DLabs incubator at ISB Hyderabad receives Rs 5 Crore grant
ISB’s DLabs Incubator Association will use the fresh funds for prototype development, early-stage startups for proof of concept, product trials, market entry and commercialization.
“Many good ideas don’t see the light of day because they could not get early-stage funding. This grant will help us fix it,” said professor Bhagwan Chowdhary, faculty director, ISB DLabs.
Many startups founded by ISB alums have achieved unicorn status. This grant will help to support new startups and ideas with a platform to flourish. The Startup India Seed Fund Scheme will enable the startups to rise to a postion where they can raise investments from angel investors or venture capitalists or even seek loans from banks and financial institutions.
Founded in 2015 by Aruna Reddy, in Hyderabad, DLabs is a Nonprofit Organization Management company. It hosts a state-of-art space for entrepreneurs to interact, engage and collaborate with investors, mentors and academia.
Its primary objective is to strengthen entrepreneurship and encourage innovation among the youth, including the student and alumni community. It also encourages innovation and creativity in a shared work environment among a healthy startup community.
ISB has been working with the government and the industry on many research-driven initiatives along with incubating startups and helping them raise funds and grow. It gained accreditation from the Association of MBAs (AMBA).
ISB aims to be a research-driven, internationally top-ranked and independent management institution to prepare future leaders for India and the world. Apart from this, ISB also engages with government, business and society to contribute to the development of the community both at national and global levels.