Gujarat University picked up 12 startups for seed funding of $600K (INR 40, 000)each.

It is a great opportunity for these 12 startups including student startups as well as established startups like Planet Earthlings, Chaaipani, San Burn, Aatap Energy and Xitiz Technologies to get funded Rs. 40,000 each by Gujarat University Startup and Entrepreneurship Council (GUSEC) at an event. Apart from it, these new businesses will be provided with the required mentorship. With the help of a skilled team they will guide for HR, finance, technical and legal for setting up a startup.

In all, there were 20 startups from varied sectors and different ideas, 12 got rewarded and other 7 startups were called for a second round to understand their startups intricately before they get consent for funding.  Gujarat Corporate Social Responsibility Authority (GCSRA) and Entrepreneurship Development Institute (EDI) also were a part of the investment round.

This reward is for entrepreneurs to evolve their startups, make websites, and register their companies, patents and so on. The main aim behind seed funding by Gujarat University is to push the growth of these new businesses at an initial stage as well as promoting the movement of “Startup India, Standup India” formulated by Prime Minister Narendra Modi. GUSEC supports, nurtures and encourages students to set startups, innovate and be job creators, rather than job seekers.

The university plans to build creation centers for student entrepreneurs and put into practice an entrepreneurship policy for the benefit of the students in the near future.

Takeaways:

• Gujarat University Startup and Entrepreneurship Council (GUSEC) selected 12 startups out of 20, and provided seed funding of INR 40,000 each.
• Along with funds, these startups will be provided with mentorship, mapping and other guidance.
• The main aim behind seed funding by Gujarat University is to push the growth of these new businesses at an initial stage as well as promoting the movement of “Startup India, Standup India” formulated by Prime Minister Narendra Modi.
• The university looks forward to build creation centers for student entrepreneurs. With this, it will implement an entrepreneurship policy benefiting them.