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Nine IIM Sambalpur Startups Receive Rs 40 Lakh Seed Funding
IIM Sambalpur celebrated its 12th Foundation Day on Saturday.
It also began its yearly business meeting, called Marmagya 11.0.
The meeting is about handling business change in a connected world.
Director Mahadeo Jaiswal said the institute has helped 35 startups get started.
Nine of those startups received seed grants.
Each received Rs 5 lakh, for a reported total of Rs 40 lakh.
The institute also gave awards to 10 BS students and 16 MBA students.
Four startups led by alumni signed agreements to join the institute’s incubation programme.
IIM Sambalpur celebrated its 12th Foundation Day on Saturday.
The institute inaugurated the 11th edition of its business conclave, Marmagya 11.0.
Director Mahadeo Jaiswal said the institute has incubated 35 startups.
Nine incubated startups received seed grants of Rs 5 lakh each, totaling Rs 40 lakh.
Ten BS students and 16 MBA students received plaques and Rs 1 lakh each; four alumni-led startups signed incubation MoUs.
- Who
- IIM Sambalpur, its incubated startups, students and alumni-led startups.
- What
- The institute marked its 12th Foundation Day, opened Marmagya 11.0 and announced seed funding for nine startups.
- Where
- IIM Sambalpur’s campus.
- When
- Saturday; Marmagya 11.0 is being held on October 3 and 4.
- Why
- The Foundation Day event was held on the theme “Societal Impact of B-Schools”; Marmagya 11.0 focuses on business disruption and turbulence in an interconnected world.
Key facts
- Foundation Day
- 12th
- Business conclave
- Marmagya 11.0, the 11th edition
- Startups incubated
- 35
- Startups receiving seed grants
- 9
- Grant per startup
- Rs 5 lakh
- Total seed funding reported
- Rs 40 lakh
- Student award recipients
- 10 BS students and 16 MBA students; Rs 1 lakh each
- Alumni-led startups
- Four signed incubation MoUs
Sources
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