Chennai: The Indian Institute of Technology Madras (IIT M) organised the first ever ‘Nirmaan Demo Day 2024’ to showcase the student innovations supported by Nirmaan, a pre-incubator on campus that works to empower young innovators and guide them in transforming their ideas into market-ready solutions.
Thirty start-ups in various industries such as AI, healthtech, deeptech, and sustainability showcased their concepts to investors, industry professionals, and the IIT Madras community while they were still in the idea stage. This will now be an annual event, according to the institute.
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 crore in venture capital and achieving a combined valuation of over Rs. 1,000 crore.
Some of the successful graduates of Nirmaan include Urban Matrix, Modulus Housing, Tan90, Tocal, Infyu Labs, Involve, Melvano, Susstains, GIMS, Plenome Technologies, Prescribe, and Galaxeye Space, which recently raised Rs. 17 crore from Infosys.
Student Experiences
Sharing his experience on ‘Nirmaan Demo Day 2024’, Akash Anand, an IIT Madras student who founded Clueso Start-Up, said, “Nirmaan has been an invaluable partner in our journey from concept to a thriving startup. Their comprehensive support, including technical assistance, financial aid, and access to a network of experienced mentors, has been instrumental in our success. The workshops provided us with essential skills, and the state-of-the-art infrastructure offered an ideal environment for innovation and growth. Thanks to Nirmaan, Clueso transformed from a mere idea into a successful business.”
M. Nithin Maloth, an IIT Madras student who founded Nexuscare Start-Up, said, “From the very beginning, I have been with Nirmaan and have seen it evolve into a model of excellence. ‘Medlock’ (now registered as ‘Nexuscare’) has benefitted immensely from the steadfast support of the Nirmaan team. I recommend Nirmaan as the perfect starting point for any entrepreneur. The founder’s journey is typically solitary and perplexing, but with Nirmaan, it has been a collaborative and clear path.”
Easwar Veeragandham, an IIT Madras student who founded Krishaka Start-up, said, “Krishaka has been part of the Nirmaan for the past two years. Nirmaan provided us with invaluable mentorship, field contacts, manufacturing support, and prototyping funding. Their organised talks with industry veterans enriched our knowledge and guided our growth. Thanks to their unwavering commitment to innovation, Krishaka could turn ideas into a feasible business.”
Nirmaan Demo Day 2024 was inaugurated today (27th Sept 2024) by Prof. V. Kamakoti, Director, IIT Madras, in the presence of Guest of Honor Dr. Srikanth Sundararajan, General Partner, VentureEast, Mr. Navratan Kataria, Director (Startup engagement & Innovation Ecosystem), NASSCOM Centre of Excellence for AI & IoT, Prof. Sathyanarayana N. Gummadi, Dean (Students), IIT Madras, Prof. Prabhu Rajagopal, Advisor (Innovation and Entrepreneurship), IIT Madras, students and faculty.
Addressing the students during this event, Prof. V. Kamakoti, Director, IIT Madras, said, “We are thrilled to showcase the talent, creativity, and drive of our student entrepreneurs. Demo Day will serve as a launchpad for these young startups, offering them an opportunity to engage with investors, industry veterans, and potential collaborators. We invite everyone to come and witness firsthand the innovative spirit that defines IIT Madras and Nirmaan.”
The Process
Start-ups are accepted at the idea stage and participate in the eight-week Pratham workshop, where they learn from industry experts and seasoned entrepreneurs how to build a business. During this program, they receive a seed grant to create a Minimally Viable Prototype, conduct market research and create a business plan.
Following this, Start-ups advance to the Akshar program, where they access additional funding and support to develop and launch their product and gain pilot implementations. Nirmaan also connects startups with a network of experienced mentors, providing guidance at every step of their entrepreneurial journey. This combination of resources, mentorship, and a safe space to explore ideas makes Nirmaan a standout platform for startup development at IITM.