Cygni Becomes First Startup to Gain from Startup India Action Plan
Modi’s Startup India Action Plan Backs Its First Startup
The Startup India Action Plan selected 30 out of 200 startups that had earlier applied to the program to avail the benefits under this program. Now the Hyderabad startup, Cygni, a solar power-based solutions provider, becomes the very first startup to receive these benefits.
The Startup India initiative was announced by PM Narendra Modi on the occasion of Independence Day this year. Under this initiative, Cygni has now qualified as the top innovative startup deserving of various IPR and tax-related benefits.
Getting to Know Cygni
A product of IIT Madras Incubation Cell and IIT Madras’ Rural Technological Business, Cygni was founded by Venkat Rajaraman. The main aim of Cygni is to bring solar energy solutions into homes and offices and revamp the now AC (Alternating Current) based power supply to a more efficient and cost-effective DC supply.
How It’s Doing This
- Providing with DC power supply 24/7 at 48V to light DC appliances.
- Providing solar energy storage option to reduce the present energy storage costs by half.
- Bringing solar energy to rural homes with no electricity.
Why the Stress on DC power?
Watch this video and find out why.
The Potential Market
Since its launch, Cygni has been generating a significant interest in the international market. Rajaraman believes that since the renewable energy market is still growing, they have a lot of opportunities to explore. Cygni is also planning to reach out to North African and Southeast Asian markets.
- Founded by Venkat Rajaraman, Cygni becomes the first startup to have the support of Modi’s Startup India Action Plan.
- It provides solar energy driven solutions to light up homes and office spaces.
- It provides DC power which is more cost-effective and efficient.