In the month of March, the Gujarat University Startup and Entrepreneurship Council (GUSEC) had initiated JumpStart, a pre-seed funding opportunity for startups and innovations, in association with Gujarat CSR Authority–and the winners of this year’s edition of this grand initiative have been announced. 25 startups were chosen from among more than 300-350 applications. The chosen have been rewarded with Rs 40,000 as a pre-seed funding, besides mentorship and incubation.
How the 25 Start-Up Companies were selected:
At first, 50 start-ups were shortlisted and invited for panel interviews at GUSEC during the month of March. Only 25 made it to the list but the rest that did not make it was not dejected as GUSEC decided to extend mentorship, infrastructural and allied support. The shortlisted start-ups would receive a Rs.40,000 grant along with necessary allied, infrastructural and allied support to grow and advance their innovation as well as commercialize their ideas through Gujarat University.
Out of the 25 applicants that were selected, a majority of the start-ups are incubated at GUSEC and some of the applicants are associated with Gujarat University itself.A few of the selected applicants that are not associated with the Gujarat University ecosystem will receive equal support and guidance.
The Efforts of GUSEC:
The Gujarat University Startup and Entrepreneurship Council (GUSEC) building were initiated in February 2016 and it houses an 80-seat startup support system. Since their initialization, they have supported almost 40-43 startups and currently have 36 startups being incubated by them. The GUSEC is entirely run by the funds and the support of the Gujarat University. 'Jumpstart' was designed on the lines of the GUSEC's efforts last year when 12 startups were awarded grants of Rs.40,000 each. Ten of these 12 startups are incubated by GUSEC and are currently at the growth stage. The goal of GUSEC is to empower and enable one percent of university graduates to become job creators in the future. The University has also planned to establish decentralized startup support systems in the affiliated colleges under it.
The List of the Startups that made the cut: