Amrita University’s incubation centre to invest $120,000 in four start-ups

Preksh Innovations, B2BSphere, Meladath Auto Components, and MaaxMarket have been shortlisted out of 702 start-ups


According to the Amrita University’s incubation centre, it has so far mentored 181 start-up ideas, built 31 products, filed for five patents and trained 6,700 students, and incurred zero loss from its investments.
According to the Amrita University’s incubation centre, it has so far mentored 181 start-up ideas, built 31 products, filed for five patents and trained 6,700 students, and incurred zero loss from its investments.

Chennai: Four start-ups have won seed funding worth a total of $120,000 (Rs.80 lakh) from Amrita Technology Business Incubator (TBI), supported by the central government and Amrita University.

The start-ups—Preksh Innovations (e-commerce), B2BSphere (e-commerce), Meladath Auto Components and MaaxMarket (social media marketing)—were shortlisted out of 702 start-ups from all over India through the incubator’s annual PitchFest event, organized in partnership with the central government, NASSCOM 10K (Nasscom India’s initiative for start-ups), Asia’s largest network of angel investors Indian Angel Network and job portal FreshersWorld.

“Amrita TBI has grown to be amongst the top-five most prolific start-up incubators due to our commitment to promote ground-up innovation, creativity and entrepreneurship,” said Dr. Krishnashree Achuthan, chief executive of Amrita TBI in a statement.

The university’s incubation centres function out of its Kollam, Coimbatore and Bengaluru campuses. The centre had signed a pact with Indian Angel Network in September 2015.

According to the Amrita University’s incubation centre, it has so far mentored 181 start-up ideas, built 31 products, filed for five patents and trained 6,700 students, and incurred zero loss from its investments.