SPPU research park secures seed funding of Rs 5 cr from Startup India

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SPPU research park secures seed funding of Rs 5 cr from Startup India

Pune, 4th July (KNN) Seed funding of Rs 5 crore has been received by Savitribai University Phule Pune SPPU Research Park Foundation to help develop startups.

The SPPU Research Foundation secured the fund through the Seed Fund Scheme under the central government’s Startup India scheme.

These funds will enable selected startups to scale. Only start-ups registered with the Department of Industrial Policy and Promotion (DIPP) can apply for the funding. Companies over two years old will not be able to apply.

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Apoorva Palkar, director of the Center for Innovation, Incubation and Linkages, said start-ups can apply for concept, product development, product testing, market entry and commercialization. .

“The applications received will be examined by a committee of experts. Applicants will be notified of the outcome within 45 days. About 20% of the funds will be provided to early-stage start-ups, while the rest will be converted into debentures,” she added.

The Center for Innovation, Incubation and Collaboration and the Research Park Foundation at Savitribai Phule Pune University provide start-up guidance to students and help them innovate. (KNN Office)

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