Three startups receive funding from the government
Aurangabad, April 21:
The Bajaj Incubation Center at the Dr Babasaheb Ambedkar University has ranked second in the State for making rapid progress and innovative concepts. The center is making special efforts for creating an entrepreneurial friendly environment among the youths of Marathwada.
Giving more information, incubation director Dr Sachin Deshmukh said that out of the innovative concepts received by the center in the current financial year, 21 startups have entered into agreements and recently the government has also provided incentive funds to three startups. This includes the startup of an engineering graduate student from Marathwada who has made a device to fill the potholes by mixing asphalt and stone to repair the asphalt road immediately. This will save time as well as the manpower required to melt the asphalt, spray it on the road and put stones on it. The startup was honored with a grant of Rs 30 lakh at a function organized by the union ministry of social justice on the occasion of Dr Babasaheb Ambedkar Jayanti. Apart from this, student Abhilash Goje has started a startup called 'Khana Anywhere'. The startup works to deliver cheap and hygienic food to the students who have come to the city for college education and preparing for competitive exams. Suresh Soramare, a student, started a startup 'Sehat Easy' that gives discounts on medicines and books appointments in hospitals or with doctors. Both startups have received funding from the Maharashtra State Innovation Society.
How does the center work
The technical team at the incubation center reviews the startups. If the concept qualifies to be transformed into an industry, it is guided by experts. After completing the project reporting and marketing guidance, it is then recommended to some organizations and entrepreneurs for funding and starting a business. Since, the government or the private sector do not provide financial assistance without the recommendation of the incubation center, such centers have gained importance.