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Two startup incubatees of IIT Madras win ISBA Startup Awards 2016

By   /  September 13, 2016  /  Comments Off on Two startup incubatees of IIT Madras win ISBA Startup Awards 2016

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Pune/Madras:  Two startup incubatees of Indian Institute of Technology (IIT) Madras won ISBA Startup Awards 2016 at the ISBA Conference held in Pune on 10-11 September 2016. Stellapps Technologies Pvt. Ltd, a graduate company of IIT Madras Incubation Cell & IIT Madras, won the Award for Innovative Company of the Year for Business Success category while Cygni Energy Pvt. Ltd., an incubatee company of IITM Incubation Cell & IIT Madras, won rising Star Award in Electronics/Mechanical/Electrical Products category. ISBA awards were supported by Department of Science and Technology, Government of India.

The two-day conference of Indian Science and Technology Entrepreneurs Parks and Business Incubator Association (ISBA) was held on 10-11 September 2016, Pune.  ISBA introduced the Innovation and Entrepreneurship Awards titled ISBA Awards in the year 2009 to celebrate the success of incubatee and graduate companies from amongst the ISBA Incubator members. ISBA awards play a great role in establishing the credibility of the startup and further enable them to attract investments, customers and better employees.

Cygni, head-quartered at Hyderabad, India, has a wide-range of experience in managing Solar Grid Connected, Rooftop and Decentralized PV systems.The company provides Solar-DC Power Solutions through development of three technologies: GOA (green offices & apartments); OGH (off grid homes); and UDC meter. The company has interests in Renewables, energy efficient Equipments, Solar-DC, Low Voltage DC, Energy Management. The company’s seed capital is funded by IIT Madras’ Rural Technology and Business Incubator (RTBI).

Stellapps, based in Bengaluru, is an end-to-end dairy technology solutions company – the first of its kind in India. The IIT-Madras incubated company founded by a group of IITians and technologists with a strong industry background and rich experience including IIT Madras, IIT Kharagpur and IIM Ahmedabad alumni. The company produces and procure comprehensive farm optimization and monitoring support, which helps dairy farmers and cooperatives maximize profits while minimizing effort. Stellapps is funded by Omnivore Capital – a fund anchored by Godrej Agrovet Limited and investment patrons include a large group of IIT alumni.

The XI ISBA Conference  brought together all stakeholders of the Innovation and Entrepreneurial ecosystem from across  the world and India.  Experts from International & Indian community of Science Parks, Clusters, Incubation Experts, Investors – Angels, Leading VCs, PEs, Financial Institutions, Experts from Entrepreneurial ecosystem  attended the conference.

In the past several ISBA Awardees have gone on to become very successful companies. These awards cover several sectors such as Information and Communication Technology; Biotechnology, Pharmaceutical, Chemistry; Clean Green Technology (including Clean water, Environment & Renewable Energy); Engineering, Manufacturing; Electronics & Allied areas, Technologies that support inclusive growth (Rural Development, Agriculture, Healthcare, Education etc.).

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