31 Mar 2018 19:34 IST

3 start-ups win IIM-C’s Smart Fifty contest

The top 50 teams will get a grant of ₹4 lakh each from IIM Calcutta Innovation Park

Three start-ups were selected after the grand finale of the Smart Fifty contest, organised by IIM Calcutta Innovation Park (IIMCIP) in association with the Department of Science and Technology.

The institute, however, did not disclose the names of the teams selected in the final round.

The contest had received close to 15,000 applications, of which 50 teams (40 teams India and 10 from Boston and Singapore) were shortlisted. These start-ups have been working in the areas of sustainability, health care, agriculture, fintech, analytics and education.

All 50 teams were present at the IIM-C campus for the bootcamp and semi-finals from March 19-22. The teams will be getting a grant of ₹4 lakh each from IIMCIP and also stand a chance to get funded by some investors during this period.

The top 10 teams selected in the semi finals are Extracarbon, Multiversal Industries, Nanoclean Global, Brun Health, Aarna Biomedical Products, Sukriti, Newandra Innovations, Takachar, Village Industrial Power and Strom Motors.

The Smart Fifty initiative was floated to promote entrepreneurship-driven social development. The aim was to seek out entrepreneurs with smart ideas who, with a little help and recognition, would help transform India and move on to become successful entrepreneurs, thereby creating wealth, solving social problems profitably and generating employment opportunities.

It was also envisaged to evolve, for aspiring entrepreneurs and innovators, as a platform of choice that facilitates their success through strategic networking, seed funding, and mentoring support.