IIT Hyderabad's iTIC Incubator, Greenko launch BUILD to prop startup dreams of recent grads

HYDERABAD: The iTIC Incubator at IIT Hyderabad, in collaboration with Greenko Group, launched a new project called Bold & Unique Ideas Leading to Development (BUILD) on the occasion of World Environment Day on June 5, 2023.

The primary objective of BUILD is to assist undergraduate students and recent graduates in shaping their unique ideas and eventually turning them into a start-up.

The program was launched at IIT Hyderabad by Dr Anil Chalamalasetty, MD and CEO, Greenko Group and Prof B S Murty, Director, IIT Hyderabad, in the presence of Dr A S Kiran Kumar (former Chairman, ISRO), Faculty of IITH and Partner Incubators.

The iTIC Incubator at IIT Hyderabad inked an MoU with 14 incubators across India to promote the BUILD programme and scout, shortlist, and support 75 innovators as part of this project. i-TIC Incubator has launched a national call for applications on its website. Benefits to selected innovators include financial aid of up to Rs 1 lakh, mentorship, prototyping support and co-working space.

Following the completion of the 12-month course, innovators may be eligible for pre-incubation support and other incentives from the iTIC Incubator at IIT Hyderabad.

Prof B S Murty, Director IITH, said, “BUILD scheme has been in place at IITH for its own students for the past 3 years. After building the Technology Innovation Park (TIP) with about 1.5 lakh sqft, we felt that it is time for us to extend the BUILD program to the whole nation. With Innovation as its DNA, IITH believes in developing job creators instead of job seekers. By supporting such innovators from their student days, the BUILD Scheme provides a suitable platform for these young innovators to convert their ideas into successful products, thus aiding our urge towards making India self-reliant (Atmanirbhar) and a global leader.

Dr Anil Chalamalasetty, MD and CEO, Greenko Group, added, “BUILD program represents a remarkable milestone in our collective journey towards creating a vibrant ecosystem that nurtures and amplifies the innovation and creative genius of our youth. The BUILD program is a testament to our unwavering belief in the power of ideas.’’

Dr A S Kiran Kumar, (former Chairman, ISRO) congratulated iTIC Incubator at IIT Hyderabad and Greenko Group for such a unique initiative and said, “BUILD program is like seeds of growth and initiatives like this are vital to support which will turn into branches and eventually trees.’’