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DPIIT selects AIC-Pinnacle Entrepreneurship Forum for Rs 45 mn grant under SISFS
Hyderabad, Aug 22 (KNN) Atal Incubation Centre (AIC) -Pinnacle Entrepreneurship Forum will be receiving a grant of Rs 45 million under Startup India Seed Fund Scheme (SISFS) created by the Department for Promotion of Industry and Internal Trade (DPIIT).
AIC-Pinnacle Entrepreneurship Forum is an incubation and investment platform supported by Atal Innovation Mission, NITI Aayog, Ministry of MSME, and Ministry of Electronics and IT.
Speaking about the development, Dr. Sudhir Mehta, Founder, AIC-Pinnacle Entrepreneurship Forum, and Chairman of Pinnacle Industries & EKA, said, “We’re extremely grateful to DPIIT for such innovative and supportive schemes to establish and assist the startup ecosystem in India. It’s indeed an achievement for us to be selected under SISFS.”
“It will work as a catalyst for us to achieve our goal of creating a vibrant and high-impact entrepreneurial ecosystem focused on innovation, incubation, and investment in key sectors,” added Mehta.
Through this assistance, AIC-Pinnacle aims to incubate and provide financial assistance to 19 early-stage startups over the next three years.
So far, it has facilitated over Rs 80 million to 56 startups across sectors like Automotive, Electric Mobility, Agritech, IT/IoT/AI, Clean Energy, Health-Tech, Social Innovation and other emerging areas.
“With the SISFS grant, we look forward to supporting the startups fr0m tier-2 and tier-3 cities that are willing to address the ground-level issues of “Bharat”—where 70 per cent of Indians reside, and the next-generation entrepreneurs will come fr0m,” he said.
AIC-Pinnacle Entrepreneurship Forum is a part of Pinnacle Industries Limited, a diversified group of companies in auto components, electric vehicles, retail store solutions, and financial and engineering services. (KNN Bureau)
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