FICCI CTech Supports Tech & Innovation Driven Startups in the Indian Entrepreneurship Ecosystem

Looking to expand its reach and impact, the Center has recently constituted a power-packed Innovation and Technology board to mentor FICCI CTech’s programs and activities.

24 January, 2018 by BW Online Bureau

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Since 2007, FICCI through its’ Center for Innovation Science and Technology Commercialization (C-Tech) has been providing a platform and institutional framework to Indian innovators and entrepreneurs, helping them convert their ideas into businesses.

Currently running several national level multi-stakeholder programs, the Center has supported close to 1000 innovative enterprises. These programs have created over 12000 jobs and enabled portfolio companies to earn consolidated revenues of over a billion dollars. Venus Remedies and Tejas Networks, two companies supported by FICCI CTech have gone to IPO.

Social enterprises supported have touched the lives of over 6.8 million people from the underserved communities. One such enterprise, FIA Technologies, led by a young MIT graduate Seema Prem has been supported over the past 5 years to today having a presence in 19 states across 450 districts providing financial literacy in 32000 villages, access to financial products and services to 6 million customers and creating 8000 rural entrepreneurs. FIA does an average transaction of INR 12 crore/day (equivalent to US$ 1.8 Million/Day) and is currently operational in 27 states.

Fostering south-south cooperation, these portfolio enterprises have positively impacted the socio-economic development of not only India but also other developing countries in Africa and South Asia with the hand-holding support provided by FICCI CTech to scale their innovations in countries such as Rwanda, Kenya, Ethiopia, Bangladesh, Uganda, Nepal, and Afghanistan.

Looking to expand its reach and impact, the Center has recently constituted a power-packed Innovation and Technology board to mentor FICCI CTech’s programs and activities. The advisory board would be chaired by veteran from the start-up ecosystem, Mr. Saurabh Srivastava and co-chaired by Mr. Ajit Rangnekar, DG – Research & Innovation Circle & Former Dean ISB and Mr. Anand Sudarshan, Founder & Director, Sylvant Advisors.

Focused on R&D, Innovation, Startups, International Development, and Technology Commercialization; CTech currently runs the following programs: