back to top
JammuAIC-Pinnacle’s incubated startups achieve collective valuation of over 300 cr

AIC-Pinnacle’s incubated startups achieve collective valuation of over 300 cr


NL Corresspondent

Tawi: Atal Incubation Centre (AIC) – Pinnacle Entrepreneurship Forum, a leading startup incubator and accelerator supported by Atal Innovation Mission (AIM), Niti Aayog, Government of , proudly announces that the cumulative valuation of its incubated startups has surpassed the milestone figure of INR 300 crores.

AIC-Pinnacle backed startups have raised around Rs. 30 crores in funding from various sources such as angel investors, awards, and challenges. AIC Pinnacle, founded under Atal Innovation Mission (AIM) in 2018, a not-for-profit section 8 legal entity, has become a beacon of innovation, incubating over 60 startups in fields as diverse as Electric Vehicles, Agri-tech, Health-tech, Manufacturing, Information , and Clean Energy.

The incubator empowers businesses with a robust support structure through its extensive incubation programmes. To date, seed fund support of Rs 5.41 Crores has been provided from various government schemes.

Besides financial support, access to cutting-edge software, prototype aid, certification guidance, legal and intellectual property support, mentorship from a respected panel of experts, cutting-edge infrastructure, and critical networking opportunities are all part of the package.

Expressing his views, Dr. Sudhir Mehta, Chairman of Pinnacle Industries & EKA and Founder of AIC-Pinnacle Entrepreneurship Forum, said,

“We are proud to witness the incredible success of our incubated startups as they collectively cross the 300-crore valuation mark.

This milestone is a reflection of the hard work, dedication, and ingenuity of Indian entrepreneurs we support. AIC-Pinnacle remains committed to fostering innovation and nurturing the next generation of industry leaders in India.

Over the last four years, AIC Pinnacle has offered a nurturing atmosphere for entrepreneurs, giving a comprehensive spectrum of services and support at the early stage. We are glad to  see leading investors recognizing the potential of these concepts to scale up and become profitable.

This will help AIC Pinnacle to empower the next generation of entrepreneurs by developing unique ideas and commercializing them.

A seed capital of Rs 5.41 crores from various government initiatives that has been leveraged to attract over Rs 30 crores of equity with a total market valuation of more than Rs 300 crores demonstrates the value offered by our unique support system.”

The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

Share post:


More like this

At 58.46%, UT sees highest Lok Sabha poll turnout in 35 years

New Delhi: The Election Commission of India (ECI) has...

New Power Curtailment Schedule in Jammu for Summer 2024

Jammu, May 28: New Power Curtailment Schedule in Jammu...

PDP distances itself from video showing anti-Gujjar slogans being raised at party meeting

Srinagar, May 27: The PDP on Sunday distanced itself...

Hideout busted in Kupwara

Srinagar, May 27: Security forces busted a militant hideout...