Page 388 - Annual Report

TBI (Technology Business Incubator) 2018-19

• 6 New Projects were inducted for incubation (four are from VIT students and alum)
• • 11 companies under incubation
Araciv Technologies Pvt.Ltd) has raised a crowd funding of USD 50000
• Renaura wellness , Araciv technologies and Alfaleus have launched their products in the
market
• Findmind Analytics got an cash award of Rs.15 Lakhs from Fullerton India and got work
assignment for two years
• Prayasta 3D inventions Pvt.Ltd has raised a BIG grant of Rs.50 Laksh from BIRAC
• Bariflo, Punar and Ashva wearable technologies raised a grant of Rs.10 Lakhs each under
PRAYAS from VITTBI
• Alfaleus was provided with a seed fund of Rs.40 Lakhs from VITTBI

BIRAC-Seed Fund Scheme
• Rs.2 Crores was sanctioned and Rs.1 Crore was received during Dec’18
• Seed Fund to Biotech ventures- Rs.30 Lakhs grant / venture against equity- max.10%

• DST NIDHI-PRAYAS CENTRE @ VITTBI
Commenced its activities from Aug’18
• Total Grant: Rs.6 Crores (Rs.1.20 Crores / Year)
• Objective: to support young and aspiring innovators and entrepreneurs through grant
funding
• Max. Amount: Rs.10 Lakh / Idea
• Three projects were sanctioned (~Rs.30 Lakhs) during Nov’18 and remaining would be
supported before Aug’19

BioNEST Bioincubation Facility - Rs.4.55 Cr

Vellore Institute of Technology – Annual Report 2018-19
www.vit.ac.in

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