The first-ever “Nirmaan Demo Day 2024” showcases student innovations at the IIT Madras Pre-Incubator
INN/Chennai, @Infodeaofficial
To highlight the student inventions backed by Nirmaan, a pre-incubator on campus that strives to inspire young innovators and mentor them in turning their ideas into market-ready solutions, IIT Madras organised the inaugural “Nirmaan Demo Day 2024.” Nirmaan links students to practical entrepreneurial support through a strategic partnership with the IIT Madras Incubation Cell, assisting in the transformation of their ideas into viable businesses.
At “Nirmaan Demo Day 2024,” which the Institute wants to make an annual event, a total of thirty start-ups at the idea stage from various industries, including AI, Healthtech, Deeptech, and Sustainability, showcased their innovations to investors, industry professionals, and the IIT Madras community.
Today, September 27, 2024, saw the opening of Nirmaan Demo Day 2024, which was presided over by Prof. V. Kamakoti, Director of IIT Madras. Those present included Mr. Navratan Kataria, Director of Startup Engagement & Innovation Ecosystem at NASSCOM Centre of Excellence for AI & IoT; Prof. Sathyanarayana N. Gummadi, Dean of Students at IIT Madras; Prof. Prabhu Rajagopal, Advisor (Innovation and Entrepreneurship), IIT Madras; and students and faculty members.
“The inaugural Demo Day is a key milestone for our pre-incubator, and we are thrilled to showcase the talent, creativity, and drive of our student entrepreneurs,” Prof. V. Kamakoti, Director, IIT Madras, remarked in an address to the students during this occasion. This occasion demonstrates IIT Madras’ dedication to encouraging creativity and providing our students with a forum to influence the future.
Demo Day will act as a springboard for these emerging companies, giving them a chance to interact with investors, business savvy individuals, and possible partners, according to Prof. V. Kamakoti. We cordially encourage everyone to visit and experience directly the inventive spirit that is unique to Nirmaan and IIT Madras.
In over 85 fields, Nirmaan is now supporting student-led start-ups. Up to 26 Start-Ups have already completed the program, raising more than Rs. 108 Cr in venture capital and achieving a combined valuation of over Rs. 1,000 Cr. Urban Matrix, Modulus Housing, Tan90, Tocal, Infyu Labs, Involve, Melvano, Susstains, GIMS, Plenome Technologies, Prescribe, and Galaxeye Space are a few of the prosperous Nirmaan alumni. Galaxeye Space recently secured Rs. 17 Crore from Infosys.
Prof. Prabhu Rajagopal, Advisor (Innovation and Entrepreneurship), IIT Madras, emphasised the significance of these kinds of events in transforming students into job creators and entrepreneurs: “At Nirmaan, we work to catalyse faculty and student innovations into market-ready prototypes and start-ups.” under the motto “IITM for all,” in line with the director, Prof. V. Kamakoti’s vision. We are now offering our support services to teams in the surrounding area who want to get in touch with IIT Madras.
“Our one-year program includes two six-month cohorts, including the training and market discovery phase Prathm and the formal pre-incubation phase Akshar,” Prof. Prabhu Rajagopal continued. With over 85 active teams throughout our cohorts, Nirmaan has had a very busy past year. We are thrilled to present these teams’ accomplishments during our inaugural Demo Day this year. The purpose of the event is to give all interested parties—faculty, VC community members, and innovators—a sneak peek at our work.
Nirmaan distinguishes itself by offering prospective entrepreneurs special options. With its designated workspace, focused mentoring, and tailored training courses like “Pratham” and “Akshar,” Nirmaan provides students with a safe space to explore, invent, and refine their ideas. Accepted at the idea stage, startups take part in the eight-week Pratham program where they receive guidance on business development from seasoned entrepreneurs and industry experts. They get a seed money for this program, which they can use to develop a business plan, carry out market research, and produce a minimal viable prototype.
After that, startups move on to the Akshar program, where they can get more money and assistance to develop, release, and test-market their products. Additionally, Nirmaan connects new businesses with a network of seasoned mentors who can offer advice at every stage of their entrepreneurial journey. With its wealth of tools, mentorship, and secure environment for concept exploration, Nirmaan is IITM’s premier platform for startup creation.
STUDENT’S PERSPECTIVE
Mr. Yuvraj Thakur, Student Head, Nirmaan-IIT Madras, shared his perspective on “Nirmaan Demo Day 2024,” saying, “We (students) are balancing our academic pursuits with building their Start-Ups.” We can develop our ideas and consider entrepreneurship as a career in a friendly environment at Nirmaan. The startups who showcase their concepts on Demo Day have been developing their discoveries and producing goods that are viable for the market for years. Through our pre-incubation program, we hope to foster in students a spirit of entrepreneurship and mentor them as they take their initial steps towards being self-employed.
The founder of Clueso Start-Up, Mr. Akash Anand, an IIT Madras student, stated, “Nirmaan has been an invaluable partner in our journey from concept to a thriving startup.” Our success has been greatly attributed to their all-encompassing support, which includes financial assistance, technical guidance, and access to a network of seasoned mentors. We gained valuable skills from the sessions, and the cutting-edge facilities provide the perfect setting for creativity and development. Clueso became a profitable company from only an idea because of Nirmaan.
The founder of Nexuscare Start-Up, Mr. M. Nithin Maloth, an IIT Madras student, stated, “I have been with Nirmaan from the very beginning and have seen it evolve into a model of excellence.” “Medlock,” which is now registered as “Nexuscare,” has greatly benefited from the Nirmaan team’s unwavering support. For any entrepreneur, Nirmaan is the ideal place to start. The route of a founder is usually lonely and confusing, but with Nirmaan, it has been a clear and cooperative one.
Krishaka Start-up was started by Mr. Easwar Veeragandham, a student at IIT Madras. He stated, “Krishaka has been part of the Nirmaan for the past two years.” We received essential field contacts, funds for development, manufacturing help, and mentoring from Nirmaan. Their arranged discussions with seasoned business professionals enhanced our understanding and directed our development. Krishaka’s constant dedication to innovation allowed them to transform concepts into a workable business.