AIC-IIITH Foundation inaugurated
Inauguration done by Somesh Kumar, Chief Secretary, Government of Telangana
Hyderabad: Mr. Somesh Kumar, Chief Secretary inaugurates AIC-IIITH Foundation. It was inaugurated during the first T-Social Impact Confluence organized by TSSN today.
Shri Somesh Kumar, Chief Secretary, Government of Telangana along with other dignitaries including Shri Jayesh Ranjan, Principal Secretary Dept of Industries, Dr. B. Janardhan Reddy, Secretary to Government, Dept. of Agriculture and Ravi Narayan, CEO, T-Hub Hyderabad formally inaugurated AIC-IIITH Foundation as part of the first T-Social Impact Confluence organized by T-Social Startups Network (TSSN) at AIC-IIITH space.
AIC-IIITH Foundation is an Atal Incubation Center set up exclusively for incubating and supporting tech-based social enterprises.
AIC-IIITH provides incubation support to Social Startups with dedicated newly furnished 10,000 sq ft of Coworking space and facilities.
AIC-IIITH’s 23 social enterprises have raised Rs. 12 Cr, generating revenue of Rs. 2.7 Cr, created 380 employment in social impact sectors like Environment, Health, Education and Livelihoods.
TSSN is a city-wide initiative for the Social Impact Ecosystem being created under the Telangana State Innovation Cell (TSIC) and anchored by AIC-IIITH Foundation. On this occasion Shri Somesh Kumar congratulated AIC-IIITH and said, “I hope that in this financial year this whole sector in Telangana is going to grow and that we will be able to attract the best of talent.”
AIC-IIITH has recently completed renovation of 10,000 sq ft of coworking space and facilities dedicated for Social Enterprises. This space includes facilities for Startups like Events room and meeting rooms and is ideal for Social Startups looking for support in the Build Back Better phase of COVID Pandemic.
AIC-IIITH through its various startup support programs has supported 23 social enterprises leveraging technology to create social impact in sectors including but not limited to Education, Environment, Fintech, Healthcare and Livelihood. These startups have so far raised over INR 12 Cr in funds and created over 380 jobs.
In 2019, as part of its larger innovation initiatives, IIITH with support from AIM, NITI Aayog, started AIC-IIITH, a new incubator focused on startups leveraging technology to create social impact. Applied research is a major focus for IIITH, with an active initiative around research-led innovation through its Center for Innovation and Entrepreneurship (CIE). CIE runs one of the largest academic startup incubation endeavors in India started in 2008 with initial funding from DST and MeitY.
Ramanan Ramanathan, Mission Director, AIM, NITI Aayog, which supports AIC-IIITH Foundation graced the event virtually and said, “Its Social Enterprises who can bring the power of innovations and technology to Society.”
Prof. Ramesh Loganathan, Director of AIC-IIITH invited the Social Startups to “join the AIC-IIITH family and help the country recover from the COVID-19 pandemic and put us back on the path to achieving the UN Sustainable Development Goals.”
Mr Rajkumar Janagam, CEO AIC-IIITH highlighted the work done by AIC-IIITH pointed out that, “despite the difficult environment AIC-IIITH supported Startups have raised Rs. 12 Cr in funding, provided employment for over 380+ and have revenue of Rs. 2.7 Cr while making an impact in diverse fields like Environment, Health, Education and Livelihoods.”