NewsVoir
Jaipur (Rajasthan) [India], October 27: In a major boost to Rajasthan's startup ecosystem, the JECRC Incubation Centre (JIC) of JECRC University, Jaipur, has announced the state's largest-ever funding initiative in collaboration with the Ministry of Electronics and Information Technology (MeitY) Startup Hub, Government of India.
Under this landmark partnership, 12 of Rajasthan's most promising startups will collectively receive funding support worth Rs. 1.8 crore.
The initiative is specially designed to strengthen the startup landscape of Rajasthan, with a focus on fostering innovation and entrepreneurship in Tier-2 and Tier-3 cities.
For the first time, prestigious national programs such as GENESIS and TIDE are being launched within a state-level technical university creating a "Shark Tank" like platform for emerging entrepreneurs to pitch and grow their ventures.
Startups will receive funding based on their stage of development from idea validation to prototyping and achieving market fit. A multi-level funding mechanism has been introduced to accelerate growth across these stages.
Under TIDE 2.0, four startups will receive grants of Rs. 7 lakh each. Additionally, under the GENESIS program, startups will be supported according to their maturity level up to Rs. 10 lakh for Early Idea (EIR), up to Rs. 40 lakh for MVP/Pilot Stage and up to Rs. 50 lakh for Investment/Scale-Up Stage.
The opportunity is exclusively open to Rajasthan-based startups including both individual innovators and DPIIT-registered startups with at least 51% Indian ownership.
The JECRC Incubation Centre not only extends financial assistance but also aims to create a transformative impact on the entrepreneurial landscape of smaller cities empowering startups from Rajasthan to compete on a global stage.
Over the past five years, JIC has supported more than 80 startups with cumulative funding exceeding Rs. 8 crore, along with providing state of the art facilities such as co-working space, investor connect, pilot connect and industry partnerships.
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