IIT KGP partners with z21 Ventures for startup accelerator programme
Times of India | 28 November 2024
Kolkata: IIT Kharagpur has collaborated with z21 Ventures, a venture capital firm to develop a startup accelerator programme for budding entrepreneurs among UG and PG final year students of the institute.
As part of the memorandum of understanding (MoU), the firm will invest around Rs 2.5 crore in the project. Students, split into 10 teams, will receive access to funding, mentorship and other resources to implement their business ideas and launch startups. About Rs 25 lakh will be allocated to each team.
Raj Singh, an alumnus of the institute and a partner of the firm, said, "Currently, there are fewer than 20 unicorns with roots at IIT Kharagpur, including Persistent Systems, Rubrik, Innovaccer and Swiggy. Our goal is to supercharge that number to 100 in coming years."
"By providing a strong community and the vital capital boost, we want to empower our students to dream bigger and transform the world with their ideas," said Virendra Kumar Tewari, director, IIT KGP.