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Kanpur, September 13, 2023: The Indian Institute of Technology Kanpur (IITK) and Engineers India Limited (EIL) have introduced a startup program named “Hackathon EngSUI Startup Innovation Quest” for aspiring entrepreneurs. Commencing on September 11, 2023, and accepting applications until September 15, 2023, this unique initiative offers aspiring entrepreneurs an unparalleled chance to bring their innovative concepts to life and nurture them into prosperous enterprises.
The heart of the EIL Hackathon Program lies in its three distinctive funding categories, which include "Innovation Challenge" (up to Rs. 20 Lakh), "Seed Fund" (up to Rs.1 Cr), and "Direct Equity Fund" (up to Rs. 5 crores). These funding opportunities are designed to empower entrepreneurs from different professional backgrounds, offering essential financial support to transform their innovative ideas into successful startup ventures.
EIL's Startup India Initiative identifies certain key focus areas for proposals. These include manufacturing hardware for the oil & gas industry, developing innovative processes and technologies for the hydrocarbon sector, and implementing IT and IIOT (Industrial Internet of Things) solutions designed for the industry. Additionally, opportunities extend to Lube Packaging, Renewable Energy and storage, Nano Materials, Waste-to-energy, Biofuels, Engineering plastic from petrochemical product slate, Replacement of Raw material/catalyst, and Health, Safety & Environment (HSE).
The "Hackathon EngSUI Startup Innovation Quest" program is carefully designed to empower visionary minds and support aspiring entrepreneurs. It addresses the common challenge of securing funding for startups. IIT Kanpur and EIL, dedicated to nurturing innovation and assisting entrepreneurs in a world filled with an abundance of ideas, aim to foster entrepreneurship and innovation, both nationally and globally, through this initiative. For more details,
About IIT Kanpur:
Indian Institute of Technology (IIT) Kanpur was established on 2nd November 1959 by an Act of Parliament. The institute has a sprawling campus spread over 1055 acres with a large pool of academic and research resources spanning across 19 departments, 22 centres, and 3 Interdisciplinary programs in engineering, science, design, humanities, and management disciplines with more than 540 full-time faculty members and approximately 9000 students. In addition to formal undergraduate and postgraduate courses, the institute has been active in research and development in areas of value to both industry and government.
About SIIC, IIT Kanpur:
Startup Incubation and Innovation Centre (SIIC), IIT Kanpur, is one of the oldest incubators in the country. It was established in 2000 when the entrepreneurial ecosystem was still at a nascent stage in India. The multifaceted and vibrant incubation ecosystem at IIT Kanpur, nurtured for over two decades, prospers to fill the gaps on the road to converting an idea into a successful and meaningful business model. The domain expertise combined with the infrastructural prowess of the academic institute has collectively demonstrated a knack for tremendous social impact and technological advancement over the years.
About Engineers India Ltd (EIL):
Engineers India Ltd (EIL) is a Navratna PSU established in 1965. EIL provides engineering consultancy and EPC services principally focused on the oil & gas and petrochemical industries. The Company has also diversified into sectors like Infrastructure, Water and Waste Management, Solar and Nuclear Power, and Fertilizers to leverage its strong technical competencies and track record. Today, EIL is the only ‘Total Solution’ engineering consultancy company in India providing design, engineering, procurement, construction, and integrated project management services from ‘Concept to Commissioning’ with the highest quality and safety standards. It also provides specialist services such as heat and mass transfer equipment design, environmental engineering, specialist materials & maintenance, and plant operations & safety services.