoting entrepreneurship with the support of the state and central governments. The FIED team has incubated 140+ startups and, out of these, about 40+ startups have generated over Rs 3.2 billion in funding. These startups have also generated direct employment for 1200+ and have impacted over half a million farmers. We have identified the talent of entrepreneurs and provided them the 360-degree support for creating success stories.”

Prof Safal Batra, Director of FIED, said, “FIED stands tall nationally by hosting such a platform in Uttarakhand. We have seen our incubators’ team going into the interior and remotest places of the state to identify entrepreneurs with unique business ideas that can represent the future of Indian Business. By facilitating the right platform for bringing the right human resources, branding, investors, larger marketplace, price and packaging, we put them into the mainstream business.”

Some of the IIM Kashipur FIED incubated startups are making success stories in the country. Bijak raised $ 34.1 million, LoopWorm raised $ 3.4 million and Greenpod Labs raised $0.54 million from external investors. PoultryMon, NKosh, InfiU Labs and many more have also generated funds on merit and shown ways to other registered startups.

Several innovative businesses made a memorable impact on the minds of expo visitors. Various startups presented business ideas such as a clothing range made from bamboo fabric, interior design articles made from cow dung, a crockery range made from bamboo, a range of toys made from wood waste, a drone for pesticide spraying in agricultural fields, honey-coated dry fruits, organic fertiliser, wellness products, handicrafts, and hand-knits, as well as an immunity booster made from agricultural produce, incense sticks made of recycled flowers.

Eminent startup dignitaries were present at the inaugural session of Entrepreneur’s Conclave and Agri Mela. Rajat Jain, Founder of Sunfox; Nitin Jain, Co-Founder of OFBUSINESS; Anubhav Dubey, Founder of Chai Sutta Bar, delivered the keynote addresses and motivated the startup participants.