MeitY grants Rs 2 crore funding to 5 startups incubated at BIMTECH AIC

The Ministry of Electronics and Information Technology (MeitY) has granted Rs 2 crore in funding to five startups incubated at the Atal Incubation Centre (AIC) of the Birla Institute of Management Technology (BIMTECH) under the SAMRIDH program.

The initiative reflects India’s commitment to fostering innovation and entrepreneurship, supporting the vision of Viksit Bharat 2047.

The five startups receiving funding—Cunomial, Credit Siddhi, Origin Connect, Transport Simple, and Vacus—are part of a cohort of eight supported by AIC-BIMTECH under the SAMRIDH program.

Collectively, these startups have achieved an aggregated valuation of Rs 75 crore.

The SAMRIDH program, launched by MeitY, aims to accelerate the growth of startups by providing financial support and nurturing innovation across sectors. 

Leadership comments

Dr. Prabina Rajib, Director, BIMTECH, said, "SAMRIDH program has been instrumental in enabling BIMTECH to further this mission by providing resources and insights tailored to the unique needs of early-stage ventures. Our researchers and faculty actively contribute to building a knowledge foundation that startups can draw upon to make informed decisions, innovate more effectively, and stay ahead in competitive markets. BIMTECH is committed to creating a thriving entrepreneurial ecosystem where startups can grow with a strong foundation in research, continuous learning, and a passion for meaningful impact." 

Dr. Shalini Singh, Chairperson; Center for Innovation & Entrepreneurship Development and Acting CEO of AIC BIMTECH, sheds light by stating “At AIC BIMTECH, we provide comprehensive support for startups offering not just soft infrastructure and co working spaces but also invaluable mentorship, extensive networking, opportunities for market access, investor connections, and a range of business development activities. This approach ensures that startups are equipped with the right tools and resources to scale their operations, innovate, and thrive in an ever-evolving market landscape.” 

Empowered 400 startups

AIC BIMTECH has supported around 400 startups and established more than 200 partnerships, fostering a vibrant incubation environment.  

Birla Institute of Management Technology has also empowered these startups to accelerate their growth by providing tailored mentorship, strategic business networking, team-building support, investor relations, and helping them secure the resources essential for scaling. 

The eight startups supported by AIC BIMTECH are Cunomial, Credit Siddhi, Origin Connect, Transport Simple, Vacus, Fabrik, Detrocel, and Ecotio. Notably, these startups are making notable progress in their respective fields, fostering innovation, creating Job opportunities, generating revenue, and making a significant impact on India’s economy.