Inside IIT Madras’ Incubation Cell
Since its inception in 2013, the IIT Madras Incubation Cell has emerged as a pivotal platform for nurturing deeptech startups in India. With over 500 startups incubated, the cell has played a significant role in fostering innovation across various sectors including artificial intelligence (AI), quantum computing, fintech, e-mobility, and spacetech. Tamaswati Ghosh, the CEO of the incubation cell, elaborates on the incubator’s mission and its impact on the Indian startup ecosystem.
The Role of IIT Madras Incubation Cell
The IIT Madras Incubation Cell is dedicated to supporting entrepreneurs by providing them with essential resources, mentorship, and networking opportunities. Ghosh emphasizes the long-term relationships that the incubator builds with its startups. She states, “Startups incubated at the cell tend to stay with us for a very long time. The backing continues, and some of our founders return as mentors for the younger ones.”
Faculty Involvement
One of the unique aspects of the IIT Madras Incubation Cell is the active involvement of its faculty members. Currently, around 18% of the faculty population at IIT Madras are either founders or minority shareholders in startups. This statistic highlights the institution’s commitment to fostering entrepreneurship among its academic community.
Encouraging Early Customer Feedback
Ghosh points out the importance of early customer feedback for startups. “We encourage startups to understand feedback from potential customers and see if they can secure pilot projects from the industry early on. When they start working with a potential customer, capital infusion from venture funds becomes much easier,” she explains. This approach not only helps in refining the product but also builds credibility in the eyes of investors.
How WAE is Trying to Cut Plastic Bottle Use
In a world increasingly aware of environmental issues, WAE Water (WAE) stands out as an activist venture aiming to reduce the reliance on single-use plastic bottles. Founded by Anupam Joshi nearly 15 years ago, WAE has been at the forefront of campaigns advocating for sustainable water consumption.
Initial Campaigns and Vision
WAE initially launched campaigns such as saynotobottledwater.com, which aimed to raise awareness about the health risks and environmental costs associated with bottled water. The campaign pushed companies to rethink their packaging strategies and consider the long-term implications of plastic waste.
Transition to Sustainable Solutions
WAE began its journey by supplying steel-based, point-of-use water systems to large institutions. Early clients included major corporations like Citibank and Max New York Life, who embraced WAE’s vision of sustainability. Over the years, WAE has evolved from being merely a dispenser company to becoming a key player in the movement to reduce dependency on bottled water.
The Broader Impact of WAE
WAE’s efforts are part of a larger push towards sustainability in India. The company not only focuses on providing alternatives to bottled water but also engages in educational initiatives aimed at promoting responsible consumption. By highlighting the negative impacts of plastic waste, WAE seeks to inspire consumers to make more environmentally friendly choices.
Innovative Solutions and Future Goals
WAE continues to innovate by developing new technologies and solutions that cater to the growing demand for sustainable water consumption. Their initiatives not only aim to reduce plastic waste but also ensure that clean drinking water is accessible to all. As WAE expands its reach, it hopes to influence more businesses and consumers to adopt sustainable practices.
Conclusion
The IIT Madras Incubation Cell and WAE Water exemplify the potential of innovation and entrepreneurship in addressing pressing environmental challenges. Through their respective missions, they contribute to a more sustainable future while fostering a vibrant startup ecosystem in India.
Note: This article reflects the current state of the IIT Madras Incubation Cell and WAE Water as of October 2023. For the latest updates and developments, please refer to their official channels.
