Karotimam Innovations Pvt Ltd’s Post

We’re thrilled to announce the winners of the FORT Industrial Innovation & Scaleup Grant - aimed at funding Tamil Nadu’s Innovators and Startups in the industrial tech space covering core-operational and digital technologies. This funding program is part of the FORT(Force of Rapid Transformation) initiative - established by State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) under the aegis of Industries Department, Govt of Tamil Nadu in partnership with Forge (Strategic Partner Incubator). These FORT centres are set in the heart of industrial parks in Chennai and Hosur, and are aimed at catalysing industrial transformation in the digital age - combining manufacturing excellence with technology leadership, entrepreneurial innovation, and future-ready talent. The awards ceremony took place at the Secretariat, Chennai on 26th June, 2024 - with Dr. TRB Rajaa, Minister for Industries, Investment Promotions and Commerce, Government of Tamil Nadu awarding the winning startups with the grant sanction and cheques - in the presence of Industries Secretary Thiru. V. Arun Roy, I.A.S.; Dr K. Senthil Raj, I.A.S. - MD, SIPCOT; Thiru P. Akash, I.A.S. - ED, SIPCOT; Thiru. Chandramohan Arumugam - GM, SIPCOT; Thiru. Meiyappan - Consultant, Operations; and Thiru. Vish Sahasranamam, Cofounder & CEO, Forge Innovation & Ventures. Fabheads Automation & JIDOKA Technologies Pvt.Ltd are growth stage startups that were awarded Scaleup Grants of Rs.40 L each. These startups will utilise the grant to fund Business Growth Projects that will enable accelerated development of production & industrialisation capabilities. In the Market Stage category, Tomgo Agro Machines, Suzhiyam Industrial Machines Private Limited, Welkinrim Technologies and Unibose Technology Private Limited were awarded scaleup grants upto Rs.20L to implement Commercial Pilot projects that will pave the way for these startups to accelerate revenue outcomes through full-scale commercial deployments. In the Product Stage & Innovators category, TeraLumen Solutions, CeraTattva InnoTech, augurai, Karotimam Innovations Pvt Ltd, Raptee.HV, Yali Aerospace, Chimertech Private Limited and Sriram Gopal were awarded innovation grants of upto Rs.10L, for the completion of Product Innovation projects, fast-tracking product development towards product-market fit. This grant unlocks access to a wide array of incubation, acceleration, investment and other catalytic services ranging from Product Acceleration and Technical Infrastructure Support, to Strategic Advisory, Market Access & Investment Pathways - to rapidly transform these deep-tech startups into the next generation of full-stack industrial companies that will bolster industrial growth & transformation in Tamil Nadu - accelerating the state’s growth towards its goal of a $1Tn Economy by 2030. Guidance Tamil Nadu StartupTN FaMeTN Tamilnadu Industrial Development Corporation Limited #startups #tech #funding #grants

🎉 Proud to Announce a Major Milestone for Fabheads Automation! 🎉 We are thrilled to share that Fabheads Automation has been awarded the prestigious FORT Industrial Innovation & Scaleup #Grant by the Tamil Nadu Government! This grant, part of the FORT(Force of Rapid Transformation) initiative, supports Government of Tamil Nadu innovators and startups in industrial tech. The awards ceremony took place at the Secretariat, Chennai on 26th June 2024, where we were honored by Dr. TRB Rajaa, Minister for Industries, and other key dignitaries. Fabheads Automation, along with JIDOKA Technologies Pvt.Ltd Pvt. Ltd., received a Scaleup Grant of Rs. 40 L each. This funding will accelerate the development of our production and industrialization capabilities. We extend our gratitude to the Tamil Nadu Government, State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT), and Forge Innovation & Ventures for this incredible opportunity. This grant empowers us to scale new heights and reinforces our commitment to industrial innovation. Stay tuned for more updates! #Innovation #IndustrialTech #StartupGrowth #TamilNadu #SIPCOT #ForgeInnovation #FabheadsAutomation #FORTGrant #BusinessGrowth #ScaleupSuccess #Entrepreneurship

