IIT Madras launches all-in-one platform for startups

IT Minister Rajeev Chandrasekhar on Monday inaugurated a comprehensive platform developed by IIT Madras, providing startups with a centralized hub to connect with Venture Capitalists (VCs), explore government schemes, and navigate the intricacies of the startup ecosystem. The ‘Investor Information and Analytics Platform’ is the brainchild of researchers at the Centre for Research on Start-ups and Risk Financing (CREST) of IIT Madras.

Chandrasekhar commended the launch, highlighting the platform’s significance in bridging the gap in understanding the vast startup innovation ecosystem. He emphasized its value for researchers and policymakers in aligning responses and initiatives with the dynamics of the ecosystem.

A standout feature of the platform is “StartupGPT,” an AI-driven conversational platform enabling real-time access to information through user-friendly queries. Accessible at a nominal cost, the platform houses data on over 200,000 startups, 11,000 angel investors, 5,000 VCs, 1,000 incubators, 100 government agencies, and 550 banks that support startups.

In collaboration with YNOS Venture Engine, an IIT Madras incubatee, the platform is technically supported to ensure its availability round the clock with updated information. Prof. Thillai Rajan A, Head of CREST, IIT Madras, emphasized the platform’s role in democratizing access to information and capital, nurturing innovation and entrepreneurship across India. He acknowledged the significant contribution of IIT Madras and the Government of India in realizing this initiative through the Institute of Eminence Scheme.