IIM Ahmedabad CIIE.CO and SIDBI have joined forces to establish a seed fund, for deep tech startups. With a corpus of ₹40 crore this collaboration by CIIE.CO known for its support of more than 1,500 startups across various industries strengthens India’s position as a leading global hub, for deep tech innovation.
In a significant collaboration, IIM Ahmedabad’s CIIE.CO and SIDBI have joined forces to establish a dedicated pre-seed fund tailored for deep-tech startups. This pioneering initiative takes shape following a formal Memorandum of Understanding between the two entities. A substantial corpus of ₹40 crore fuels the fund, a financial commitment equally shared by both SIDBI and CIIE.CO.
Spanning two decades, CIIE.CO has steadfastly championed early-stage enterprises in India, amplifying over 1,500 startups, investing in excess of 350, and providing guidance to countless others. The organization’s unwavering focus revolves around supporting visionary founders embarking on the creation of transformative solutions during their nascent phases. CIIE.CO’s investments cut across industries, with a diverse emphasis spanning three key thematic realms: deep technology, digitization, and climate technology.
Formalizing the partnership took center stage within the premises of CIIE.CO, situated at IIM Ahmedabad’s New Campus. The event convened a distinguished array of attendees, including notable figures such as Shri S Ramann, CMD of SIDBI, Prof. Chitra Singla, Prof. Ankur Sinha from IIM Ahmedabad, Shri S P Singh, CGM of SIDBI, and Kunal Upadhyay, co-founder of CIIE.CO, alongside others who graced the occasion.
An additional accolade for CIIE.CO lies in its recognition as a Center of Excellence by the esteemed Department of Science and Technology under the Government of India. As India continues to carve its identity as a global frontrunner in pioneering deep-tech advancements, the strategic alliance uniting IIMA’s CIIE.CO and SIDBI emerge as pivotal force in fortifying the nation’s deep-tech entrepreneurial landscape.
