IIT Madras To Fund Sports-Tech Start-Ups Up To Rs 5 Crore

2024-05-27 04:18:43

(MENAFN- KNN India) Chennai, May 27 (KNN) In a move to deepen the linkage between technology and the sporting industry, the Indian Institute of Technology (IIT) Madras has announced plans to fund sports-tech start-ups up to Rs 5 crore.

The aim is to foster the creation of products and applications that can enhance sporting excellence in the country.

The funding will be provided by the IIT Madras Pravartak Technologies Foundation and the IIT Madras Centre of Excellence in Sports Science and Analytics (CESSA).

It will support start-ups developing AI and IoT-based products involving sensors, networks, actuators, and controllers in the sports domain.

The broad areas identified for the sports-tech start-ups include media, entertainment, content streaming, fan/player engagement, athlete performance measurement and enhancement, esports, sports education, data analytics, fan engagement metrics, sports commerce, and sports communities.

Interested start-ups can apply through the link

Shortlisted applicants will be invited to present their business plans at the 'IIT Madras Sports Technology Start-up Conclave' on June 14-15, the country's first such conclave for this sector.

"We want to create a deeper linkage between technology and the sporting industry, and lead the development of an ecosystem to enhance sporting excellence," said Ramesh Kumar, CEO of CESSA and former global head of ESPNCricinfo.

Prof. Mahesh Panchagnula, Dean (Alumni and Corporate Relations) at IIT Madras and head of CESSA, believes the conclave will be a turning point in India's sports-tech innovation as the country prepares to bid for hosting the Olympics.

The investment support, ranging from Rs 10 lakh to Rs 50 lakh per start-up, will be based on business potential, with IITM Pravartak Technologies Foundation taking an equity stake.

IITM CESSA will provide high-tech sports infrastructure, tech support, access to the startup ecosystem, and a data center for research.

(KNN Bureau)

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