Deep tech startups have a huge potential to effectively address the needs and challenges of industrial companies and MSMEs through their innovative and technological solutions. However, traditional procurement processes make it challenging and financially unviable for startups to access these sectors, owing to lengthy sales cycles, non-transparent tendering processes, lengthy contracts, etc. On the other hand, startups as innovation partners are unmatched in their ability to develop and translate technologies to innovative operating capabilities and novel products at the lowest cost and fastest speed with agility and ingenuity. To overcome these challenges and facilitate the seamless adoption of technologies by industries, Forge’s FIX.IN initiative (Fostering Innovation eXcellence for Industrial TransformatioN), harnesses Open Innovation to strengthen operational & sustainability excellence in industrial companies by implementing process innovation projects based on innovative and advanced technological solutions. The Startup Pilot Grants offered under the FORT Industrial Innovation & Scaleup Grants, a critical part of FIX.IN, subsidise the direct costs involved in pilot implementation, enabling startups demonstrate the real impact through end-user adoption, and reduce the risks associated with technology adoption in industries. To ensure that these startups mature into successful technology ventures, they will also be provided with critical incubation & acceleration support - spanning product acceleration & technical infrastructure, strategic advisory, market access to public sectors & industrial companies, and innovation grants & seed investments. Calling all deep-tech innovators and startups across the industrial, aerospace, defence, sustainability, and urban tech sectors to apply for the FORT Industrial Innovation & Scaleup Grant to access funding for tech/product development, user trials & pilot deployments, pilot manufacturing, and product commercialisation to accelerate Product-Market Fit. Apply Now : https://lnkd.in/gMeUuKGF The application window closes on 3rd January, 2024. Selected startups will be required to present a preliminary pitch to an expert panel, followed by a Grand Finale Pitch to the FORT Grants Committee, which will select the final winners of the grant. Email us at [email protected] to know more. State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) | FORT | StartupTN | Tamil Nadu Technology Hub (iTNT) | MeitY Startup Hub | Startup India | IIT Madras Research Park (IITMRP) | Sivarajah Ramanathan | Vish Sahasranamam | Dr. B.L.Lakshmi Meera | Prakash Ramaswamy | Dinesh Subburaj | Aritro Ghosh | Arun Suresh | Ashwini Metri #startups #innovation #funding #scaleup #deeptech

Innovation on a Budget: Lessons from Chandrayaan-3 for Startups In the world of start-ups, innovation is often regarded as the key to success. But what if you have limited resources & a restricted budget? The recent Chandrayaan-3 mission by ISRO, teaches businesses how to innovate on a tight budget. Let's take a look at some of these lessons & how you may apply them to your own business path : 🚀 Ambition : The success of Chandrayaan-3 was inspired by a strong vision and ambitious ambitions. The mission was conducted on a $100 million budget, substantially less than prior lunar missions. Startups may benefit from this by setting daring goals that push the limits of what appears to be feasible. Even if you have little resources, dream big and aim high. Ambition is what drives innovation and moves startups ahead.  🚀 Innovation : Chandrayaan-3 demonstrated the potential of creativity in attaining outstanding outcomes on a little budget. The expedition made use of indigenous technology and low-cost alternatives including 3D printing and reusable components. Startups may foster an innovative culture by fostering creative thinking, experimenting with unusual solutions, and employing technology to enhance operations. Finding clever and efficient methods to innovate does not necessarily necessitate considerable financial commitment. 🚀 Collaboration : ISRO and numerous stakeholders worked together to make Chandrayaan-3 a success. Startups may learn from this by pursuing partnerships & collaborations that will allow them to multiply their influence. You may pool resources, exchange knowledge & achieve more by collaborating with like-minded individuals & organizations. 🚀 Resilience : Despite facing several hurdles & failures, Chandrayaan-3 displayed extraordinary resilience. Due to technical challenges & the COVID-19 epidemic, the mission was delayed, but ISRO persisted & successfully launched the mission in November 2021. Startups must be prepared to overcome challenges & adapt to changing conditions. Adopt a resilient mentality, learn from your mistakes & keep moving ahead. Remember that failures are frequently used as stepping stones to achievement. 🚀 Global Perspective : Chandrayaan-3 has a global perspective, drawing on multinational cooperation & skills like the ones with NASA & ESA, demonstrating the strength of global cooperation. Startups may take a similar strategy by thinking beyond the box & seeking global prospects. Expanding your reach beyond local markets can offer up new options for development & innovation in today's world. Startups may overcome resource limits & generate substantial change by embracing ambition, creativity, teamwork, resilience & a global view. It's not always about the size of your budget; it's about the enormity of your ideas & your resolution to make them a reality. Let's hustle, continue to innovate, disrupt & make a positive impact on the world.💪 #technology #isro #chandrayaan3 #startups #innovation #success

#startups | #manufacturing : The Department for Promotion of Industry and Internal Trade (DPIIT) is undertaking various measures to encourage the #startupecosystem and the industry at large to foster #innovation in manufacturing by supporting and collaborating with startups and developing manufacturing incubators. Manufacturing startups require support from several ecosystem stakeholders to grow and scale. Manufacturing focused incubators are one of the most important drivers of support for startups as they provide essential pilot, scaling, and manufacturing facilities that can provide plug and play options to product startups, reducing the burden of high capex investments. These incubators provide access to shared facilities for startups to support innovative product development and early-stage manufacturing, paving the way for growth and scaling up of the ecosystem. They also act as an interface between the startups and the medium and large-scale companies providing access to pilot facilities for manufacturing, test beds, prototyping facilities design centres and facilitation for technology management, market access and risk capital. Corporates can institutionalize in-house incubators and incubation programs in several ways depending on the resources available to them. The scale and scope of the incubation activities can be customized keeping in mind the goals of the corporate. The first step would be to start with small-scale incubation programs involving small cohorts and gradually work towards setting up a separate entity in the form of a private or non-profit organization with specialized long-term programs. Corporates can determine the extent of collaboration and support they can provide to startups depending upon the resources available to them, scaling up as per needs and requirements. A strong process and framework which allows for technology transfer and technology procurement will lead to a mutually beneficial collaboration between startups and corporates. EmpowerEdge Ventures

