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Start-up From SINE IIT Bombay Get Funded At India Innovation Championship Hosted By Chitkara University

The victorious start-up that attracted investment, 'Pacify Medical Technologies Pvt Ltd' has developed a patent-pending skin spray gun that serves large wound coverage by spraying stamp-sized skin

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Transcontinental Times Staff
Transcontinental Times Staffhttps://www.transcontinentaltimes.com
Submissions filed under "Staff" are acredited to their authors at the bottom of the article if any.

INDIA: With a mission to foster interesting innovations, India Innovation Championship (IIC) attracted the youth to come forward and take part. Chitkara University recently conducted the finale of the ‘India Innovation Challenge- 2021’ – one of the largest funding fest and University driven platforms for upcoming start-ups.

India Innovation Championship has been designed and curated to provide the innovators and thinkers an opportunity to compete in a grand event to get mentored for their new & novel ventures by fast-tracking impact savvy innovations. The Championship is open to innovators, entrepreneurs, inventors, and academicians from any background.

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Read also: One Man’s Vision To Help Aspiring Entrepreneurs

Incubated at the prestigious ‘Society for Innovation and Entrepreneurship (SINE)– IIT Bombay, the winning start-up that attracted investment, ‘Pacify Medical Technologies Pvt Ltd’ has developed a patent-pending skin spray gun that facilitates large wound coverage by spraying stamp-sized skin.

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Curated by Chitkara University Centre for entrepreneurship and education development-CEED- & coached by Orbit Future Academy, and backed by seasoned angel investors, VC partners SucSeed Innovation Fund (Hyderabad) & Modular Capital, accelerator partner 100 Watts (Pune), industry bodies like FICCI & MeitY start-up hub, the Government of Himachal Pradesh, Chitkara University’s Research and Innovation Network (CURIN) and Chitkara University NEW Gen-IEDC, the challenge was curated to drive entrepreneurship and speed up promising Research, Innovation, Demonstration and Development (RID&D) in technology, across India. 

The ‘India Innovation Championship’ (IIC)- 2021 grand finale witnessed the raising of fund by following startups :

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1. ‘Pacify Medical Technologies Pvt Ltd,’ a start-up incubated at the prestigious ‘Society for Innovation and Entrepreneurship (SINE), IIT Bombay’ in January 2019, receiving the seed funding. The winning start-up, ‘Pacify Medical Technologies’ has developed a patent-pending skin spray gun that enables large wound coverage by spraying stamp-sized skin. The start-up founder and CEO, Saiprasad Poyarekar, a graduate from IIITDM Kancheepuram, shared that the start-up was incubated in January 2019.

2. ‘eSaathi’is another startup a startup built by Tushar, Mann, Anuprava & Shubham, B.Tech final year students of IIT Kharagpur which has successfully raised finding at IIC 2021 finale. eSaathi is is an interactive assistive user interface platform which can audio-visually guide the technophobes in step-by-step using apps like Paytm or Uber in the regional languages of their choice.

3. 3RUrban Solutions India Pvt. Ltd, is startup from Pune, incubated by Chitkara Innovation Incubator has also raised funding at IIC 2021. They have made a fully automatic composting machine designed for rapid composting performance to convert all organic waste into compost with a capacity of 2 KG to cater household market. Mr Abhishek Chakranarayan and Ravi Kapila, founders of 3RUrban Solutions India Pvt. Ltd said that they also have plans to develop A 5 Kg/day and a 10 Kg/day machine also to cater to small establishments like restaurants and coffee shops etc.

  1. “This life matters Pvt. Ltd.” is another start-up from Chitkara Innovation Incubator who has successfully raised funding at IIC 2021.Their product ‘Tea Kombucha’ is a dairy-free option and is better for vegans and the lactose-intolerant.Tea Kombucha is rich in beneficial probiotics, provides antioxidants.

Other notable innovations which got accolades and have potential to raise funding in future are:

  1. ‘OZONE’ a startup by Dr G S Rampradheep from Kongu Engineering College, Tamilnadu.
  2. ‘LEARN KANNADA SMARTAPP’ a startup by Varun A M from Bengaluru.
  3. ‘HVA Energy’ a startup by Rupesh Suresh,University of Florida, USA.
  4. ‘Oro-Shield’ a startup by Varinder Singh Chitkara College of Pharmacy, Chitkara University, Punjab, India
  5. 6DOF Solutions- learn O Little app- AR/VR based. Chitkara Innovation incubator.
  6. Foreio innovation pvt ltd- e stretcher, a portable bed cum stretcher for patients, by Ashsih Gera- New Delhi.

Saiprasad Poyarekar, when asked about his experience of participating in IIC – 2021, shared, “The program helped me to understand the nuts & bolts of how to raise funding for a technology start-up like us. The recorded video sessions help me to improve my knowledge of all aspects of fundraising. The one-to-one sessions with Mentor’s like Nalin Singh from Orbit helped me nourish my skills.”

Read also: Smart Mobility: A Japanese Startup Aims High For The Sky

Since its launch in October 2020, the ‘India Innovation Challenge – 2021’ received a record 460 applications from the progressive sectors ranging from fintech, agri-tech, ed-tech, waste management solutions to the health sector. Only 23 start-ups qualified for the stringent screening and were allowed to ‘Pitch and Present’ their ideas to a panel of 10 After intense competition, ‘Pacify Medical Technologies Pvt Ltd’ attracted investor confidence and emerged victoriously.

Chitkara University and a panel of investors from Orbit Future Academy made 50 lacs rupees on spot investments to start-ups from across the cities and incubators from India. Govt. grants up to 20 lac rupees for prototype development & product commercialization were also awarded by the panel of jury members to star-ups from India and abroad.

The IIC 2021 finalists included participating teams from institutions of national and international reputation including, IIT Mumbai, IIT Kharagpur, Panjab University, Chitkara University, IIT Patna, Sher-e-Kashmir University of Agricultural Sciences and Technology (Kashmir), Kongu Engineering College (Tamil Nadu), Pimpri Chinchwad College of Engineering (Pune), University of Florida-USA, SR University (Warangal), North Eastern Regional Institute of Science and Technology (Itanagar), and start-ups from Bengaluru & Indore.

Nalin Singh, CEO & Co-founder Orbit Future Academy, Indonesia, applauding Chitkara University’s efforts to promote entrepreneurship shared, “Chitkara University has made a lot of contributions in developing a promising entrepreneurial ecosystem in India”. 

Dr. Madhu Chitkara, Pro-Chancellor, Chitkara University, while applauding the winners, participants, event organizers, shared that “Chitkara University has a pan-India vision to support entrepreneurship & innovation while acknowledging other’s efforts & creativity.”.

Concluding the event and delivering the vote of thanks, Sumeer Walia, Program Director-IIC 2021 and Director CEED Chitkara University-Punjab stated, “The leadership. Chitkara University has once again proved that their vision is global for entrepreneurship development at their campuses.”

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