IIT Delhi has come up with a plan to help the startups which have been rejected. Over 125 companies have come forward to support this plan. These startups will be provided with the fund up to 10 lakhs along with the labs for the products and market research.
It will be launched by the next month and applications will be considered from the month of May. Dean of research and development department professor Sunit Tulli said that not only the students and alumni of IIT will be welcome but also others will be given an opportunity with their startup ideas. We will try to identify the reasons behind the failure and the potential in their ideas,â€ he added.
This plan will be linked up with the science and research park of the institute. After IIT Delhi, IITMadras too will undertake this plan. The main objective of this plan is to promote innovation and research in this field.Startups will get to learn the aspects through case study as well.Many Companies from the field of hospitality, mechanical aviation,e-commerce, telecom and medical have come forward supporting this initiative.
The first research park has been set up in Stanford University that has increased not only the market share of software companies but also the employment levels in America. This plan will give new heights to the startup ecosystem in India. Startups will not only overcome the fear of failure but also will get a platform to research and develop a better product.