🌐 The ACCELERO project is delighted to shine a spotlight on Instituto Pedro Nunes (IPN), one of our valued partners. Based in Portugal, IPN is stepping into the essential role of a Local Ecosystem Builder (LEB), propelling intelligent growth across Europe. 🚀 IPN's work encompasses three significant areas: research and technological development, consultancy, specialised services, incubation, acceleration of tech-based businesses and ideas, and highly specialised training. By creating a link between the scientific, technological environment, and the business sector, they are nurturing an ecosystem that encourages technological progression and economic development. 💼 IPN provides customised support to SMEs, startups, and entrepreneurs through their dedicated labs and programs, which promote innovation activities and support technology-based entrepreneurship. Their unique role in coordinating ESA Space Solutions Portugal integrates space technology with business, leading to enriched innovation and entrepreneurship. 👥 Meet the team from IPN contributing to the ACCELERO Project: Innovation Director Jorge Pimenta, steering innovation strategies; Innovation Manager Carla Duarte, overseeing innovative processes; Project Coordinator Ana Jegundo, managing the project dynamics; and Project Manager Ana Seguro, handling the project's implementation and ensuring its success. ACCELERO is an initiative led by EurA AG, alongside partners EBN - European Business & Innovation Centre Network, bwcon, BIC Innobridge, EuroQuity - Bpifrance, and Krakowski Park Technologiczny | Krakow Technology Park, and with the financial backing of the European Innovation Council and SMEs Executive Agency (EISMEA). The evolution of our journey is deeply woven with the passion and proficiency of professionals in our network. They are more than mere participants - they act as sparks igniting innovation and pillars fortifying entrepreneurship across Europe. Today, we extend our admiration for their unwavering dedication and significant contributions: 🇪🇸 Creacció. Agència d'Emprenedoria, Innovació i Coneixement: Anna Adroher Boada, Anna Maresma, Macià Núria, Meritxell Carbonell Sánchez 🇷🇴 fonduri-structurale.ro / consolid8: Raluca Prelucă 🇧🇬 BUSINESS E-INCUBATOR GO-UP : Rosen Dimov, Assoc Prof, PhD, darina zaimova 🇹🇷 Teknopark İzmir: Efsa Sabit, Metin Tanoglu 🇵🇱 Kielecki Park Technologiczny / Kielce Technology Park: Dorota Kamińska 🇭🇷 Poduzetnički centar Krapinsko-zagorske županije: Helena Matuša 🇵🇱 Poznan Science and Technology Park of Adam Mickiewicz University Foundation: Anna Kromolicka, Roman Niedzielski 🇲🇰 Youth Entrepreneurial Service Foundation: Aleksandar Filiposki, Elena Stojanovikj 🇪🇸 FUNDECYT-PCTEX: Francisco Pizarro Escribano Join us as we carry forward the ACCELERO mission, promoting a diverse and balanced innovation ecosystem across Europe under the #HorizonEU framework. #EUInnovationEcosystems #startups #SMEs

Startups For Railways' Initiative Gains Momentum, 23 Projects Worth Rs 43.87 Crore Awarded To Startups The startup initiative in the rail sector has gained momentum with a total 1,251 entities registered on the Indian Railways Innovation Portal to participate in various innovation challenges, of which 23 projects worth Rs 43.87 crore have been awarded. The Indian Railways has taken an important initiative in the field of innovation through the participation of start-ups and other entities. “Startups for Railways" initiative was launched by Ministry of Railways on 13 June 2022. As part of this initiative, the Indian Railways Innovation Portal is available at https://lnkd.in/edknPbA5 Ministry of Railways aims to address quality, reliability, and maintainability-related issues of the Indian Railways. Under the policy, the startup/MSME/innovator/entrepreneur will have exclusive ownership of intellectual property rights (IPR) created in the project. According to the Railways, the value of 23 awarded projects is approximately Rs 43.87 crore. The total number of entities registered on the Innovation Portal is 1,251 out of which 248 are startups, 671 are individual innovators, 142 are MSMEs, 58 are R&D organisations/institutes, 47 are proprietorship/partnership firms/companies/JV/consortiums, 19 are NGOs, and 66 others.