Panjab University incubated Women-led Deep-tech Startup AFMTech gets ₹12 lakh Commercialisation Grant; Takes Technology Towards India’s Semiconductor Ecosystem

Chandigarh, September 9, 2026: Panjab University (PU), Chandigarh, faculty-led and women-led deep-tech startup, Advanced Functional Material Technologies Private Limited (AFMTech), has been awarded a Rs. 12 lakh commercialisation grant to accelerate the development and market deployment of its indigenous high-purity sputtering targets for advanced materials and semiconductor-related applications.
The award was presented in the presence of Governor of Punjab and Administrator, UT Chandigarh, Shri Gulab Chand Kataria. AFMTech was formally incubated at the Panjab University Incubation Centre (PUIC), which has been established with support from RUSA 2.0
Director and Founder, AFMTech, Dr. Sanjeev Gautam stated that “This grant is an important transition point for AFMTech,from technology development to structured commercialisation. Our objective is to build an indigenous Target-to-Film platform that enables Indian laboratories, technology developers and industries to access customised sputtering targets, advanced materials and thin-film solutions.”
PU Director, Research & Development Cell Prof. Savita Gupta stated that “Our University is committed to transforming innovative ideas into impactful solutions. Securing this research grant through the Incubation Centre will not only strengthen our research ecosystem but will also enable our faculty and students to contribute meaningfully to Atmanirbhar Bharat and nation building."
PU Vice Chancellor Prof. Meenakshi Goyal stated that “PU is committed to building an ecosystem where innovative research does not remain confined to laboratories but is transformed into technologies of national relevance. AFMTech reflects our vision of empowering faculty-led deep-tech entrepreneurship and creating indigenous solutions for strategically important sectors.” She further stated that “This achievement is a significant step towards strengthening PU’ contribution to Atmanirbhar Bharat and India’s semiconductor ambitions.”
The commercialisation programme will focus on sputtering-target development, quality assurance, thin-film validation, customer pilots, product standardisation, AI/ML-enabled process optimisation and market development.
AFMTech’s broader vision is to establish an indigenous “Target-to-Film” technology platform that connects customised material development and sputtering targets with thin-film deposition, characterisation, prototyping and eventual commercial applications.